Intacct raises $7 million; promises guerrilla campaign against SAP/Oracle

May 21, 2006 | Matt Marshall

Intacct is a company trying to undercut the big boys, SAP and Oracle, by selling cheaper Web-based financial applications.

The San Jose-based company will announce tomorrow that it has raised $7 million in a second round of venture capital, led by Emergence Capital and including existing investors Hummer Winblad and JK&B Capital.

Bob Jurkowski, chief executive, told us the company had a record quarter, and is working closely with Saleforce.com to acquire new customers. It lets Salesforce.com handle a customer’s sales management applications, but Intacct wants to manage the “backend” needs of its customers, including things such as project management, and supply-chain management.

Jurkowski said he is launching some guerrilla marketing tactics, similar to those of smaller competitor Netsuite, which tried to fluster SAP last week by setting up a conference across the street from SAP’s own SAPPHIRE customer conference (Netsuite failed to pull it off). For his part, Jurkowski didn’t reveal any details.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.