Intacct Wins $13.5M In Funding

San Jose-based Intacct, the developer of cloud-based accounting and financial management software, said yesterday that it has raised $13.5M in a new funding round. The financing include both equity and debt. The equity funding was worth $7.5M, and was led by Split Rock Partners, and also included Bessemer Venture Partners, Emergence Capital, Sigma Partners, and Sutter Hill Ventures. The debt portion of the funding came from Silicon Valley Bank, in the form of a $6M line of credit. The firm said the funding will go towards driving growth, its product, and expanding distribution. Intacct is led by Robert Reid. More information »