Tracxn - ERP Sector Startup Landscape

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - ERP - Aug 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on August 10, 2019.
ERP Feed Summary
4
ERP > Feed Summary
Enterprise resource planning software- a suite of integrated applications that an organization can use to collect, store,
manage, and interpret data from multiple business activities.
• Inclusions: Company that provides cloud-based
or/and on-premise integrated business management
solution for generic/particular industry sharing a
central database. Also includes companies that
provides end to end business management application
to small and medium businesses.
• Exclusions: Companies that provides ERP
consultancy, implementation, testing and maintenance
services. Also excludes company that develops point
based business applications.
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$7.9B
Funding
60
Mega
Companies
3474253
FundedCovered on
Tracxn
-
Unicorns
9
Soonicorns
21
Minicorns
45
IPO’d Cos
120
Late Stage Cos
57
180
Acquisitions
142
DeadPooled
1
Acquihired
Series A+ Cos
Infor
(2002, New York City, $3.5B)
Sage Group
(1997, Newcastle Upon Tyne)
SAP
(1972, Walldorf)
Top Companies

Investment Trend Summary
Summary of Funding Activity in ERP
5
$1.5B - PE
Infor (2002, New York City, $3.5B)
$40M - Series A
Deskera (2008, Singapore, $120M)
$1.4B - PE
The Access Group (1991, London, $1.5B)
$25M - Series C
Acumatica(2007, Kirkland, $55M)
$166M - Series D
Lightspeed (2005, Montreal, $292M)
$20M - Series B
Omie (2013, Sao Paulo, $27M)
$60M - Series E
freee (2012, Tokyo, $142M)
$20M - Series A
Restaurant365 (2011, Irvine, $20M)
$60M - Series A
$15M - Series C
Brightpearl (2007, Bristol, $50.5M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
ERP > Feed Summary > Investment Trend Summary
Seed Earlybird Venture Capital (#1), XAnge (#1), Inovia Capital (#1)
Series A/B Bessemer Venture Partners (#1), TCV (#1), Cisco Investments (#1)
Series C+
Accel-KKR (#3), Elvaston Capital Management (#2), Battery
Ventures (#1)
Incubators 500 Startups (#4), IIDF (#3), Startup Wise Guys (#3)
Other Notable
Investors
Elliott Management (#2), Riverwood Capital (#2), Credit Suisse
(#1)
Debt Investors InnoVen Capital (#3), Silicon Valley Bank (#2), Siparex (#2)
Most Active InvestorsRecent Investments
274
310
267
194
210
64
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 38 43 45 47 42 17
$5.2B
$1.8B
$328M
$155M
$138M
US
Europe
Canada
Australia
SEA
$ Funding
$1.6B
$341M $366M
$82M
$2.2B
$1.7B
$2.4B
26
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in ERP
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Bain Capital Private
Equity
2
TriTech (1992, San Diego)
MYOB (1991, Glen Waverley)
InterWest Partners 2
Workday (2005, Pleasanton, $352M)
Epicor (1972, Austin, $20M)
Battery Ventures 2
Baan (1978, Barneveld)
Aptean (2012, Atlanta)
HarbourVest
Partners
2
Herald Investment
Management
2
Sanderson (1983, Coventry)
SAP (1972, Walldorf)
Dec 2016 Deltek Acq by Roper Technologies for $3B
Jul 2016 NetSuite Acq by Oracle for $9.3B
Jul 2016 Epicor Acq by KKR for $3.3B
Oct 2015 Wincor Nixdorf Acq by Diebold for $1.9B
Feb 2014 Unit4 Acq by Advent International for $1.6B
Apr 2011 Lawson Software Acq by Infor for $2B
Jun 2003 J.D. Edwards & Company Acq by Peoplesoft for $1.7B
ERP > Feed Summary > Exit Outlook Summary
KerridgeCS 6
Datawright (Oct 2012), Current RMS (Oct 2018), Lakeview
(Dec 2017)
Infor 6
Lawson Software (Apr 2011, $2B), SSA Global
Technologies (May 2006, $1.4B), Mapics (Jan 2005, $375M)
Aptean 4
Sanderson (Aug 2019, $110M), OPTIWARE (May 2019),
Apprise (May 2017)
JDM Technology
Group
4
CSSP (Jun 2011), Levesys (Nov 2015), Integrity Software (Feb
2015)
Unit4 4 Teta (Nov 2010), Agresso, Exie (Jun 2011)
Recent IPOs Top Acquisitions
CDK Global Sep 2014
Information technology and digital market…
IPO MCap: -
Just planning Jul 2013
Business management application for resta…
IPO MCap: -
Sage Group Jun 2013
Accounting, HR and ERP solutions for SMEs…
IPO MCap: -
Workday Oct 2012
Human Resources and Financial Management…
IPO MCap: $4.5B
Lightspeed Mar 2019
Cloud-based retail management software fo…
IPO MCap: $191M
B Break Systems Jun 2017
Business system solutions provider
IPO MCap: -
Extensity Oct 2015
Financial performance management software…
IPO MCap: -
MYOB May 2015
Business management solutions provider.
IPO MCap: -

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
FACTSHEET
Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.
Feed Report - ERP - Aug 2019
Marketmap: ERP
FARM MANAGEMENT
AGRICULTURERETAIL
RETAIL
E-COMMERCE
SERVICE
PROFESSIONAL SERVICE
EDUCATION
HOSPITALITY
ENTERPRISE SMB
MULTI-INDUSTRY
INDUSTRIAL
MANUFACTURING
CONSTRUCTION
PROCESS
DISCRETE
Overview
Companies 4253
Funded 347 Series A+ 120
Funding $7.9B Last 2 yrs $3.5B
Most Active Investors
Seed Earlybird Venture Capital (1)
Series A/B Bessemer Venture Partners (1)
Series C+ Accel-KKR (3)
Others Elliott Management (2)
Incubators 500 Startups (4)
Top Cities
New York City 30 Cos $3.5B
London 42 Cos $1.5B
Feed in Numbers
Unicorns - Soonicorns 9
Minicorns 21 Editor Picks 238
Acquihired 1 Deadpooled 142
Top Companies
Sage Group (1997, Newcastle Upon Tyne)
Exits
IPOs 45 Workday, Lightspeed
Acquisitions 180 NetSuite, Epicor
Top Acquirers KerridgeCS, Infor
ERP > Feed Summary > BlueBox
7

Key Sub Sectors in ERP Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Multi-Industry >
SMB-Focused 819 $212M 11
Retail >
E-commerce 28 $27.4M 5
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Multi-Industry
Companies that develop ERP software for enterprises
and SMB's across multiple sectors...
1991 135 $5B
Manufacturing
Companies that develop ERP software for
manufacturers
445 40 $1.8B
Retail
Companies that develop ERP software for the retail
industry
341 32 $504M
Professional Services
Companies that develop ERP software for professional
services individuals and agencies...
128 21 $159M
Waste Management & Recycling
Companies that develop ERP for wastewater
management and the recycling industry
25 1 $103M
Aviation
Companies that develop operation management
solution for the aviation industry
29 8 $67.6M
Hospitality
Companies that develop ERP software for the
hospitality industry
137 20 $58.9M
ERP > Feed Summary > Summary of Key Markets

List of Notable Companies in ERP
Notable Companies in the Sector (1/2)
9
Note: *(Founded Year, Location, Total Funding)
ERP > Feed Summary > Notable Companies in the Sector
Public
Workday
(2005, Pleasanton, $352M)*
QAD
(1979, Santa Barbara)
Lightspeed
(2005, Montreal, $292M)
TechnologyOne
(1987, Valley)
24SevenOffice
(1997, Oslo, $2M)
Cegid
(1983, New York City, $900k)
SAP
(1972, Walldorf)
TOTVS
(1983, Sao Paulo)
Tyler Tech
(1966, Plano)
Altec
(1986, Athens)
Public
American Software
(1970, Atlanta)
Asseco Business
Solutions
(2007, Lublin)
Axiomsys Technology
(1996, Dubai)
Ide
(2008, Houston)
ITSA
(2016, Rio Claro)
Just planning
(1994, Tokyo)
Link Computer
(1984, Istanbul)
Simple
(1988, Warsaw)
Ares International
(1980, Taipei)
Public
Aviv Advanced
Solutions Software
(1989, Netanya)
B Break Systems
(2002, Tokyo)
Entersoft
(2002, Athens)
Springform
Technologies
(1979, Mumbai)
Comarch
(1993, Krakow)
ILYDA
(1992, Athens)
Logo Yazılım
(1984, Gebze)
Synergy Resources
(1992, Central Islip)
Acquired
NetSuite
(1998, Redwood Shores, $220M)
Epicor
(1972, Austin, $20M)
Deltek
(1983, Herndon, $107M)
Lawson Software
(1975, Paul, $40M)
Wincor Nixdorf
(1952, Paderborn)
J.D. Edwards &
Company
(1977, Denver)
Unit4
(1980, Sliedrecht)
ConnectWise
(1982, Tampa)
SSA Global
Technologies
(1981, Chicago)
Acquired
Navision
(1985, Vedbaek)
TeamSystem
(1979, Pesaro)
MYOB
(1991, Glen Waverley)
Industrial and Financial
Systems (IFS)
(1983, Linkoping)
Aptean
(2012, Atlanta)
Geac Computer
Corporation
(1971, Toronto)
Juvare
(2014, Atlanta)
IQMS
(1989, Paso Robles, $75M)
Mapics
(1977, Alpharetta)

List of Notable Companies in ERP
Notable Companies in the Sector (2/2)
10
ERP > Feed Summary > Notable Companies in the Sector
Acquired
NSB Group
(1995, Reading)
TriTech
(1992, San Diego)
Acceo
(1988, Montreal)
Solarsoft
(1986, Richmond Hill)
Baan
(1978, Barneveld)
Sanderson
(1983, Coventry)
Changepoint
(1994, Richmond Hill, $5.5M)

List of Notable Companies by Market in ERP
Notable Companies by Market (1/10)
12
ERP > Feed Summary > Notable Companies by Market
Multi-Industry
Enterprise
Human Resources and Financial Management Suite
Editor's Pick. Stage: Public
T. Rowe Price, Morgan Stanley, Bezos Expeditions
and 8 Other Investors
FinancialForce (2009, San Francisco, $194M)
Cloud ERP solutions provider
Soonicorn. Stage: Series D
TCV, Salesforce, Advent International and 2 Other
Investors
Deltek (1983, Herndon, $107M)
ERP offering for governments and project-driven
organizations
Editor's Pick. Stage: Acquired
Prospect Street Ventures, Quilvest Private Equity,
New Mountain Capital and 1 Other Investors
Enterprise
Lawson Software (1975, Paul, $40M)
ERP software provider for enterprises
TA Associates Management, SEO Service Agent,
Split Rock Partners
Business management software solutions
CPP Investment Board, Trident Capital, Coral
Capital and 5 Other Investors
Extensity (1997, Toronto, $14M)
Financial performance management software
Stage: Acquired
JD Edwards, Visa, Lehman Brothers and 9 Other
Investors
Enterprise
Ramco (1997, Chennai)
AI-enabled SaaS-based software solutions for
aviation, logistics and HR sectors
HDFC Mutual Fund, Axis Mutual Fund, JOHCM and 1
Other Investors
Software solution for multi-channel selling
Herald Investment Management
Enterprise application software
Elliott Management, Quest for Growth, Herald
Investment Management and 1 Other Investors
TOTVS (1983, Sao Paulo)
ERP solution for range of industries and companies
Venture Partners do Brasil

13
Multi-Industry
Enterprise
Enterprise application software provider
Battery Ventures, Vista Equity Partners
Juvare (2014, Atlanta)
Enterprise incident management solution provider
Altec (1986, Athens)
Business management application for medium sized
enterprises
Stage: Public
Ares International (1980, Taipei)
Provider of consultancy and advisory services
Stage: Public
Asseco Business Solutions (2007, Lublin)
ERP software solution for business process
management
Stage: Public
Enterprise
Aviv Advanced Solutions Software (1989,
Netanya)
ERP solutions for various businesses and
organizations
Stage: Public
Axiomsys Technology (1996, Dubai)
Cloud-based ERP solution
Stage: Public
ERP Vendor
Stage: Acquired
Battery Ventures
CDC Software (2002, Atlanta)
Enterprise Software provider for finance,
manufacturing and healthcare industries
Stage: Acquired
Wells Fargo
Comarch (1993, Krakow)
Software solutions for IT enterprises
Stage: Public
Enterprise
Entersoft (2002, Athens)
Integrated business software
Stage: Public
I4G
Geac Computer Corporation (1971, Toronto)
Infor Enterprise Software Solutions for CRM, ERP,
SCM, EAM & More
Stage: Acquired
ITSA (2016, Rio Claro)
ERP software for various enterprises
Stage: Public
Link Computer (1984, Istanbul)
Stage: Public
Logo Yazılım (1984, Gebze)
Largest ERP provider for SMEs in Turkey
Stage: Public
Mediterra Capital, Diffusion Capital Partners

14
Multi-Industry
Enterprise
Simple (1988, Warsaw)
ERP software to support production companies
Stage: Public
Solarsoft (1986, Richmond Hill)
ERP for discrete manufacturing and distribution
and wholesale management
Stage: Acquired
Marlin Equity Partners
Springform Technologies (1979, Mumbai)
ERP solution for enterprises
Stage: Public
TechnologyOne (1987, Valley)
Largest software solution provider in Australia
Stage: Public
SMB-Focused
NetSuite (1998, Redwood Shores, $220M)
Cloud-based business management software suite
StarVest Partners, ADP, Meritech Capital Partners
Accounting & ERP management software for
businesses
Soonicorn. Stage: Series E
Line, Mitsubishi UFJ Financial Group, SBI
Investment and 6 Other Investors
Cloud based ERP, CRM, and HRMS solutions for mid
market enterprises
Soonicorn. Stage: Series A
Jungle Ventures, Cisco Investments, SIG and 6 Other
Investors
SMB-Focused
24SevenOffice(1997, Oslo, $2M)
SaaS based ERP for SMBs
Stage: Public
Seed Forum
J.D. Edwards & Company (1977, Denver)
ERP software for SMBs
Bain Capital Private Equity, Archer Capital, KKR and
2 Other Investors
Accounting, HR and ERP solutions for SMEs
Insight Venture Partners, ABS Ventures
B Break Systems (2002, Tokyo)
Stage: Public

15
Multi-Industry
SMB-Focused
Navision (1985, Vedbaek)
Integrated business software solution for SMBs
Stage: Acquired
Changepoint (1994, Richmond Hill, $5.5M)
PSA and PPM solutions
Stage: Acquired
JMI Management, Marlin Equity Partners, BEST
Funds
TeamSystem (1979, Pesaro)
ERP software for micro and small businesses
Hellman & Friedman, Palamon Capital Partners
Unit4 (1980, Sliedrecht)
ERP solutions for people- or service-based
organizations
Sageview Capital, Western Technology Investment
ConnectWise (1982, Tampa)
Business management platform
Stage: Acquired
Retail
Suite
Cloud-based retail management software for
omnichannel retailers
Canadian Imperial Bank of Commerce, Caisse de
depot et placement du Quebec, Invest Quebec and 6
Other Investors
Vend (2010, San Francisco, $45.9M)
Cloud based Retail POS
Qualgro GP, Movac, Square Peg Capital and 16
Other Investors
Cegid (1983, New York City, $900k)
Cloud-based software to allow merchants carry out
omni-commerce
CM-CIC Private Debt, Silver Lake, AltaOne Capital

16
Retail
Suite
EDP (1965, Sheffield)
ERP software solutions for merchants &
distributors
ILYDA (1992, Athens)
ERP & software for specialized vertical markets
Stage: Public
Global Emerging Markets
Wincor Nixdorf (1952, Paderborn)
Software solutions for retail and banking industry
Stage: Acquired
KKR
Offline
NSB Group (1995, Reading)
Software and services for the speciality retail
market
Stage: Acquired
E-commerce
SaaS based multi-channel eCommerce ERP
Soonicorn. Stage: Series C
Cipio Partners, Eden Ventures, MMC Ventures and 8
Other Investors

17
Manufacturing
Discrete
IQMS (1989, Paso Robles, $75M)
ERP software developer for manufacturing industry
TCV, Banneker Partners, Ares Capital Corporation
KeyedIn (2011, Minneapolis, $40M)
Cloud application building platform
Arrowroot Capital
QAD (1979, Santa Barbara)
Enterprise Manufacturing Software
Acceo (1988, Montreal)
Management & accounting software development
firm
Stage: Acquired
Industrial and Financial Systems (IFS)
(1983, Linkoping)
ERP solutions for manufacturing
Stage: Acquired
TIIN Capital, Zobito
Discrete
Mapics (1977, Alpharetta)
ERP software for manufacturers
Stage: Acquired
proALPHA (1992, Weilerbach)
Cloud-based ERP software developer
Stage: Acquired
Bregal Capital, Beaufort Capital, Sobera Capital
Synergy Resources (1992, Central Islip)
ERP for manufacturing with LEAN scheduling
Stage: Public
Mixed-Mode
SSA Global Technologies(1981, Chicago)
Manufacturing ERP software vendor.
Stage: Acquired
Red Rock Ventures

18
Horizontal
AMCS (2004, Limerick, $103M)
Software solutions provider for the waste
management & recycling industry
Insight Venture Partners, Ireland Strategic
Investment Fund, Silicon Valley Bank and 5 Other
Investors
Hospitality
Restaurants
Just planning (1994, Tokyo)
Business management application for restaurant
industry
Stage: Public
Digital Garage
Hotels
RoomKeyPMS (2009, North Vancouver)
Cloud-based hotel management software

19
Agriculture
Farm Management
MJ Freeway (2010, Denver, $29.5M)
SaaS based software for cannabis industry
Cresco Capital Partners, Batu Capital, Tao Capital
Partners and 2 Other Investors
Public Sector
Local Government
Tyler Tech (1966, Plano)
End-to-end information systems for local
governments
Public Safety
Public safety software suite
Stage: Acquired
FFL Partners, NewStar Financial, West View Capital
Partners and 3 Other Investors

20
Apparel
Suite
Ide (2008, Houston)
ERP software for the apparel industry
Stage: Public
Manufacturers
American Software (1970, Atlanta)
Supply Chain management and ERP Solutions
Stage: Public
Construction & Real Estate
Equipment Dealers
CDK Global (1972, Hoffman Estates)
Information technology and digital marketing
solution provider to the automotive & heavy
equipment retail industry
Elliott Management, Sachem Head Capital
Management

21
Mining
Mining
MineRP (1997, Centurion)
ERP solutions for mining industry
Soonicorn. Stage: Unfunded

List of Notable Companies in ERP in China
Notable Companies in the Sector in China
22
ERP > Feed Summary > Notable Companies in the Sector in China
Public
Digiwin
(1982, Shanghai, $10M)
Yonyou
(1988, Beijing)
Regentsoft
(1995, Guangzhou)
Shjysoft
(2012, Shanghai)

Recent News in ERP Sector
Recent News
23
ERP > Feed Summary > Recent News
Aug 2019 Seal Software arrives in SAP Ariba marketplace, Enterprise Times
Aug 2019
Five North Carolina Schools Select Tyler Technologies Under Master
Services Agreement, Business Wire
Aug 2019 Rimini Street Now Offering to Run Entire SAP Systems, eWEEK
Aug 2019
Imaged Advertising Creations Adds EFI VUTEk FabriVU 520,
inkworldmagazine.com
Aug 2019 Compeat Adds New Automated Payment Offering, Hospitality Tech
Aug 2019 Skynamo Joins Acumatica in Protecting Customers’ Data, PRWeb
Aug 2019
Averda’s growth supported by Ramco’s Next-Generation Workforce
Technologies, PRWeb
Aug 2019 MYOB boss Tim Reed departs, Reseller
Aug 2019 4C joins FinancialForce as customer and partner, Enterprise Times
Aug 2019 Ramco Systems net rises 66.67% on higher sales, The Hindu
Aug 2019 Lightspeed Reports 38 Percent Revenue Growth In Q1 2019, BetaKit
Aug 2019
Rolls-Royce selects IFS to unlock new data insights on aircraft
engines, AviTrader
Aug 2019
Trackunit and Point of Rental Join Forces to Empower Rental
Customers, forconstructionpros.com
Aug 2019 Juvare Expands Operations in European Market, PR Newswire
Aug 2019
Grant Thornton named Workday Advisory Services Partner, Business
Wire
Key Recent News Key Recent News
Aug 2019
ECI Releases Cognytics Dashboards and Analytics Platform, Business
Wire
Aug 2019
The prestigious London School of Economics goes live with
TechnologyOne Financials as part of its transformation programme,
Financial IT
Aug 2019
Elemica Enables Zero Disruption to Supply Chain on SAP Upgrades,
C Velocity
Aug 2019
ERPVAR.com Announces Strategic Partnership with OptiProERP,
Developer of ERP Software for Discrete Manufacturing, PRWeb
Aug 2019
Microsoft and Informatica team up to ease cloud data warehouse
migration, SiliconAngle
Aug 2019
Averda partners with Ramco Systems to integrate processes for its
employees in the Middle East and Africa,
africabusinesscommunities.com
Aug 2019 ERP software firm to expand in Bridgman, MiBiz
Aug 2019
Another EDI technology firm lists on Sage Intacct Marketplace,
Enterprise Times
Aug 2019
Wolters Kluwer to Showcase New Innovative ftwilliam.com
Solutions at the 2019 ASPPA College of Pension Actuaries (ACOPA)
Actuarial Symposium, PR Newswire
Aug 2019
Onapsis Unveils First-of-its-Kind Business-Critical Application
Protection Platform, Business Wire
Aug 2019
Tyler Technologies’ re:SearchTX Website Improves Access to Legal
Documents Across Texas, Business Wire

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
24
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in ERP; 2012-2019
Global Funding Trends (1/2)
26
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
ERP > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 1% # of Rounds37% $ Funding
5% # of Rounds
66% $ Funding
$1.6B
$254M
$94M
$341M $366M
$82M
$2.2B
$1.7B
$2.4B
0
5
10
15
20
25
30
35
40
45
50
$0k
$500M
$1.B
$1.5B
$2.B
$2.5B
$3.B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

$11M $892K $9M $11M $33M $12M $3M $1M
$128M
$79M
$171M
$44M
$15M
$39M $133M $92M
$116M $14M $162M $311M $34M $2.2B $1.5B $1.5B
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
15 6 15 16 24 30 11 7
12
10
16
15
11
11
16
7
4 5 7 12 10 6 15 3
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
31
17
Total # of Rounds
27
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in ERP; 2012-2019
ERP > Investment Trends > Global Funding Trends
21
14
20
21
21
10
7
114
$1.9M
$1.9M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
0
20
40
60
80
100
120
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.9M $3.3M $1.3M $1.5M $0.2M $2.5M $2.8M $1.9M
$254M
$1.6B
Total $ Invested
$1.6B
$185M
$33M
$252M $292M
$20M
$2.2B
$1.6B
$2.3B
5
0
1
2
3
4
5
6
7
8
0
500000000
1E+09
1.5E+09
2E+09
2.5E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
4 1 7 5 1 2 5 3

ERP > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in ERP
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
New York City 3.5B 18
London 1.5B 5
Bay Area 832M 45
Montreal 292M 4
Glen Waverley 155M 1
Singapore 138M 8
Redwood Shores 126M 7
Tokyo 115M 9
Herndon 107M 4
Limerick 103M 6
Total Funding
205
96
19
3
10
11
52
18
# Rounds
$5.2B
$1.8B
$328M
$155M
$138M
$121M
$106M
$29.6M
US
Europe
Canada
Australia
SEA
Japan
India
Latam
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.8
$0.2
$0.7 $0.8
$1.8
$0.6 $0.3
2012 2013 2014 2015 2016 2017 2018
ERP > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in ERP; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $20M
$239K $60M
$876K $35M
$179K $2B
$15M
$8M
$3M
$348K
Series C+
Series B
Series A
Seed
Stage
$15.0
$9.8
$14.8
$5.5
$7.3 $6.0
$57.8 $7.0 $27.0 $31.1 $8.5
$1083.0
$220.5
$9.4
$3.6 $2.0 $3.3 $1.9
$5.1
$12.2

Note: 201 companies with undisclosed funding amount are not included
30
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
57
58
28
8
10
No. of Companies
ERP > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in ERP; as of Aug 2019
Distribution of companies by Funding Range
$16M
$193M
$586M
$533M
$6.5B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
8%
3%
2%
1%
31
Note: Numbers in the brackets show the count of companies
Time to raise
next round
57
78
120
347
4253
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
8% 2%
(69)
2%
(74)
0%
(1)
3%
(141)
89%
(3764)
35% 15%
(53)
17%
(59)
- 2%
(7)
63%
(220)
65% 18%
(21)
16%
(19)
- 3%
(3)
33%
(39)
73% 24%
(19)
23%
(18)
- 3%
(2)
24%
(19)
- 32%
(18)
28%
(16)
- 2%
(1)
23%
(13)
ERP > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in ERP
Funding Funnel
16 Months
23 Months
24 Months
Investment backedBootstrapped
9
88
37
92
8
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
ERP > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in ERP; Aug 2017-Aug 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$1.5B - PE Jan 2019
Business Applications provider for the enterprise
Koch Equity Development, Golden Gate Capital
$1.4B - PE Apr 2018
The Access Group (1991, London, $1.5B)
ERP solutions for manufacturing industry
HgCapital Trust
$166M - Series D Oct 2017
Caisse de depot et placement du Quebec, Invest
Quebec, Inovia Capital, Silicon Valley Bank
$60M - Series E Aug 2018
businesses
Line, Mitsubishi UFJ Financial Group
LATE STAGE
$25M - Series C Jun 2018
Acumatica (2007, Kirkland, $55M)
Cloud and on-premise ERP, CRM and Financial
Software for SMEs
Accel-KKR
$15M - Series C Jul 2018
SaaS based multi-channel eCommerce ERP
Cipio Partners
$15M - Series C May 2018
KeyedIn (2011, Minneapolis, $40M)
Cloud application building platform
Arrowroot Capital
$10M - Series C Sep 2018
SaaS based software for cannabis industry
Cresco Capital Partners, Batu Capital
LATE STAGE
PE Sep 2018
TEAM Software (1989, Omaha)
Cloud based ERP and workforce management
software for contractors
Accel-KKR
Series D Dec 2018
Qualgro GP, Movac
Series C Apr 2018
Software solutions provider for the waste
management & recycling industry
Insight Venture Partners, Ireland Strategic
Investment Fund

EARLY STAGE
$60M - Series A Nov 2018
market enterprises
Jungle Ventures, Cisco Investments, SIG, InnoVen
Capital, ICT Fund
$40M - Series A May 2019
market enterprises
$20M - Series B Apr 2019
Cloud-based ERP and CRM solutions for SMBs
Riverwood Capital
$20M - Series A Jan 2018
Restaurant365 (2011, Irvine, $20M)
ERP solution for restaurants.
Bessemer Venture Partners
EARLY STAGE
$10M - Series B Jul 2018
TradeGecko (2012, Singapore, $20M)
Cloud-based sales and inventory management
platform for e-tailers
Perle Ventures, 33 Capital, TNB Ventures, Aura
Group
$8.8M - Series A Apr 2019
Specright (2014, Irvine, $12M)
ERP and PLM solution for packaging industry
Pritzker Group, Okapi Venture Capital, Fika
Ventures, Mucker Capital
$8.5M - Series B Sep 2017
DirectScale (2013, Lindon, $16M)
SaaS based business management solution for direct
sales companies
Grotech Ventures, Origin Ventures, Kickstart Seed
Fund
EARLY STAGE
$8.1M - Series B Nov 2018
CropIn (2010, Bangalore, $15.6M)
Farm management solutions
Chiratae Ventures, Bill and Melinda Gates
Foundation
$6.1M - Series A Sep 2018
Astella Investimentos
$5M - Series B Mar 2018
Hotelogix (2008, Noida, $10M)
Hotel Property & Booking Management Software
Vertex Ventures, Accel, Saama Capital
$3.5M - Series B Mar 2019
DirectScale (2013, Lindon, $16M)
SaaS based business management solution for direct
sales companies
$3.2M - Series A Apr 2018
Specright (2014, Irvine, $12M)
ERP and PLM solution for packaging industry

EARLY STAGE
$1.2M - Series A Sep 2017
Farm management solutions
Ankur Capital, Beenext, BSP Fund
$876k - Series B Mar 2018
Vinculum Solutions (2007, Noida, $12.7M)
Cloud-based end-to-end logistics and supply chain
solutions provider
Alteria Capital, IvyCap Ventures
SEED STAGE
$348k - Seed May 2019
Ample Organics (2014, Toronto, $445k)
ERP software for cannabis industry
$276k - Seed Dec 2017
Ecomdash (2013, Charlotte, $2.1M)
Inventory management software for ecommerce
companies
$150k - Seed Dec 2017
Ecomdash (2013, Charlotte, $2.1M)
Inventory management software for ecommerce
companies
$97.3k - Seed Jun 2019
Seed Jul 2018
Green Acre Capital, Osmington

ERP > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$62.9M - Series D May 2018
Meiweibuyongdeng (2013, Shanghai, $162M)
SaaS and PoS based solution for restaurants and
table booking app
Ctrip, Koubei
EARLY STAGE
Jushuitan (2014, Shanghai, $125M)
SaaS based ERP business application
Sequoia Capital
$35.8M - Series B Nov 2018
Blue Lake Capital
$14.6M - Series B Sep 2018
Yuan Jing Capital
SB China Capital, Blue Lake Capital, Z Capital Group
Series A Mar 2019
IK361 (2013, Chengdu, $2.3M)
Cloud based ERP tool

Most Active Investors (VC, PE) by Stage in ERP; Last 5 years (Aug 2014-Aug 2019)
Most Active VC & PE Investors
36
ERP > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Earlybird Venture Capital
Dcs Plus
1
XAnge
ONE UP
2
Inovia Capital
Swept
3
Altos Ventures Capital
ONE UP
4
Entree Capital
Mitosis Technologies
5
Almi
Omikai Systems AB
6
Rothenberg Ventures
Accelo
7
Rite Ventures
Lemonsoft
8
Blackbird Ventures
Accelo
9
Pelion Venture Partners
ZipBooks
10
EARLY STAGE
Restaurant365
1
TCV
IQMS
2
Cisco Investments
Deskera
3
Vertex Ventures
Hotelogix
4
Inovia Capital
Lightspeed
5
Chiratae Ventures
CropIn
6
A Plus Finance
Training Orchestra
7
Okapi Venture Capital
Specright
8
Accel-KKR
Kimble
9
DBJ Capital
Smile Works
10
LATE STAGE
Accel-KKR(3 Investments)
Acumatica, KerridgeCS, TEAM Software
1
Elvaston Capital Management (2
Investments)
GUS Group, Smart Systems
2
Battery Ventures
BPSC
3
CPP Investment Board
Epicor
4
Insight Venture Partners
AMCS
5
TCV
FinancialForce
6
Silver Lake
Cegid
7
JMI Management
Unanet
8
GI Partners
Daxko
9
SBI Investment
freee
10

ERP > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in ERP; Last 5 years (Aug 2014-Aug 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(4 Investments)
Farmeron, Squadle, Fulfil.IO
1
IIDF(3 Investments)
SimpleOrder, Fraisys, Smart ERP Projects
2
Startup Wise Guys(3 Investments)
PublishDrive, BloknotApp, MRPEasy
3
Innovacorp(2 Investments)
Swept, WoodsCamp
4
Wayra(2 Investments)
VisualNACert, Fitco
5
Amrita TBI(2 Investments)
Bizbee, Nextsky Technologies
6
TNB Ventures(2 Investments)
TradeGecko, Taidii
7
Y Combinator
WorkClout
8
HIGHLINE
Swept
9
TLabs
EPaathsala
10
OTHER NOTABLE INVESTORS
Elliott Management(2 Investments)
CDK Global, SAP
1
Riverwood Capital(2 Investments)
Omie, Nubox
2
Credit Suisse
Quorum Software
3
Goldman Sachs
Ramco
4
Bill and Melinda Gates Foundation
CropIn
5
Rabobank
AllSolutions
6
Canadian Imperial Bank of
Commerce
Lightspeed
7
Caisse de depot et placement du
Quebec
Lightspeed
8
Swisscom
Bexio
9
Keiretsu Forum
FlightOffice
10
DEBT INVESTORS
InnoVen Capital(3 Investments)
Deskera, Vinculum Solutions, Hotelogix
1
Silicon Valley Bank(2 Investments)
Lightspeed, Brightpearl
2
Siparex(2 Investments)
Odooapps, ONE UP
3
Lighter Capital(2 Investments)
Springboard Retail, Circle Commerce
4
Macquarie Group
Quorum Software
5
Tikehau Capital
Deskera
6
Varagon
ImagineSoftware
7
Star Mountain Capital
Exenta
8
Alteria Capital
Vinculum Solutions
9
Columbia Lake Partners
Brightpearl
10

ERP > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

ERP > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
42
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
GovTech
Jul 2019
Customer Success Management
Jul 2019
PR Tech
Jul 2019

Marketmap: ERP
44
ERP > Market Details > BlueBox

Key Sub Sectors
45
Key Sub Sectors in ERP
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Multi-Industry
Companies that develop ERP software for enterprises and SMB's across multiple sectors
SAP (1972, Walldorf, Public)
Infor (2002, New York City, Acquired)
1991 135 $5B
Manufacturing
Companies that develop ERP software for manufacturers
QAD (1979, Santa Barbara, Public)
Plex Systems (1995, Troy, Acquired)
445 40 $1.8B
Retail
Companies that develop ERP software for the retail industry
Lightspeed (2005, Montreal, Public)
Cegid (1983, New York City, Public)
341 32 $504M
Companies that develop ERP software for professional services individuals and agencies such
as architects, auditors, engineers, doctors, and lawyers
LexisNexis (1973, Albany, Acquired)
Kimble (2010, Phoenix, $1.8M)
128 21 $159M
Companies that develop ERP for wastewater management and the recycling industry
Linko (1996, Denver)
25 1 $103M
Aviation
Companies that develop operation management solution for the aviation industry
IBS Software Services (1997,
Thiruvananthapuram, $60M)
OpenJet (2014, Luxembourg, $3.4M)
29 8 $67.6M
Hospitality
Companies that develop ERP software for the hospitality industry
Hotelogix (2008, Noida, $10M)
SkyTouch Solutions (2013, Phoenix)
137 20 $58.9M
Agriculture
Companies that develop ERP software for the agricultural industry
46 13 $55.4M
Education
Companies that develop ERP software for educational institutes such as schools, colleges, and
universities
Ellucian (1968, Fairfax, Acquired)
rSmart (2002, Phoenix, $14.3M)
529 14 $18.9M
Local Businesses
Companies that develop ERP software for local businesses such as photo studios, internet
dealers, and fitness studios
Point of Rental (1983, Grand Prairie)
BEWE (2015, Madrid, $2.3M)
116 17 $15.7M
ERP > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/9)
46
ERP > Market Details > Detailed Sector Taxonomy

47

48

49

50

51

52

53

54

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Multi-Industry > Enterprise
Companies that develop ERP software for enterprises and SMB's across multiple sectors
(Companies covered 1112 | Funded 75 | Total Funding $4.3B)
$1.5B
(-$497M)
10
(+2)
Infor
(2002, New York City, Acquired)
2
(-)
Multi-Industry > SMB-Focused
Companies that develop ERP software for SMB's across multiple sectors
(Companies covered 819 | Funded 56 | Total Funding $671M)
$212M
(+$135M)
11
(-5)
freee
(2012, Tokyo, $142M)
3
(-)
Retail > Suite
Companies that develop ERP software for retailers, wholesalers, distributors, or/and restaurants
(Companies covered 170 | Funded 18 | Total Funding $397M)
$177M
(+$97.2M)
5
(-2)
Lightspeed
(2005, Montreal, Public)
4
(-)
Retail > E-commerce
Companies that develop ERP software for e-commerce or online retailers
(Companies covered 28 | Funded 5 | Total Funding $71.1M)
$27.4M
(+$9.4M)
5
(-1)
Brightpearl
(2007, Bristol, $50.5M)
5
(+4)
Manufacturing > Discrete > Horizontal
Companies that develop ERP software for discrete manufacturers to manage daily operations
(Companies covered 160 | Funded 19 | Total Funding $1.7B)
$1.4B
(+$1.4B)
3
(+1)
The Access Group
(1991, London, Acquired)
6
(+2)
Agriculture > Farm Management > Cannabis
Companies that develop ERP solutions for cannabis farms
$10.5M
(-$8.9M)
5
(+3)
MJ Freeway
(2010, Denver, $29.5M)
7
(-)
Hospitality > Hotels
Companies that develop ERP software for hotels and lodges
$12M
(+$8.7M)
3
(-4)
Mews Systems
(2012, Prague, $8.6M)
55
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in ERP in last 2 years (August 2017 - July 2019)
ERP > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
ERP > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Hospitality > Restaurants
Companies that develop ERP software for restaurants and caterers
(Companies created 57 | Funded 12 | Total Funding $34M )
1 Restaurant365 (2011, Irvine, $20M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
57
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (August 2017 - July 2019)
ERP > Market Details > Top Markets of Early Stage Investors

Incubators Amrita TBI (#2), IIDF (#1)
Seed Globis Capital Partners (#2), SEAF (#1)
Series A/B Salesforce (#1), Greylock Partners (#1)
Series C+ Battery Ventures (#1), Accel-KKR (#1)
Sanderson Dec - 2004
IPO'd on LON
abas ERP Jun - 2019
Acq by Forterro
OPTIWARE May - 2019
Acq by Aptean
Ekon Mar - 2019
Acq by Oakley Capital
Aptean Feb - 2019
Acq by TA Associates Management for
$1B
Oscar May - 2018
Acq by Panostaja
PE
$3M - Series A
graphiteConnect (2019, Lehi, $3M)
$1.5B - PE
$100k - Seed
Eyone (2015, Dakar, $100k)
PE
PE
Aug 2019
Seal Software arrives in SAP Ariba marketplace, Enterprise
Times
Aug 2019
Rimini Street Now Offering to Run Entire SAP Systems,
eWEEK
Aug 2019
Averda’s growth supported by Ramco’s Next-Generation
Workforce Technologies, PRWeb
Aug 2019 Ramco Systems net rises 66.67% on higher sales, The Hindu
Aug 2019 Juvare Expands Operations in European Market, PR Newswire
Aug 2019
Grant Thornton named Workday Advisory Services Partner,
Business Wire
Aug 2019
The prestigious London School of Economics goes live with
TechnologyOne Financials as part of its transformation
programme, Financial IT
Aug 2019
Elemica Enables Zero Disruption to Supply Chain on SAP
Upgrades, C Velocity
Aug 2019
Infor, GTY to Offer BI, Analytics, Grants Mgmt Tech to State &
Local Agencies; Bill Sullivan Quoted, GovCon Wire
Aug 2019
Software giant SAP launches the first SAP.iO Tokyo cohort to
accelerate B2B Japanese tech startups, TechStartups.com
Aug 2019
ShipLink Global Partnership with ERP Solution Provider,
SYSPRO, Fleet News Daily
Aug 2019 ARB shares fall despite posting record profits, The Star Online
Aug 2019
Dilipkumar Khandelwal quits as MD of SAP Labs India,
Indiatimes
Aug 2019 Aptean to acquire Sanderson, Direct Commerce
News
54
15
22
75
1112
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Multi-Industry > Enterprise: Market Factsheet
58
Exits
Recent InvestmentsCompanies that develop ERP
software for enterprises and
SMB's across multiple sectors
SAP
(1972, Walldorf)
Infor
(2002, New York City, $3.5B)
Epicor
(1972, Austin, $20M)
Workday
(2005, Pleasanton, $352M)
Ramco
(1997, Chennai)
Top Companies
#1 Top Markets of Investment Activity
ERP > Market Details > Market: Enterprise
Companies Created 1112 | Funded 75 | Total Funding $4.3B
0
5
10
$0k
$1.B
$2.B
$3.B
2015 2016 2017 2018 2019
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Enterprise

Multi-Industry > Enterprise: Top Companies
Market: Enterprise (1/4)
Analyst’s Pick
LC Waikiki, Koch Equity Development, Golden Gate
T. Rowe Price, Morgan Stanley, Bezos Expeditions
FinancialForce (2009, San Francisco, $194M)
Cloud ERP solutions provider
TCV, Salesforce, Advent International and 2 Other
Investors
Deltek (1983, Herndon, $107M)
organizations
Prospect Street Ventures, Quilvest Private Equity,
New Mountain Capital, WP Global Partners
Analyst’s Pick
Ironside Technologies (1996, Pleasanton,
$55.2M)
ERP software for enterprises
Cypress Capital Management, Delaney Capital,
Goodman & Company and 7 Other Investors
Lawson Software (1975, Paul, $40M)
TA Associates Management, SEO Service Agent,
Split Rock Partners
CPP Investment Board, Trident Capital, Coral
BMIA (1999, Le Bouscat, $653k)
Provider of enterprise software solutions
Editor's Pick. Stage: Seed
Galia Gestion, Aquiti Gestion
Analyst’s Pick
1C Company (1991, Moscow)
Business management and education &
entertainment software developer
Baring Vostok
24SevenOfficeSupport (1997, Oslo)
Project management solution
Editor's Pick. Stage: Funded
Aboard Software (1974, Gainesville)
Developer of ERP, MRP, and business software
Editor's Pick. Stage: Unfunded
AFAS Software (1996, Leusden)
Cloud based business management applications
AgileMS (2017, New York City)
ERP software for SaaS companies
Agilyx North America (2018, Cincinnati)
Cloud-based ERP for management of enterprises

Analyst’s Pick
Battery Ventures, Vista Equity Partners
Assura Software (1995, Christchurch)
Cloud-based health and safety management and
compliance software
B-Org ERP (Cluj-napoca)
ERP software for import, trading, and distribution
business
Calipso (1993, Buenos Aires)
ERP software developer in South America
Canias ERP (1989, Karlsruhe)
Multi-lingual, platform-independent ERP solution
CloudMe Software Solution (2013, Dubai)
ERP software with POS system
Analyst’s Pick
CloudyBoss (2015, Sydney)
Cloud-based enterprise management platform
Conveyorware (1974, Rochester Hills)
Cloud-based business management software for
various enterprises
DataON (1998, Tangerang)
ERP, HR, and accounting technology solutions
provider
DinERP (2008, Trondheim)
Multi-industry ERP software
Editor's Pick. Stage: Series A
Viking Venture
EAS integrator (2009, San Diego)
Enterprise governance solution
Epicor Viet Nam (2018, Ho Chi Minh City)
ERP software for business managment
Analyst’s Pick
Factumsoft (2017, Yerevan)
ERP software for multiple industries
Firmao (2018, Watford)
ERP and CRM software for businesses
Gestplus Business One (Cordoba)
ERP software for business management
Gomembers (1996, Chicago)
Association management software
Gemini Investors
Grupo i68 (1985, San Sebastian)
Integrated business management application for
manufacturers
Hire2Work (2006, Tirunelveli)

Analyst’s Pick
idataFive (2012, Singapore)
Illustris Solution (2006, Bangalore)
Web-based business management solutions
provider
INCWO (2007, Paris)
Cloud based ERP, CRM and invoicing solution for
small and medium businesses
Innervex Technologies (2011, Coimbatore)
Business management software for various
industries
Intact Software (1992, Dundalk)
ERP solution for businesses
Analyst’s Pick
Lemonsoft (2006, Vaasa)
ERP software for multiple industry
Rite Ventures
Microtech Software solutions (1986, Giza)
Cloud based ERP solution for SMBs and enterprises
MIE Solutions (2011, Redditch)
ERP software for multi-industry
Monolit-Info (1991, St. Petersburg)
ERP, HRM, and CRM software vendor in Russia
NOUT (2006, Castelnau-le-lez)
CRM and ERP software for various enterprises
IRDI Soridec Gestion
OPTIWARE (1999, Glostrup)
ERP solutions provider for multiple industries
Capidea
Analyst’s Pick
Oscar (2005, Tampere)
Business management applications for enterprises
Osource (2004, Mumbai)
ERP and BPO solutions for finance, accounting, HR
and IT solutions
Polo Suite (2017, Bergamo)
Business management software
Priority Software (1986, Tel Aviv)
Business management and ERP software
Ramco (1997, Chennai)
AI-enabled SaaS-based software solutions for
aviation, logistics and HR sectors
HDFC Mutual Fund, Axis Mutual Fund, JOHCM,
Goldman Sachs

Analyst’s Pick
Herald Investment Management
Elliott Management, Quest for Growth, Herald
Investment Management, Momenta Partners
Saviom Software (1999, Sydney)
Enterprise resource planning and workforce
management
SoftOne (2002, Athens)
Cloud-based ERP software for multiple industries
Softwin Solutions (1998, Pune)
ERP software for small and medium-sized
companies
Analyst’s Pick
SunSmart Global (2004, Milpitas)
ERP software for various industries
Syspro (1978, Costa Mesa)
ERP software for .Net
Tally Solutions (1986, Bangalore)
Provider of business management software
products
Bhakti Modi, Manoj Modi
The BlueBox (2010, Wells)
Cloud-based business management solution
Venture Partners do Brasil
UFIDA Thailand (1988, Bangkok)
Analyst’s Pick
Works Applications (1996, Tokyo)
AI-based ERP software for various industries
Aca Investments, Globis Capital Partners
Zeta Softwares (1997, Croydon)
Enterprise software solutions provider

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
63
Multi-Industry > Enterprise: Leaderboard
Better than Market Average
Market: Enterprise
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Workday 2005 Pleasanton Public $352M 7 - 4 - - 43.9k 3.1M 26.8k 117 8.8k 49% 2.3k 5%
4.4 SAP 1972 Walldorf Public - - 5 4 - - 261k 1.4M 4.8k 1022 823 21% 9.2k 4%
4.4 Epicor 1972 Austin Acquired $20M 3 - 4 - - 8.9k 25k 68 149 9 15% 215 2%
4.1 Infor 2002
New York
City
Acquired $3.5B 8 4 3 3 4 18.5k 41k 237 480 36 18% 582 3%
3.9 Deltek 1983 Herndon Acquired $107M 6 - 2 4 4 6.1k 648k 957 61 65 7% 188 3%
3.8 Ramco 1997 Chennai Acquired - 1 4 4 4 4 4.6k 305k 726 105 191 36% 121 3%
3.7
FinancialFor
ce
2009
San
Francisco
Series D $194M 5 - 2 - - 14.1k 4k 23 47 13 130% 22 -
3.7
TechnologyO
ne
1987 Valley Public - 1 - - - - 1.6k - - 43 - - 77 5%
3.5 TOTVS 1983 Sao Paulo Public - - - 4 - - 20.5k 134k 518 18 156 43% 74 -
3.4
Tally
Solutions
1986 Bangalore Funded - - - 4 4 4 9.6k 41k 210 46 40 24% 254 3%
3.2 Comarch 1993 Krakow Public - - - 4 4 4 1.2k 45k 466 32 8 2% 64 6%
3.2 KerridgeCS 1977 Hungerford Acquired - 2 - - - - 1.2k - - 11 - - 43 4%
2.9
Priority
Software
1986 Tel Aviv Funded - - - 4 - 4 327 7k 45 13 5 13% 22 7%
2.8 1C Company 1991 Moscow Seed - 1 - 4 3 4 - 13.9M 45.7k 3 6.5k 16% - -
2.8 Sanderson 1983 Coventry Acquired - - 5 - - - 593 - - 24 - - 11 2%

Incubators Venture Catalysts (#1), 500 Startups (#1)
Seed DCM Ventures (#1), Ascent Venture Partners (#1)
Series A/B Swisscom (#2), Riverwood Capital (#1)
Series C+ Accel-KKR (#1), Ardian (#1)
Sage Group Jun - 2013
IPO'd on LON
Acumatica Jun - 2019
Acq by EQT Ventures
MYOB May - 2015
IPO'd on ASX
Exact Feb - 2019
Acq by KKR
Digital Ware Feb - 2019
Acq by H.I.G. Capital
RentalTrax Dec - 2018
Acq by Point of Rental
Visma Oct - 2018
Acq by STG Partners
$40M - Series A
$20M - Series B
Seed
Easyfis (2013, Antipolo)
$60M - Series A
$6.1M - Series A
$60M - Series E
Aug 2019
Skynamo Joins Acumatica in Protecting Customers’ Data,
PRWeb
Aug 2019 MYOB boss Tim Reed departs, Reseller
Aug 2019
Net at Work Partners with Acumatica to Provide a Complete
Portfolio of Cloud-based ERP Solutions, PR Newswire
Aug 2019 KKR’s $2 Billion Acquisition of MYOB, Global Legal Chronicle
Aug 2019 Galgorm takes Sage advice, Enterprise Times
Jul 2019
Sage tops blue-chip loserboard as legacy product sales fall
faster-than-expected, Proactive Investors
Jul 2019 Sage buys Boulder hotel for $16.9 million, BizWest
Jul 2019
[Updates] Deskera partners South Korean ICT company
NAVER for cloud service adoption, E27
Jul 2019
MYOB sends 220 pay summaries to wrong person, denies
AWS to blame Featured, iTWire
Jul 2019
Deskera Appoints Neha Chimbulkar as Deputy Director,
Marketing Communications, AdAge India
Jul 2019
Sage invests £40m in new hub for North East colleagues and
future economy, Bdaily
Jul 2019 Tech Giant On The Move In Newcastle, Insider Media
Jun 2019
Acumatica acquired by global private equity firm in bid to
take on Oracle, Microsoft and other business software giants,
GeekWire
Jun 2019
FlowLens hires new Head of Sales for its cloud MRP
platform, Sync NI
Jun 2019
VAI and Infocon Systems Partner to Offer a Cloud-Based EDI
Platform for Efficient Transaction Processing, Business Wire
News
22
11
24
56
819
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Multi-Industry > SMB-Focused: Market Factsheet
64
Exits
software for SMB's across multiple
sectors
Sage Group
(1997, Newcastle Upon Tyne)
NetSuite
(1998, Redwood Shores, $220M)
MYOB
(1991, Glen Waverley)
Acumatica
(2007, Kirkland, $55M)
Visma
(1996, Oslo)
Top Companies
ERP > Market Details > Market: SMB-Focused
Companies Created 819 | Funded 56 | Total Funding $671M
0
5
10
$0k
$100M
$200M
2015 2016 2017 2018 2019
Market: SMB-Focused

Multi-Industry > SMB-Focused: Top Companies
Market: SMB-Focused (1/3)
Analyst’s Pick
NetSuite (1998, Redwood Shores, $220M)
StarVest Partners, ADP, Meritech Capital Partners,
Cross Atlantic Capital Partners
businesses
Soonicorn. Stage: Series E
Line, Mitsubishi UFJ Financial Group, SBI
Investment and 6 Other Investors
market enterprises
Soonicorn. Stage: Series A
Jungle Ventures, Cisco Investments, SIG and 6 Other
Investors
Analyst’s Pick
Acumatica (2007, Kirkland, $55M)
Cloud and on-premise ERP, CRM and Financial
Software for SMEs
Accel-KKR, Myob, Runa Capital and 3 Other
Investors
Minicorn. Stage: Series B
Riverwood Capital, Astella Investimentos, Verus
Group
Bexio (2008, Rapperswil, $12.2M)
Online business management software for SMBs
Swisscom, Redalpine, ARMADA Investment and 2
Other Investors
SolvAxis (1987, Sonceboz, $4.6M)
ERP offering for SMBs
Swisscom, Renaissance, Battery Ventures
Analyst’s Pick
Company.com (2008, Atlanta, $3.2M)
Back-office tools for SMEs
Minicorn. Stage: Series A
FTV Capital, Signatures Capital
ZipBooks (2015, Great Lakes, $2.3M)
Online accounting software for small businesses
Peak Ventures, Pelion Venture Partners, Liquid 2
Ventures
Comito (2008, $2.2M)
Business management and accounting software
provider
Editor's Pick. Stage: Series A
Fa Diese, FRCI
Fulfil.IO (2015, Walnut, $125k)
Multichannel retail, ERP and Inventory
Management for SMBs
Minicorn. Stage: Seed
Rajan Anandan, 500 Startups, Extreme Venture
Partners

Analyst’s Pick
ABRA Systems (1991, Prague)
ERP system for large and medium sized businesses
Minicorn. Stage: Unfunded
Apptivo (2009, Chennai)
Minicorn. Stage: Unfunded
Bokio (2016, Gothenburg)
Accounting software for small businesses
ClickBalance (2006, Culiacan)
Cloud-based ERP software
Clip Industrie (1987, Eguilles)
ERP software for industrial SMEs
Ardian, Battery Ventures
GDI software (1979, Landau)
Business management application for small and
medium businesses
Analyst’s Pick
godesys (1992, Mainz)
businesses
Helix Software (2001, Mandaluyong)
Accounting and ERP management software
Interfy (2017, Orlando)
Digital transformation platform
Invenzo Labs (2015, Bangalore)
Cloud-based business management solutions
provider
Maer Software (1985, Buenos Aires)
enterprises
Analyst’s Pick
MasterStream (2000, Corona)
ERP solutions for the telecom industry
Medatech (1993, Chandlers Ford)
ERP software for small business
MicroTelecom (2005, Uniondale)
ERP software for retail and telecommunication
industry
Bain Capital Private Equity, Archer Capital, KKR and
2 Other Investors
NeuralSoft (1989, Rosario)
ERP solutions for businesses across Argentina
Nubox (2001, Santiago)
Cloud-based accounting solution provider
Riverwood Capital

Analyst’s Pick
ProConcept (1987, Sonceboz)
Battery Ventures
Proginov (1996, La Chevroliere)
Cloud-based multiple industry ERP software
PROSEZ (2011, Frankfurt Am Main)
ERP software for multiple businesses
RentalTrax (2008, Boynton Beach)
Cloud-based rental inventory management system
Accounting, HR and ERP solutions for SMEs
Insight Venture Partners, ABS Ventures
SMACC (2006, Riyadh)
Accounting software for small and medium-sized
enterprises
Analyst’s Pick
Step Ahead (1999, Germering)
CRM and ERP software for SMEs
Texture Software Technology (2015,
Chittagong)
enterprises (SMEs)
Upayogee software (2017, Pune)
businesses
Visma (1996, Oslo)
Cloud-based business and admin solutions
AlpInvest Partners, SVG Capital

68
Multi-Industry > SMB-Focused: Leaderboard
Market: SMB-Focused
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Sage Group 1997
Newcastle
Upon Tyne
Acquired - 3 - 3 - 4 16.1k 124k 599 150 71 13% 320 2%
4.4 Deskera 2008 Singapore Series A $120M 3 5 4 - - 416 12k 64 13 12 23% 34 9%
4.4 MYOB 1991
Glen
Waverley
Acquired - 2 - 3 - - 20.7k 45k 309 58 19 7% 601 3%
4.0 Acumatica 2007 Kirkland Acquired $55M 5 - 4 - - 32k 8k 51 51 8 19% -537 -2%
3.9 freee 2012 Tokyo Series E $142M 7 - 4 - - 8.8k 308k 757 2 2 - - -
3.8 Bexio 2008 Rapperswil Acquired $12.2M 2 - 4 - - 2.3k 4k 24 1 8 50% 40 2%
3.7 Visma 1996 Oslo Acquired - - - 2 - 5 2.6k 994k 9.9k 17 3 - 100 4%
3.5 Vivonet 1999 Burnaby Acquired $17.4M 3 - 3 - - 1.7k 24k 163 9 10 7% -41 -2%
3.5 NetSuite 1998
Redwood
Shores
Acquired $220M 8 - 3 2 3 498k 75k 264 125 19 8% -5614 -1%
3.5
Company.co
m
2008 Atlanta Series A $3.2M 2 - 4 3 4 1.1k 30k 39 5 34 680% -9 -1%
3.0 Exact 1984 Delft Acquired - - - 3 - - - 58k 249 5 13 6% - -
3.0 Verivo 1998 Waltham Series E $22.9M 4 - - - - 1.6k - - 6 - - -18 -1%
2.9 Omie 2013 Sao Paulo Series B $27M 3 - - - - 104 - - 2 - - - -
2.8 Fulfil.IO 2015 Walnut Seed $125k 2 - - - - 352 - - 3 - - 13 4%
2.8 YemenSoft 1993 Sanaa Unfunded - - - 4 - 4 4.3k 91k 565 - 55 11% 25 1%

Incubators TNB Ventures (#1)
Seed Point Nine Capital (#1), Jungle Ventures (#1)
Series A/B Accel (#2), Inovia Capital (#1)
Series C+
Silicon Valley Bank (#1), Caisse de depot et placement du
Quebec (#1)
Windward Software Jul - 2019
Acq by Volaris Group
Lightspeed Mar - 2019
IPO'd on TSX
EDP Apr - 1987
IPO'd on LON
Solmicro Dec - 2016
Acq by zucchetti.com
Integrity Software Nov - 2016
Acq by Kerridge Commercial Systems
Easy POS Mar - 2016
Acq by Zopper for $5M
$100k - Seed
Evosus (2001, Vancouver, $100k)
Series D
$10M - Series B
$876k - Series B
Vinculum Solutions (2007, Noida,
$12.7M)
$166M - Series D
$1.9M - Series B
Vinculum Solutions (2007, Noida,
$12.7M)
Aug 2019
Lightspeed Reports 38 Percent Revenue Growth In Q1 2019,
BetaKit
Aug 2019 Cegid acquires Meta4, Enterprise Times
Jul 2019
Lightspeed Files Preliminary Base Shelf Prospectus, PR
Newswire
Jul 2019
Celerant Technology® Partners with Educators Resource™
Offering Retail Solutions with an ‘Endless Aisle’, PRWeb
Jul 2019 Jim Texier to Join Lightspeed as Chief Product Officer, CNW
Jul 2019
KIE Supply Chooses Inform ERP Software to Power Business
Operations for Future Growth, PHCP Pros
Jul 2019
Fulfilmentcrowd signs German deal to capitalise on
European eCommerce, Prolific North
Jul 2019 eCommerce software firm relocates, Insider Media
Jun 2019
PoS and ERP solutions provider Ginesys raises $10 million
from Marathon Edge, TheNewsMinute
Jun 2019
GOFRUGAL Launches GoSecure, a Real Time Back-up as a
Service (BaaS) for Traders, DIGITAL TERMINAL
Jun 2019
Lightspeed bags additional $311m for third late-stage fund,
Deal Street Asia
May 2019
33 Omni Tech stores go live on First Software's N2 ERP,
Reseller
May 2019
New Vend partnership expands capabilities to cloud,
ChannelLife
Apr 2019
Payworks extends partnership with Lightspeed providing
integrated payments to merchants across Belgium, Fintech
Finance
News
18
3
7
18
170
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Retail > Suite: Market Factsheet
69
Exits
software for retailers,
wholesalers, distributors, or/and
restaurants
Lightspeed
(2005, Montreal, $292M)
Cegid
(1983, New York City, $900k)
TradeGecko
(2012, Singapore, $20M)
Vend
(2010, San Francisco, $45.9M)
EDP
(1965, Sheffield)
Top Companies
ERP > Market Details > Market: Suite
0
5
10
$0k
$100M
$200M
2015 2016 2017 2018 2019
Market: Suite

Retail > Suite: Top Companies
Market: Suite
Analyst’s Pick
Canadian Imperial Bank of Commerce, Caisse de
depot et placement du Quebec, Invest Quebec and 6
Other Investors
Qualgro GP, Movac, Square Peg Capital and 16
Other Investors
Cloud-based sales and inventory management
platform for e-tailers
Perle Ventures, 33 Capital, TNB Ventures and 8
Other Investors
Analyst’s Pick
Openbravo (2006, Pamplona, $18.1M)
Web-based open source ERP and PoS solutions for
SMEs
Amadeus Capital, Adara Ventures, Gimv and 2
Other Investors
Vinculum Solutions (2007, Noida, $12.7M)
Cloud-based end-to-end logistics and supply chain
solutions provider
Alteria Capital, IvyCap Ventures, Accel and 2 Other
Investors
Cegid (1983, New York City, $900k)
Cloud-based software to allow merchants carry out
omni-commerce
CM-CIC Private Debt, Silver Lake, AltaOne Capital
Advicom (1991, Providencia)
ERP software for retail management
Analyst’s Pick
AN Systems (1991, Roznov Pod Radhostem)
ERP software for retail industry
CAM Commerce Solutions (1983, Fountain
Valley)
Suite solutions for retailers
EDP (1965, Sheffield)
ERP software solutions for merchants &
distributors
ETRON (Munich)
End-to-end retail solutions provider
Kerridge Commercial Systems (2000,
Sliedrecht)
Integrated ERP solutions for wholesalers and
retailers
StorIQ (2014, London)
Retail operation management software to improve
in-store execution

71
Retail > Suite: Leaderboard
Market: Suite
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Lightspeed 2005 Montreal Public $292M 5 - 4 3 3 17.7k 8k 27 67 7 35% 552 3%
4.9 Openbravo 2006 Pamplona Series B $18.1M 2 - - - - 3.3k - - 8 - - 13 -
4.6 TradeGecko 2012 Singapore Series B $20M 3 3 - - 4 2.5k - - 12 - - 59 2%
4.5
Vinculum
Solutions
2007 Noida Series B $12.7M 5 5 - - - - - - 4 - - - -
4.3 Vend 2010
San
Francisco
Series D $45.9M 8 - - 3 3 23.8k - - 12 - - -26 -
4.2 Cegid 1983
New York
City
Public $900k 3 - 4 1 4 902 3k 10 26 - - 17 2%
3.7
Retail Pro
International
1986 Folsom Acquired - 1 - - - - 3.6k - - 6 - - 23 1%
3.1 Evosus 2001 Vancouver Seed $100k 2 - 3 - - 263 4k 16 - 4 33% 2 1%
2.9
Junction
Solutions
2001 Englewood Acquired $7.5M 1 - - - - - - - 6 - - - -
2.9 Franpos 2011
San
Francisco
Funded - - - 2 4 4 145 300 4 - 3 300% 121 504%
2.7 StoreFeeder 2010 Nottingham Acquired - - - - - 4 384 - - 1 - - 21 6%
2.6 EDP 1965 Sheffield Acquired - - - - - - - - - 10 - - - -
2.5
Dear
Systems
2012 Toronto Unfunded - - - 2 - - 728 5k 2 - 4
-
200%
90 14%

ERP > Market Details > Market: E-commerce
Companies Created 28 | Funded 5 | Total Funding $71.1M
Market: E-commerce

Market: E-commerce

ERP > Market Details > Market: Horizontal
Companies Created 160 | Funded 19 | Total Funding $1.7B
Market: Horizontal

Market: Horizontal

ERP > Market Details > Market: Cannabis
Market: Cannabis

Market: Cannabis

ERP > Market Details > Market: Hotels
Market: Hotels

Market: Hotels

Market: Suite

ERP > Market Details > Market: Professional Services
Market: Professional Services

ERP > Market Details > Market: Restaurants
Market: Restaurants

Market: Restaurants

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
93
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/4)
95
List of Public Companies in ERP
IPO Date Company
IPO
Mcap
Exchange
Ticker
Mar 2019
Lightspeed (2005, Montreal)
Cloud-based retail management software for omnichannel retailers
$191M TSX:LSPD
Jun 2017
B Break Systems (2002, Tokyo)
TYO:3986
Jul 2013
Just planning (1994, Tokyo)
Business management application for restaurant industry
TYO:4287
Oct 2012
Workday (2005, Pleasanton)
$4.5B NYSE:WDAY
Mar 2006
BVMF:TOTS3
Aug 2005
24SevenOffice (1997, Oslo)
SaaS based ERP for SMBs
24SO
Jan 2005
Ares International (1980, Taipei)
Provider of consultancy and advisory services
TPE:2471
Aug 1999
TechnologyOne (1987, Valley)
Largest software solution provider in Australia
$64.2M ASX:TNE
Aug 1998
NYSE:SAP
Aug 1997
QAD (1979, Santa Barbara)
Enterprise Manufacturing Software
$424M NASDAQ:QADI
ERP > Exit Outlook > Public Companies

96
IPO Date Company
IPO
Mcap
Exchange
Ticker
May 1990
Tyler Tech (1966, Plano)
End-to-end information systems for local governments
NYSE:TYL
Mar 1983
American Software (1970, Atlanta)
Supply Chain management and ERP Solutions
NASDAQ:AMSW
A
Springform Technologies (1979, Mumbai)
ERP solution for enterprises
BOM:501479
Shjysoft (2012, Shanghai)
ERP software and tech platform for construction industry
Regentsoft (1995, Guangzhou)
ERP for eCommerce retailers and garment manufacturers
Aviv Advanced Solutions Software (1989, Netanya)
ERP solutions for various businesses and organizations
Entersoft (2002, Athens)
Integrated business software
Yonyou (1988, Beijing)
Enterprise management software
Synergy Resources (1992, Central Islip)
ERP for manufacturing with LEAN scheduling
Simple (1988, Warsaw)
ERP software to support production companies
WSE:SME

97
IPO Date Company
IPO
Mcap
Exchange
Ticker
Logo Yazılım (1984, Gebze)
Largest ERP provider for SMEs in Turkey
IST:LOGO
Link Computer (1984, Istanbul)
IST:LINK
ILYDA (1992, Athens)
ERP & software for specialized vertical markets
ATHEX:ILYDA
Digiwin (1982, Shanghai)
ERP software for enterprises and SMBs.
Comarch (1993, Krakow)
Software solutions for IT enterprises
Cegid (1983, New York City)
Cloud-based software to allow merchants carry out omni-commerce
Axiomsys Technology (1996, Dubai)
Cloud-based ERP solution
Asseco Business Solutions (2007, Lublin)
ERP software solution for business process management
WSE:ABS
Altec (1986, Athens)
Business management application for medium sized enterprises
ATHEX:ALTEC
ITSA (2016, Rio Claro)

98
IPO Date Company
IPO
Mcap
Exchange
Ticker
Ide (2008, Houston)
ERP software for the apparel industry

Notable Acquisitions (1/4)
99
Notable Acquisitions in ERP
ERP > Exit Outlook > Notable Acquisitions
Acq. Date Company Acquirer Deal Size
Aug 2019
Aptean $110M
Jun 2019
Acumatica (2007, Kirkland)
Cloud and on-premise ERP, CRM and Financial Software for
SMEs
EQT Ventures
Apr 2019
KKR $1.1B
Feb 2019
TA Associates Management $1B
Feb 2019
Exact (1984, Delft)
ERP and accounting software provider for SMBs
KKR
Feb 2019
ConnectWise (1982, Tampa)
Thoma Bravo $1.5B
Dec 2018
IQMS (1989, Paso Robles)
ERP software developer for manufacturing industry
Dassault Systems $425M
Oct 2018
AFS Technologies (1985, Phoenix)
Cloud-based backend management solutions for the CPG
industry
STG Partners
Feb 2018
Thomas H Lee Partners $460M

100
Jan 2018
Acceo (1988, Montreal)
Management & accounting software development firm
Harris Computer $201M
Jan 2018
Kenandy (2010, Redwood City)
Cloud ERP application provider for product planning and
manufacturing
Rootstock
Nov 2017
Cylande (1986, Roubaix)
ERP solutions for retail industry
Cegid
Nov 2017
Eque2 (2013, Manchester)
Accounting, estimating and ERP for the construction
industry
LDC $18.6M
Dec 2016
Deltek (1983, Herndon)
organizations
Roper Technologies $3B
Jul 2016
NetSuite (1998, Redwood Shores)
Oracle $9.3B
Jul 2016
Epicor (1972, Austin)
KKR $3.3B
Dec 2015
TeamSystem (1979, Pesaro)
ERP software for micro and small businesses
Hellman & Friedman $1.3B
Nov 2015
Industrial and Financial Systems (IFS) (1983,
Linkoping)
ERP solutions for manufacturing
EQT Ventures $1B

101
Oct 2015
Wincor Nixdorf (1952, Paderborn)
Software solutions for retail and banking industry
Diebold $1.9B
Jan 2015
The Access Group (1991, London)
ERP solutions for manufacturing industry
TA Associates Management
Nov 2014
Public safety software suite
Insight Venture Partners $300M
Feb 2014
Unit4 (1980, Sliedrecht)
ERP solutions for people- or service-based organizations
Advent International $1.6B
Sep 2012
Solarsoft (1986, Richmond Hill)
ERP for discrete manufacturing and distribution and
wholesale management
Epicor $155M
Aug 2012
Consona Corporation (1997, Indianapolis)
Enterprise applications provider
CDC Software
Jun 2012
Plex Systems (1995, Troy)
Saas based cloud ERP solutions for manufacturing industry
Francisco Partners
Apr 2011
Lawson Software (1975, Paul)
Infor $2B
Jul 2009
QuickArrow (1998, Austin)
Professional services automation softwar
NetSuite $20M
Dec 2007
NSB Group (1995, Reading)
Software and services for the speciality retail market
Epicor $322M

102
Aug 2006
Divalto (1982, Entzheim)
French based ERP software provider
May 2006
SSA Global Technologies (1981, Chicago)
Manufacturing ERP software vendor.
Infor $1.4B
Mar 2006
Geac Computer Corporation (1971, Toronto)
Infor Enterprise Software Solutions for CRM, ERP, SCM,
EAM & More
Golden Gate Capital $1B
Jan 2005
Mapics (1977, Alpharetta)
ERP software for manufacturers
Infor $375M
Apr 2004
Changepoint (1994, Richmond Hill)
PSA and PPM solutions
Compuware $100M
Feb 2004
Infor (2002, New York City)
Agilisys
Jul 2003
ERP Vendor
SSA Global $135M
Jun 2003
Ironside Technologies (1996, Pleasanton)
SSA Global
Jun 2003
Peoplesoft $1.7B
May 2002
Navision (1985, Vedbaek)
Integrated business software solution for SMBs
Microsoft $1.3B

Most Active Acquirers
103
ERP > Exit Outlook > Most Active Acquirers

Acqui-hires
104
List of Acqui-hires in ERP
Excludes all details for Chinese companies
Date Target
WeavedIn Acq by Paytm.com
ERP > Exit Outlook > Acqui-hires
View all 1 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
105
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

ERP > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in ERP; Last 5 years (Aug 2014 - Jul 2019)
Index of Most Active VC & PE Investors
SEED STAGE
Earlybird Venture Capital
XAnge
Inovia Capital
Altos Ventures Capital
Entree Capital
Almi
Rothenberg Ventures
Rite Ventures
Blackbird Ventures
Pelion Venture Partners
Peak Ventures
Credo Ventures
Redalpine
East Valley
SGH Capital
EARLY STAGE
TCV
Cisco Investments
Vertex Ventures
Inovia Capital
Chiratae Ventures
A Plus Finance
Okapi Venture Capital
Accel-KKR
DBJ Capital
Grotech Ventures
Main Street Capital
Saama Capital
Origin Ventures
Tao Capital Partners
LATE STAGE
Accel-KKR (3 Investments)
Elvaston Capital Management (2 Investments)
Battery Ventures
CPP Investment Board
Insight Venture Partners
TCV
Silver Lake
JMI Management
GI Partners
SBI Investment
Cresco Capital Partners
Movac
Aca Investments
Carousel Capital
Koch Equity Development

Inovia Capital
108
Portfolio in ERP | Exits | Funds Link | Website | LinkedIn | Twitter
ERP > Investors > Inovia Capital
Investments
[Unicorn] Sonder (2012, San Francisco, $400M, Series D)
Online marketplace for booking of managed properties
[Unicorn] AppDirect (2009, San Francisco, $246M, Series E)
White-labeled marketplace for selling cloud-based applications
[Soonicorn] Clearbanc (2015, Toronto, $170M, Series B)
Merchant cash advance provider
[Soonicorn] Peraso (2009, Toronto, $89M, Series D)
Multi gigabit millimeter wave single chip transceivers
[Soonicorn] Boosted (2011, Valley, $75.8M, Series B)
Lightweight, wireless, remote-controlled motorized electric
longboards
[Soonicorn] Vidyard (2011, Kitchener, $60.8M, Series C)
Video marketing and analytics company
[Soonicorn] TrackTik (2013, Montreal, $54.5M, Series A)
Workforce management software for the security agencies
[Soonicorn] Rubikloud (2013, Toronto, $45.1M, Series B)
Cloud-based business intelligence platform for omnichannel retailers
[Soonicorn] Lenddo (2011, New York City, $14M, Series B)
Alternative credit scoring solution
[Minicorn] Top Hat (2009, Toronto, $58M, Series C)
Educational app developer
[Minicorn] AlayaCare (2014, Toronto, $55.2M, Series C)
Provider of cloud based platform for home healthcare practitioners
[Minicorn] Bench (2012, Vancouver, $48.1M, Series B)
Outsourced bookkeeping services for SMBs.
Other Notable Portfolio
Top Exits Recent News on Fund & Portfolio
Geographical Spread Stage of Entry
Aug 2019
Lightspeed Reports 38 Percent Revenue Growth In Q1
2019, BetaKit
Jul 2019
Lightspeed Files Preliminary Base Shelf Prospectus, PR
Newswire
Jul 2019
Jim Texier to Join Lightspeed as Chief Product Officer,
CNW
Jul 2019
Lightspeed POS Inc. Announces the Acquisition of
iKentoo, PR Newswire
Jul 2019
Lightspeed Retail Adds New Features to Its Best-in-Class
Inventory Management Software, CNW
Jun 2019
Lightspeed Named Cix 2019 Innovator Of The Year,
BetaKit
Jun 2019
Lightspeed bags additional $311m for third late-stage
fund, Deal Street Asia
May 2019
Lightspeed POS Inc. Announces the Acquisition of
Chronogolf, PR Newswire
May 2019
Lightspeed Announces Fiscal Fourth Quarter and Full
Fiscal Year 2019 Financial Results, Provides Financial
Outlook, PR Newswire
Lightspeed
(2005, Montreal, $292M)
IPO - Mar 2019
1 11
1
2014 2015 2016 2017 2018 2019
Follow On New Investments
-
-
1
-
1
Undisclosed
Series C+
Series B
Series A
Seed2
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Canada

Almi
109
Portfolio in ERP | Exits | Funds Link | Website | LinkedIn | Twitter
ERP > Investors > Almi
Investments
Top Exits Recent News on Fund & Portfolio
Geographical Spread Stage of Entry
Apr 2018
Vitec Software Group AB: Vitec acquires the software
company PP7 Affärssystem, GlobeNewswire
PP7 Affärssystem
(1990, Nora)
Acq by Vitec - Apr 2018
1
2014 2015 2016 2017 2018 2019
Follow On New Investments
1
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed2
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Europe

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