Akumina decided to tackle a long-standing tech problem–making Microsoft SharePoint into a tool with which companies could easily manage their Web sites. Marketing departments could now focus on improving their website’s KPIs, while using a platform preferred by the IT department. Akumina began growing rapidly, and needed capital to continue to develop software, and increase its marketing.
Even highly profitable software companies often lack the collateral required by most bank lenders. Furthermore, Akumina’s founders wanted an investor who could serve as a trusted advisor as they continued to grow the company, develop a positive work culture, and seek future rounds of growth funding.
Why VFG made this investment
Akumina’s market strategy was clear, and its product financially viable and highly scalable. Even more critically, its management team possessed strong records in previous careers, a deep understanding of what makes a software company successful, and a focus on employees and corporate culture as a key driver of success. It was easy to see how the team had reached profitability in less than 18 months and that Akumina was going to continue to grow.
Since VFG’s investment in 2013, Akumina’s InterChange product has caught the attention of SharePoint administrators and end users, system integrators, media, and analysts. As it grows its Microsoft SharePoint software business, Akumina’s services organization continues to deliver high-quality, easy-to-manage websites for Walmart, DIRECTV, Dolby, PBS, C-Span and others. Akumina has more than doubled its number of employees, and in 2014 was named a Hot Vendor in Web Content Management by Aragon Research.