Fenwick & West LLP represented Intacct Corporation, a leader in cloud-based financial management and accounting software, in its recently announced $45 million financing round that was a combination of venture funding and a debt package. The majority of the new financing resulted from a $30 million venture funding round led by Battery Ventures, a new Intacct investor, and joined by Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, Split Rock Partners and Morgan Creek Capital Management. In addition, Chelsea Stoner, general partner at Battery Ventures, has also joined the Intacct board of directors.
The new funds will be used to further invest in company growth and expanded product capabilities. More information on Intacct’s $45 million financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate partner Steven Levine; and corporate associate Cynthia Kaneshiro.