Fremont, CA.-based Accept, provider od innovation management software, closed its $17m Series B financing.
The round was led by StarVest Partners with participation by existing investors Jefferson Partners and The Entrepreneurs Fund.
The proceeds will be used to develop the company’s product line and expand sales and marketing to respond to growing customer demand.
Explained the reasons behind the investment, Larry A. Bettino, general partner at StarVest Partners, said: “In Accept, we saw a company solving a significant customer problem.
“They are indicative of a next-generation Software-as-a-Service company we like to invest in. Accept has excellent customers, innovative products, and an experienced team with the ability to execute in a very tough time. We look forward to working with them as they continue their strong growth”.
FinSMEs
17/09/2009