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 Bellevue, WA (Seattle metropolitan area).[1]

Acumatica
Privately held company
IndustryComputer software
SuccessorEQT AB Group 
Founded2008 (2008) in Bethesda, Maryland
FounderSerguei Beloussov 
Headquarters
Bellevue, Washington
,
United States
Key people
Serguei Beloussov
(Executive Chairman and Founder)
Mike Chtchelkonogov
(CTO and Founder)
John Howell
(Director and Founder)
Jon Roskill
(CEO)
Kirill Tatarinov
(Director and Advisor)
ProductsAcumatica Cloud ERP
Financial Management
Customer Management
Inventory Management
Project Accounting
Field Services Edition
Manufacturing Edition
Distribution Edition
Commerce Edition
Construction Edition
Number of employees
300+ (2018)
ParentEQT AB Group 
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. Acumatica's distribution software came a year later in April 2010.

Acumatica received an investment from Visma in September 2011.[2]

In 2013, Yury Larichev became the company's Chief Executive Officer, soon after the company moved its headquarters to Kirkland, WA.[3][4]

In March of the same year, Acumatica launched version 4.0 of its ERP suite, which introduced a new user interface as well as Acumatica Studio for ERP app development.[5]

In March 2014, former Microsoft VP Jon Roskill was named Acumatica's new CEO.[6] Acumatica launched its xRP Cloud Platform 2 months later.[7] In the fall of 2014, Acumatica released the beta version of its new suite, Acumatica 5.0.[8] Around the same time, Acumatica secured over $13 million in funding in an effort led by MYOB.[9]

In January 2018, Kirill Tatarinov, a long-time software industry executive and former President of the Microsoft Business Solutions Division, with end-to-end responsibility for the Microsoft Dynamics business, joined the Board of Directors.[10]

In June 2018, Acumatica secured a $25 million Series C round of funding led by Accel-KKR, a Silicon Valley technology-focused investment firm.[11] Acumatica will use this investment to support growth, add headcount and fund further development of artificial intelligence (AI), machine learning capabilities embedded in its software.

In June 2019, private equity fund EQT Partners acquired Acumatica.[12]

In December 2019, Acumatica announced a partnership with accounting and advisory firm BDO USA.[13]

In April 2020, Acumatica acquired JAAS Advanced Manufacturing Software from JAAS Systems.[14]

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.[15][16][17]

Acumatica's SaaS offering runs on Amazon Web Services (AWS)[18] and Windows Azure[19] and SQL Azure.[15] Acumatica's licensed software runs on a Microsoft Windows Server with a Microsoft SQL database. Applications run as .NET managed code.[20]

Recognition

In 2012, Acumatica was named a Top 100 Global Finalist by Red Herring[21] and number 1 in the Top 20 Coolest Cloud Vendors by CRN.[22]

In 2013, Acumatica was named one of CRN's "20 Coolest Cloud Software Vendors of the Cloud" for "solid growth throughout 2012" and its "ability to offer ERP in a SaaS model or hosted on-premises" in a data center or the cloud.[23] Acumatica was a finalist for the 2013 SIIA Software Codie awards for Best Supply Chain Management Solution,[24] and it was also recognized as one of the top 50 Russian start-ups of the year.[25]

In 2014, Acumatica won a Gold Stevie in the "New Product or Service of the Year" category for its Cloud Platform.[26] Acumatica was awarded a SIIA Software Codie award in May of the same year for Best Supply Chain Management Solution.[27]

In 2016, Acumatica won the SIIA CODiE Award for Best Supply Chain Management Solution.[28]

In August 2017, Acumatica Cloud ERP had received PC Mag Editors' Choice Awards for Best ERP Software.[29] Also in 2017, Acumatica won the SIIA CODiE Award for Best Cloud ERP Solution.[28]

In 2018, Acumatica received IT research company Gartner's highest score for customer satisfaction.[30]

At the 2019 IDEA Awards, Acumatica was listed as a finalist for Most Innovative Business.[31] PC Magazine also named Acumatica among the top ten Best Inventory Management software for 2020 in late 2019.[32]

In January 2020, Acumatica's CEO Jon Roskill was named a winner in the 2020 BIG Innovation Awards by the Business Intelligence Group.[33]

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References
  1. 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.
  2. Fineberg, Seth. "Acumatica Gets Distribution and Financing Deal, Eyes Accountants". Accounting Today. SourceMedia. Retrieved 12 September 2011.
  3. "Acumatica Cloud ERP Appoints Yury Larichev as Chief Executive Officer". seattlepi.com. Archived from the original on 2013-02-16.
  4. "Acumatica Moves Headquarters to Seattle Area". Accounting Technology. December 3, 2012. Archived from the original on February 7, 2013. Retrieved December 13, 2012.
  5. Fineberg, Seth (6 March 2013). "Acumatica Releases Version 4 Of Cloud ERP Software". Information Management. Retrieved 23 May 2013.
  6. "Former Microsoft VP Jon Roskill named Acumatica CEO". Press release. Retrieved 5 March 2014.
  7. "Acumatica Launches Cloud xRP Platform Enabling Software Companies to Get to SaaS Fast". Press release. Retrieved 30 December 2014.
  8. "Acumatica Unveils 5.0 Beta, Honors Partners at 2014 Summit". Press release. Archived from the original on 31 December 2014. Retrieved 30 December 2014.
  9. "Acumatica Raises Over $13 Million in New Funding Round Led by Bain Capital-Owned MYOB". Press release. Retrieved 30 December 2014.
  10. Arrowsmith, Ranica (January 24, 2018). "Former Microsoft exec joins Acumatica board". Accounting Today. Accounting Today. Retrieved June 16, 2020.
  11. "Accel-KKR funds Acumatica for continued growth - Enterprise Times". Enterprise Times. 2018-06-19. Retrieved 2018-06-22.
  12. 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.
  13. "Acumatica and BDO Partner to Accelerate Digital Transformation and Disrupt Industry Landscape". 12 December 2019.
  14. "JAAS Systems Sells Manufacturing Software Business To Acumatica". 23 April 2020.
  15. O'Gara, Maureen (2009-12-05). "Azure Gets its First Commercial ERP App". Cloud Computing Journal.
  16. McLaughlin, Kevin (2009-06-25). "Startup Acumatica Brings CRM, ERP To The Web". ChannelWeb. Archived from the original on 2013-01-21.
  17. New Acumatica CEO Plans for Growth, Nucleus Research, April 2014(registration required)
  18. "Acumatica Cloud ERP Now On AWS Test Drive". Panorama Consulting Solutions. 2015-02-23. Retrieved 2018-06-22.
  19. "Acumatica: ERP on Windows Azure". Channel Futures. 2009-11-19. Retrieved 2018-06-22.
  20. Roe, David (2009-05-27). "Acumatica Business Management Suite Hosted Anywhere You Want". CMS Wire.
  21. "2011 RED HERRING GLOBAL TOP 100". Red Herring. Retrieved 2 August 2015.
  22. Hickey, Andrew R. "The 20 Coolest Cloud Software Vendors". CRN. Retrieved 2 August 2015.
  23. "The 20 Coolest Cloud Software Vendors Of The Cloud 100". Slideshow. CRN. Retrieved 23 May 2013.
  24. "Acumatica Cloud ERP Named SIIA Software CODiE Award Finalist for Best Supply Chain Management Solution". Press release. PR Web. Retrieved 23 May 2013.
  25. "The Top 50 Russian Start-Ups". Article. Russia Behind the Headlines. Archived from the original on 2013-08-22. Retrieved 23 May 2013.
  26. "2014 New Product Awards & Product Management Categories". Stevie Awards. Retrieved 2015-08-02.
  27. "Acumatica Wins SIIA Software CODiE Award". finance.yahoo.com. Archived from the original on 2014-12-31.
  28. "Acumatica Wins Best Cloud ERP Solution". Dynamic Tech Services. Dynamic Tech Services. 2017. Retrieved June 23, 2020.
  29. "Acumatica takes award for Best ERP Software | IOL Business Report". Retrieved 2017-11-15.
  30. "Acumatica lands $25M, plans bigger challenge to SAP, Oracle, other cloud business software rivals". 18 June 2018.
  31. "2019 IDEA Awards". 425 Business. 425 Business. November 22, 2019. Retrieved June 23, 2020.
  32. Needleman, Ted (December 27, 2019). "The Best Inventory Management Software for 2020". PC Magazine. PC Magazine. Retrieved June 23, 2020.
  33. "5 Executives and 100 Companies and Products Leading in Innovation in 2020". Business Intelligence Group. Retrieved 2020-03-12.
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