Sage Intacct, Inc is an American provider of cloud-based accounting software and services available a number of regions around the globe – including the United States, Canada, the UK, Australia, and South Africa.[1][2][3] Its products offer cloud-based accounting applications that enable business payments, manage and pay bills, and facilitate payroll functions.[4][5]
The company was founded in 1999 and it was acquired by The Sage Group for $850 million in 2017.[6]
History
Intacct was founded by Odysseas Tsatalos and David Chandler Thomas in 1999 as one of the first accounting applications for the cloud.[7] The company was headquartered in San Jose, California, grew organically and offered a suite of accounting software that could serve medium and large-sized businesses with consolidated ERP, and e-commerce features.[8][9][10]
In 2000, Intacct got its first institutional investor, venture capital firm HWVP and completed a Series A round of $10 million.[11][12] From 2001 to 2014, the company raised $130 million in funding primarily led by the Battery Ventures, BVP, Sigma Partners and Emergence Capital with the last round of $30 million in 2014 with the company valuation of $211 million.[13][14][15]
In 2017, Intacct Corporation was acquired by the British multinational accounting software company, The Sage Group PLC, for $850 million and was subsequently rebranded as Sage Intacct.[1]
Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions.[24][25] In addition to its US offices, it also operates in India and Romania,[26] as well as product localizations being developed at Sage's other international offices such as Barcelona, Spain, Newcastle upon Tyne, UK and Poland.[27] Sage Intacct has more than 14,000 customers and nearly 500 employees across the world.[citation needed]
Awards and recognition
2016 BIG Innovation Awards recognized by the Business Intelligence Group.[28]
