RealTime IT News

Acta Technology Gets $14.5 Million Capital Infusion

Data warehousing company Acta Technology Inc. said it has raised $14.5 million in its third round of financing, bring the company's funding total to $24 million.

"Acta has developed an impressive suite of solutions," said Garrett Van Wagoner, president of Van Wagoner Funds, the lead investor in the third-round.

"We anticipate that this funding will further fuel the company's growth, and we look forward to working with Acta to help them achieve their business goals."

Acta develops software for extracting and analyzing data from ERP (enterprise resource planning) applications.

Proceeds from the latest round of funding will be used to support Acta's RapidMarts, a suite of packaged data warehouses for targeted areas of business analysis including Sales Analysis RapidMarts, Cost Analysis RapidMarts, Inventory Management RapidMarts, and AR/AP (Accounts Receivable/Payable) RapidMarts.

Acta's customers include Chevron, Shell Chemical Co. and Guinness. Other investors in the third round were Sycamore Venture Capital, Colman Partners, and Comdisco Ventures.

They were joined by existing investors U.S. Venture Partners, Norwest Venture Partners, and Greylock Limited Partnerships.