Acquia raises $30 million series E
Today, we announced that Acquia raised $30 million, our single largest financing we have done to date. The investors include Investor Growth Capital, Goldman Sachs, Accolade Partners and our existing investors; North Bridge Venture Partners, Sigma Partners and Tenaya Capital. The new funding will bring Acquia's total fund-raising to $68.5 million.
It's a lot of money but we're on a big mission. We believe that Drupal is uniquely positioned to provide a single, unified platform for content, community and commerce applications. We believe an Open Source platform like Drupal is the best way to keep up with the evolving web. We believe we can take on a large variety of proprietary competitors across different industries. We know it is true because we've seen Drupal invade enterprises and overturn their established web technologies. We believe Acquia is breaking new ground with our combination of cloud products and business models.
We've made good strides towards this mission. Drupal continues to grow faster than proprietary competitors. And as Acquia, we have grown to 250 employees and are well on our way to posting around $44 million in annual revenue this year on $60 million in bookings. Specifically, Acquia's revenue has grown at 250% CAGR over the past 3 years, making us the fastest growing software company in the US according to Inc. We added more than 100 employees in the past 12 months. We've seen some incredible growth across the board.
But we also believe we are just getting started. We are in the middle of a big technological and economic shift in how large organizations build and maintain web sites. We believe that Drupal and Acquia are poised to come out as the dominant player.
We'll use the additional funding to continue to go after our mission. We're set out to build a successful, high-margin, highly defensible software company. Expect to see us use the money to accelerate our sales and marketing efforts, to continue our international expansion across Europe and Asia Pacific, to grow each of our product teams, and even to build more products. Part of our funding is also to make Drupal more relevant and easier to use by digital marketers and site builders - and things like Project Spark are a critical element of this. As Acquia builds products, we're committed to contributing to the Drupal project - to drive adoption of Drupal and make it more competitive with proprietary CMS players.
- Acquia press release: Acquia completes $30 million financing
- Techcrunch: Acquia lands $30 million Series E to scale out its enterprise Drupal development platform (video interview)
- Venture beat: With $30 million in funding, Acquia edges closer to an IPO
- Forbes: Acquia looks to 2014 IPO with new $30 million round
- The Next Web: Open-source Drupal software startup Acquia bags $30 million to fuel expansion in Europe and Asia
- Reuters: Open source software firm Acquia raises $30 million
- Boston Business Journal: Acquia raises $30 million, foresees IPO as soon as next year
- Xconomy: Pre-IPO Acquia lands another $30 million, sees sales topping $56 million
- Wall Street Journal: Acquia funded for expansion of content-management technology
- De Tijd (Dutch): IT-Belg Buytaert haalt 30 miljoen dollar op
- Datanews (Dutch): Acquia haalt 30 miljoen dollar op
— Dries Buytaert
Dries Buytaert is an Open Source advocate and technology executive. More than 10,000 people are subscribed to his blog. Sign up to have new posts emailed to you or subscribe using RSS. Write to Dries Buytaert at firstname.lastname@example.org.