Acquia raises $50 million series F

We've got great news to share today; we are announcing that Acquia raised $50 million, the largest round of financing we’ve ever completed.

The round is led by New Enterprise Associates (NEA), one of the world's top investors in our space. They have made various great investments in Open Source (MongoDB, Mulesoft, etc.) as well as SaaS companies (SalesForce, Workday, Box, etc.).

With the new funding, we can continue to go after our vision to help many more organizations with their digital platform and digital business transformation. In addition, Acquia is charting new territory in the world of software with a very unique business model, one that is rooted in Open Source and that helps us build a web that supports openness, innovation and freedom.

We have such a big and exciting opportunity ahead of us. This vision will not come to life on its own and the proprietary competitors are not resting on their laurels. We'll use the funding to double down on all aspects of our company; from increasing our investment in products to deeper investments in sales and marketing.

In addition to lead investor NEA, other investors include Split Rock Partners, and existing investors North Bridge Venture Partners, Sigma Partners, Investor Growth Capital, Tenaya Capital, and Accolade Partners. The new funding will bring Acquia’s total fund-raising to $118.6 million.

Of course, none of this success would be possible without the support of our customers, the Acquia team, our partners, the Drupal community and our many friends. Thanks so much for supporting Acquia!

Comments

Peter Macinkovic (not verified):

Wonderful news, Dries.

Great to hear Acquia has raised so much funding thus far ($118.6 million!) which is positive news for everyone involved in the Drupal community.

I remember a reddit AMA you did in which you stated:

"For me, a startup is a search for a scalable, repeatable business model. I'll stop calling Acquia a startup when we have reached that."

Do you believe that Acquia is approaching a post-startup state soon?

Regards,

Peter Macinkovic
Digital Producer
Melbourne, Australia

May 27, 2014 - 17:58
giorgio79 (not verified):

Would have liked to see an offering to participate on drupal.org for module maintainers. It would be fair to let them enjoy the benefits once Acquia goes public ... Drupal is nothing without its modules.

May 28, 2014 - 10:19
Jay Batson (not verified):

Giorgio - there are lots of regulatory & practical restrictions that would prevent this.

May 28, 2014 - 18:57
jgrubb (not verified):

Are you not enjoying the benefits of Drupal's success already?

May 29, 2014 - 14:52
Tom Geller (not verified):

Congratulations all around!

giorgio79, this is not an initial public offering; there is not yet an opportunity for *any* individual investors.

When/if the IPO occurs, I agree that it would be wise and fair for Acquia to include those who built the software that gave rise to the company -- module maintainers, drupal.org webmasters, documentation folks, etc.. That's common for open-source companies when they go public.

Keep in mind that there might not *be* an IPO. The company could be acquired or have some other exit strategy. Even if Acquia wants to "deal in" contributors, its current management might not have the ability to do so.

May 29, 2014 - 16:11
giorgio79 (not verified):

Look, I just threw in the idea, given the recent push from Dries towards agencies to employ core committers. Such an arrangement could be a nice additional motivator for those knee deep in Drupal. Certainly, these investment firms will hit it big, once the company is sold off or goes public, and it would be nice if drupal.org themers/module maintainers/forum managers etc. could participate in this as an additional source of revenue.

In the age of Indiegogo and Kickstarter, where individual investment displaces the dinosaur investment funds, I dont think my idea is so far fetched.

Yes, I do enjoy already the flourishing of Drupal, but that does not mean that joy cannot be increased :P I would rather put some of my savings in a company like Acquia than inside my bank account.

May 29, 2014 - 17:55

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