XDATA – September 29th 2014
FinancialForce.com is currently in the market with a $29.02 million non-brokered placement based on information filed with the SEC. The placement, which hasn’t started to sell, is structured to close in September 2015 or once the placement is fully subscribed. The company closed three previous unregistered private placements which raised an estimated $36.94 million.
It is unclear if this transaction is part of UNIT4’s further commitment in the company following its acquisition by Advent International. According to a press release issued on April 24th, Advent green-lighted a $50 million commitment by UNIT4 in FinancialForce. If this is the case, the placement is likely closed.
FinancialForce.com develops and markets a cloud-based enterprise resource planning applications (apps) built on salesforce1 platform. Apps include financial management, human capital management (HCM), professional services automation (PSA), and supply chain management (SCM) to enable businesses to increase the speed in which they operate and be more responsive. The company is backed by UNIT4 and salesforce.com.
The company, headquartered in San Francisco CA, is led by Jeremy Roche (President and CEO). FinancialForce.com kept its revenues undisclosed.
The board of directors includes Chris Ouwinga, Eric Wei, Jose Duarte, Kevin Costello, Michael Rosenbaum and Patrick Blair.
Industry: Other Technology
Amount offered: $29.02 million
First sale: 08-07-2014
Data as of: 09-27-2014