Cisco-Backed Almaz Capital Announces Investment in Acumatica.Investment to accelerate commercialization of flexible on-premise and SaaS ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. and CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. software BETHESDA Bethesda, city, United States Bethesda, uninc. city (1990 pop. 62,936), Montgomery co., W central Md., an affluent residential and commercial suburb of Washington, D.C. The area was settled in the late 17th cent. , Md. -- The Almaz Capital Russia Fund I, backed by Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , today announced an investment in Acumatica. The investment will be used to accelerate commercialization of Acumatica's Software as a Service (SaaS) and on-premise solution, providing a flexible alternative to ERP and CRM software vendors that force a choice between being on-premise-only or SaaS-only. Acumatica's accounting, ERP, and CRM software for mid-market enterprises is designed as a highly customizable web application with the flexibility to be hosted on-premise, at a datacenter, or on a cloud computing (1) Running applications in or from network servers. Computing "in the cloud" may refer to a company's own network, but often refers to the Internet and the use of Web browser-based or rich client applications. platform. Acumatica's advanced financial features include flexible account structures, multi-currency operations, and support of multiple accounting standards. "The investment in Acumatica reflects our ongoing support and professional interest in cloud technologies and associated business opportunities," said Alexander (Sasha) Galitsky, Co-founder and Managing Partner of Almaz Capital Partners. "We firmly believe Acumatica has the potential to be a game changer Changer The name given to a clearing member that is willing to assume the opposite position of a futures contract within a larger alternative exchange, of which it also is a clearing member. ." "Acumatica is well positioned to help mid-market enterprises safely transition to web and cloud computing technology," said Ezequiel Steiner, Chief Executive Officer of Acumatica. "The investment from Almaz will accelerate our ability to deliver advanced accounting and ERP solutions on-premise or as SaaS." About Almaz Capital Partners Almaz Capital Partners is a venture capital firm that invests in Russian/CIS related technology, digital media, and communications companies Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. . The Almaz Capital Russia Fund was formed in July 2008, when it completed an initial closing with a $30 million anchor investment from Cisco. The firm has offices in Silicon Valley and Moscow. Additional information about Almaz Capital Partners can be found at www.almazcapital.com. About Acumatica Acumatica develops an integrated set of web-based accounting, ERP, and CRM software that can be deployed on premise, hosted at a datacenter, or run on a cloud computing platform. Using Acumatica, mid-sized businesses can access their applications and documents from anywhere using a web-browser. Acumatica streamlines business tasks such as accounting, financial reporting, customer management, customer invoicing in·voice n. 1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill. 2. The goods or services itemized in an invoice. tr.v. , vendor payments, expense reporting, inventory management, and much more. Acumatica includes a complete set of business applications, reporting tools, and customization tools. Acumatica is distributed through a world-wide network of partners. Learn more at www.acumatica.com. |
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