Acquia, which provides products and services in support of the open source web experience management platform Drupal, has completed a US$ 30 million financing round. The company said the financing will be used to push sales and marketing -- particularly in Europe and Asia Pacific.
The latest cash infusion brings the company's investment total to US$ 68.5 million. The most recent round was led by Investor Growth Capital, whose Jose Suarez will soon join the Board. The investors also included Goldman Sachs, Accolade Partners, and current investors, North Bridge Venture Partners, Sigma Partners and Tenaya Capital.
Over a Million Sites
Acquia was founded in 2007, and its co-founder and current Chief Technology Officer, Dries Buytaert, is the original creator and project lead of the Drupal platform. Its products and services are currently used by over a million sites -- including WhiteHouse.gov, the World Economic Forum, Stanford University and Examiner.com.
CEO Tom Erickson said in a statement that today's customers are “demanding innovative platforms that give them new freedoms to integrate with their existing marketing toolset and increase the productivity of their digital teams.” He said that Acquia “disrupts the market for content, community and commerce solutions,” so that brands can “achieve a new-found agility” to handle the social and mobile web.
Investors were obviously attracted by the boffo time that Acquia has been enjoying. Its revenue nearly doubled year-over-year through September 30 and, over the last three years, the company has seen a compound annual growth rate of 250 percent. In 2012, Inc. Magazine called Acquia the fastest growing software company in the US.
Added 100+ Workers
The Burlington, Massachusetts-based firm has added over 100 employees in the past 12 months, as part of Acquia's addition of an office in Sydney, Australia to cover the Asia Pacific region. Additionally, 2012 has seen more than 150 new partners added to its global partner program, bringing the total to almost 550.
In terms of product and market development, Acquia recently bought content quality assurance technology company Mollom BVBA to hasten the creation of its Software-as-a-Service content protection service offering for marketers. Its application analysis suite, Acquia Insight, now performs real-time performance and security assessment of Drupal installations for more than 18,000 sites.