Acquia Closes $8.5 Million in Series C to Fund Product Growth and Geographic Expansion
Funding provided by North Bridge Venture Partners and Sigma Partners
Woburn, MA – November 1, 2010 – Acquia, one of Boston’s hottest and fastest growing start-ups, announced today it has closed $8.5 million in a series C financing round from existing investors North Bridge Venture Partners and Sigma Partners together with Acquia CEO Tom Erickson. Capital will be used to expand operations in the United States and Europe, accelerate its investments in the development of software as a service (SaaS) and platform as a service (PaaS) offerings for Drupal, the popular open source social publishing system.
“Acquia is taking the proven open source business model and dramatically expanding on it with managed Drupal cloud services, Drupal Gardens and just released a cutting-edge social business software solution, Drupal Commons,” said Tom Erickson, CEO, Acquia. “Drupal is radically changing the way websites are created and Acquia is helping enterprises embrace the technology.”
Acquia’s comprehensive Drupal offerings are designed to help companies build killer web experiences. Acquia’s SaaS based Drupal Gardens brings Drupal to the masses with an easy to use solution. Drupal Commons is a quick on ramp for building internal or external community sites. Acquia’s managed Drupal cloud services and support leverage the flexibility of the cloud to provide one stop shopping for companies using Drupal that require flexibility, scalability and 24x7 support. The company has seen momentous growth over that past 12 months and continues to push the envelope with innovative Drupal solutions and services.
Acquia’s tremendous success is attributed to the growing number of enterprises adopting Drupal. Acquia helps companies like Red Hat, the Commerce Department and Thomson Reuters, build, deploy and operate world-class corporate websites, social communities and intranets. Acquia helps further the development of the Drupal project by giving back to the Drupal community, 30% of Acquia’s R&D team works directly on Drupal 7.
“We have seen clear evidence that forward thinking organizations are adopting open source solutions to consolidate web strategies around one platform to manage a vast array of engagement needs. Acquia tripled its customer base in 2010, grew their partner eco-system to over 220 partners and has seen the number of Drupal Gardens sites soar to over 24,000. Acquia’s passion for innovation is moving Drupal from the fringes of the enterprise into the center. We are excited to partner with Acquia as they continue momentum with managed Drupal services and support and expand operations into Europe.” said Michael J. Skok, General Partner, North Bridge Venture Partners.
“Acquia is fulfilling the promise of open-source faster than any other company, their commitment to Drupal development, their passion for innovation and their superior leadership team are what make Acquia an amazing partner.” said John Mandile, Managing Director at Sigma Partners.
“My vision from the start has always been for Acquia to contribute to the advancement of the Drupal project, I’m proud that we have embraced that role as a member of the community.” Said Dries Buytaert, CTO and Co-Founder, Acquia. “We are thrilled to expand our operations into Europe and continue our amazing success in 2011.”
Acquia helps organizations of all sizes build social publishing websites quickly, easily and with a lower total cost of ownership by leveraging Drupal, the open source social publishing platform that blends content and community. Our products, services and support enable companies to leverage the power, technical innovation and economic value of Drupal while simplifying the experience, removing the complexity and minimizing the risk. Please visit: http://acquia.com.