Acquia raises $30M, foresees IPO as soon as next year [Nov 29, 2012]

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Thursday, November 29, 2012
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Biz Journals

Burlington-based Acquia, which provides tools for users of the open-source Drupal web publishing platform, announced Thursday it has raised $30 million in new funding to expand its business — in what CEO Tom Erickson said will likely be the company's last fundraise before it goes public.

The round was led by new backer Investor Growth Capital and included participation from new investor Goldman Sachs (NYSE: GS), the company said.

This year, Erickson said Acquia expects to double the $21.8 million in revenue that the company received in 2011. (The revenue results made Acquia the fastest-growing software company on the 2012 Inc. 500 list, and the eighth fastest-growing company on the list overall.)

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