Acumatica

Acumatica, founded in 2008, is a technology provider that develops cloud- and browser-based enterprise resource planning (ERP) software for small and medium-sized businesses (SMBs). The company is headquartered in Kirkland, Washington, in the Seattle metropolitan area.[2]

Acumatica
TypePrivately held company
IndustryComputer software
Founded2008 (2008)
FounderSerguei Beloussov
Mike Shchelkonogov
John Howell
SuccessorEQT Partners 
Headquarters
Kirkland, Washington
,
United States
Key people
John Case(CEO)[1]
Nigel LeGresley (COO)
Mike Shchelkonogov(CTO)
Todd Wells (CMO)
Jonas Persson (Chairman)
ProductsAcumatica Cloud ERP
Number of employees
500+[1] (2021)
Websitewww.acumatica.com

History

In November 2008, Acumatica launched its first product, "Acumatica ERP" alongside an accompanying financial demo. In the following year, on-premises and SaaS software versions were released. The firm's distribution software came a year later in April 2010.[3]

In September 2011, Acumatica received an investment from Visma.[4]

In 2013, Yury Larichev became the company's CEO, soon after the company moved its headquarters to Kirkland, Washington, in the Seattle metropolitan area.[5][6] The firm launched version 4.0 of its ERP suite, which introduced a new user interface, as well as Acumatica Studio for ERP app development in March.[7]

In March 2014, former Microsoft Vice President Jon Roskill was named the new CEO.[8] The firm launched its xRP Cloud Platform two months later.[9] In the fall of 2014, it released the beta version of its new suite, Acumatica 5.0.[10] That same year, Acumatica secured over $13 million in funding in an effort led by MYOB.[11][12]

In June 2018, the firm secured a $25 million Series C round of funding led by Accel-KKR, a Silicon Valley technology-focused investment firm.[13]

In June 2019, private equity fund EQT Partners acquired Acumatica.[14] In December, Acumatica announced a partnership with accounting and advisory firm BDO USA[15] and, in April 2020, it acquired JAAS Advanced Manufacturing Software from JAAS Systems.[16]

In 2021, the Acumatica 2021 R1 and R2 product updates for comprehensive ERP usability and functionality were released; the R2 release featured new integrations with Microsoft Teams and Adobe Document Cloud.[17][18]

In January 2022, Acumatica acquired IBS Imperium, a property management application.[19] On February 16, 2022, John Case was appointed as the new CEO.[1]

Technology

Acumatica's web-based ERP applications are built on top of its internally developed platform xRP. The software can be deployed on-premises, hosted in a data center, or run on a cloud-computing platform (see operating environment below). The software can be licensed or subscribed to as a software as a service (SaaS) solution.[20][21][22]

The firm's SaaS offering runs on Amazon Web Services (AWS)[23] and Windows Azure[24] and SQL Azure.[20] Acumatica's licensed software runs on a Microsoft Windows Server with a Microsoft SQL database. Applications run as .NET managed code.[25]

Recognition

In 2012, Acumatica was named a Top 100 Global Finalist by Red Herring[26] and ranked #1 in the Top 20 Coolest Cloud Vendors by CRN.[27] The following year, Acumatica was featured a second time in CRN's "20 Coolest Cloud Software Vendors of the Cloud."[28] The company was a finalist for the 2013 SIIA Software CODiE Awards for Best Supply Chain Management Solution[29] and was also recognized as one of the top 50 Russian start-ups of the year.[30]

Acumatica won the 2014 Gold Stevie Award for its Cloud Platform[31] and the SIIA Software CODiE Award for Best Supply Chain Management Solution.[32] In 2016, the company won the SIIA CODiE Award for Best Supply Chain Management Solution.[33]

PC Mag Editors' Choice Awards recognized Acumatica for Best ERP Software in 2017.[34] Also in 2017, the company won another SIIA CODiE Award; this time for Best Cloud ERP Solution.[33]

In 2018, Acumatica received Gartner's highest score for customer satisfaction.[35]

In 2019, Acumatica was a finalist for Most Innovative Business at the IDEA Awards,[36] and PC Magazine named it among the top ten Best Inventory Management software.[37]

CEO Jon Roskill was named a winner in the 2020 BIG Innovation Awards by the Business Intelligence Group.[38]

References
  1. Rick Morgan (February 16, 2022). "'Acumatica names former Microsoft Office exec as CEO amid rapid growth". Seattle Inno. Retrieved April 14, 2022.
  2. Bishop, Todd (February 7, 2020). "Acumatica ramps up after private equity deal, using new owner's cash for an acquisition of its own". Geek Wire. Geek Wire. Retrieved June 16, 2020.
  3. 1"A Brief History of ERP Software Including Dynamics GP and Acumatica". ERP Software. April 1, 2020. Retrieved February 27, 2022.
  4. Fineberg, Seth (12 September 2011). "Acumatica Gets Distribution and Financing Deal, Eyes Accountants". Accounting Today. SourceMedia. Retrieved 12 September 2011.
  5. "Acumatica Cloud ERP Appoints Yury Larichev as Chief Executive Officer". seattlepi.com. Archived from the original on 2013-02-16.
  6. "Acumatica Moves Headquarters to Seattle Area". Accounting Technology. December 3, 2012. Archived from the original on February 7, 2013. Retrieved December 13, 2012.
  7. Fineberg, Seth (6 March 2013). "Acumatica Releases Version 4 Of Cloud ERP Software". Information Management. Retrieved 23 May 2013.
  8. "Former Microsoft VP Jon Roskill named Acumatica CEO". Press release. 5 March 2014. Retrieved 5 March 2014.
  9. "Acumatica Launches Cloud xRP Platform Enabling Software Companies to Get to SaaS Fast". Press release. Retrieved 30 December 2014.
  10. "Acumatica Unveils 5.0 Beta, Honors Partners at 2014 Summit". Press release. Archived from the original on 31 December 2014. Retrieved 30 December 2014.
  11. "Acumatica Raises Over $13 Million in New Funding Round Led by Bain Capital-Owned MYOB". Press release. Retrieved 30 December 2014.
  12. John Cook (October 21, 2014). "Cloud accounting startup Acumatica raises $13 million, looks to battle NetSuite". Geek Wire. Retrieved February 27, 2022.
  13. "Accel-KKR funds Acumatica for continued growth - Enterprise Times". Enterprise Times. 2018-06-19. Retrieved 2018-06-22.
  14. Perez, Yessi Bello (May 6, 2020). "Runa Capital has $157M to spend — and will now also back deep tech and quantum startups". The Next Web. The Next Web. Retrieved June 16, 2020.
  15. "Acumatica and BDO Partner to Accelerate Digital Transformation and Disrupt Industry Landscape". 12 December 2019.
  16. "JAAS Systems Sells Manufacturing Software Business To Acumatica". 23 April 2020.
  17. Jim O’Donnell (April 29, 2021). "Acumatica ERP upgrade built around customer needs". Tech Target. Retrieved April 14, 2022.
  18. "Acumatica Streamlines Personalization and Advances Core Business Processes with 2021 R2 Launch". Yahoo!. September 22, 2021. Retrieved April 14, 2022.
  19. Taylor Soper (January 25, 2022). "Acquisition news: Acumatica buys IBS Imperium app; APImetrics swoops up API Science: PDQ acquires SmartDeploy". Geek Wire. Retrieved February 27, 2022.
  20. O'Gara, Maureen (2009-12-05). "Azure Gets its First Commercial ERP App". Cloud Computing Journal.
  21. McLaughlin, Kevin (2009-06-25). "Startup Acumatica Brings CRM, ERP To The Web". ChannelWeb. Archived from the original on 2013-01-21.
  22. New Acumatica CEO Plans for Growth, Nucleus Research, April 2014(registration required)
  23. "Acumatica Cloud ERP Now On AWS Test Drive". Panorama Consulting Solutions. 2015-02-23. Retrieved 2018-06-22.
  24. "Acumatica: ERP on Windows Azure". Channel Futures. 2009-11-19. Retrieved 2018-06-22.
  25. Roe, David (2009-05-27). "Acumatica Business Management Suite Hosted Anywhere You Want". CMS Wire.
  26. "2011 RED HERRING GLOBAL TOP 100". Red Herring. Retrieved 2 August 2015.
  27. Hickey, Andrew R. "The 20 Coolest Cloud Software Vendors". CRN. Retrieved 2 August 2015.
  28. "The 20 Coolest Cloud Software Vendors Of The Cloud 100". Slideshow. CRN. Retrieved 23 May 2013.
  29. "Acumatica Cloud ERP Named SIIA Software CODiE Award Finalist for Best Supply Chain Management Solution". Press release. PR Web. Retrieved 23 May 2013.
  30. "The Top 50 Russian Start-Ups". Article. Russia Behind the Headlines. Archived from the original on 2013-08-22. Retrieved 23 May 2013.
  31. "2014 New Product Awards & Product Management Categories". Stevie Awards. Retrieved 2015-08-02.
  32. "Acumatica Wins SIIA Software CODiE Award". finance.yahoo.com. Archived from the original on 2014-12-31.
  33. "Acumatica Wins Best Cloud ERP Solution". Dynamic Tech Services. Dynamic Tech Services. 2017. Retrieved June 23, 2020.
  34. "Acumatica takes award for Best ERP Software | IOL Business Report". Retrieved 2017-11-15.
  35. "Acumatica lands $25M, plans bigger challenge to SAP, Oracle, other cloud business software rivals". 18 June 2018.
  36. "2019 IDEA Awards". 425 Business. 425 Business. November 22, 2019. Retrieved June 23, 2020.
  37. Needleman, Ted (December 27, 2019). "The Best Inventory Management Software for 2020". PC Magazine. PC Magazine. Retrieved June 23, 2020.
  38. "5 Executives and 100 Companies and Products Leading in Innovation in 2020". Business Intelligence Group. Retrieved 2020-03-12.
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