​Acquia closes $55m funding round, but no signs of IPO

Acquia has secured an additional $55 million in funding, on top the $50 million it had raised last year as part of steps towards an initial public offering.

Acquia has secured a $55 million equity financing round that will be used to further expand its global operations, sales, and marketing, as well as develop new solutions.

The funding round was led by new investor Centerview Capital Technology, and was supported by existing investors including New Enterprise Associations (NEA) and Split Rock Partners.

Acquia CEO Tom Erickson said the extra funding will enable the team to continue to focus on helping customers deliver a flexible and faster digital experience.

"At Acquia, we pride ourselves on guiding today's leading organizations as they digitalise their business," he said. "The phrase, 'If you're not thinking ahead, you're falling behind,' rings ever so true for us, and we strive each day to help our customers stay ahead of the curve and provide amazing digital experiences.

The additional funding comes after Acquia secured $50 million in a separate funding round last year, with the help of NEA and Split Rock Partners.

Previously, chief executive Tom Erikson had alluded that any extra cash injection the company receives would help the company along its path to an initial public offering, which he said at the time would happen by the end of 2014 or in 2015 -- but there have been no signs of it yet.

The Drupal self-styled "enterprise facilitator" inked a four-year deal with the Australian government last September to implement a Drupal-based web Government Content Management System. Under the terms of the deal, GovCMS will be delivered on Acquia Cloud, and will incorporate Acquia Cloud Site Factory, a software-as-a-service application for Drupal. Government agencies will also be able to tap into the global Drupal community through Acquia.

During the company's third quarter results last October the demand for Acquia's platform from across technology, consumer goods, and the public sector helped push revenue growth up 39 percent year on year.

Acquia co-founder and CTO Dries Buytaert said at the time that there has been a dramatic increase in the adoption of the Acquia platform across global brands.


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