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.

Press coverage:

Comments

@zinyando (not verified):

I wonder what Acquia is worth as a company now. Congrats on the funding, Drupal is great and I love it. I hope this money tricles down to making it greater.

November 29, 2012
Sven Marievoet (not verified):

Hoera voor Dries ! :-)

November 29, 2012
webchick (not verified):

I've seen a few concerns over an Acquia IPO voiced on Twitter and elsewhere. In case folks were unaware, back in the original Acquia annoucement, Dries pointed tried to pre-emptively address several concerns community members might have, including:

Furthermore, I'm expressly permitted to make decisions within the Drupal project that may not always be in Acquia’s best commercial interest. This was a hard requirement for me.

That entire section is worth a (re-)read if you either for some reason forgot about a blog post posted 5 years ago, or weren't even using Drupal back then. :D

November 29, 2012
Tom Tran (not verified):

I have been working in the open-source CMS industry for over 5 years now and Drupal has been growing really strong since. The perception is Drupal is dominating the higher enterprise and government sector thanks to Dries visionary plans and Acquia's excellent techies.

You're a very integrative leader both for the Drupal project, and Acquia. Whenever you get in contact with anyone from Acquia, independently you can observe an incredibly high consistency in skills, values and passion to do things better.

I know the community, Acquia and many other Drupal businesses will further grow in coming years, because everyone is passionate about making so many peoples live easier (better?).

Better I start saving some money and try to get some early Acquia shares.

November 30, 2012

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