Dries Buytaert

Acquia raises $30 million series E

Acquia raised $30 million in a Series E round, bringing total funding to $68.5 million to expand sales, products, and international reach.

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Today, we announced that Acquia raised $30 million, our single largest financing 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 fundraising 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 wide variety of proprietary competitors across different industries.

We know this 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.

At 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 a 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 websites. We believe that Drupal and Acquia are poised to emerge as the dominant players.

We'll use the additional funding to continue to pursue our mission. We've 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 will also be used 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.

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