Website Software Seller Acquia Adds $50M, Led by NEA [May 27, 2014]
By Curt Woodward
Acquia hasn’t been shy over the past few years about its hopes to become a public company. Today, the seller of website management software is stacking up some more venture capital: a $50 million investment that Acquia says will help it continue growing in multiple areas.
The new investment was led by New Enterprise Associates, which will add growth equity leader Ravi Viswanathan to the company’s board. Another new investor, Split Rock Partners, also contributed to the round, along with some previous venture investors.
Acquia, founded in 2007, has been billing itself as “pre-IPO” for some time now. CEO Tom Erickson told the Boston Business Journal in March that his company could go public as early as this year, and Acquia added a new chief financial officer last week, a move that was touted in context with an eventual IPO filing.
In an interview Tuesday, chief marketing officer Tom Wentworth said the new financing hadn’t changed the company’s plans for a possible IPO. ”This funding is really about allowing us to move faster and accelerate our momentum,” Wentworth said. “Being a public company is certainly an option for us, but right now we’re focusing on continuing our really fast growth.”