Acquia raises $50 million to continue rapid growth pace

Acquia chief executive Tom Erickson (in the foreground)
Acquia chief executive Tom Erickson (in the foreground)

One of the Boston area’s fastest growing software companies just collected a heap of cash to continue fueling its rapid expansion.

Burlington-based Acquia closed a $50 million round of financing Tuesday in one of the biggest venture deals of the year for a local tech company (see gallery below).

The round for Acquia was led by New Enterprise Associates and also included Split Rock Partners, North Bridge Venture Partners, and Sigma Partners.

At its core, Acquia is an open source software company. Its cofounder, Dries Buytaert, invented the free software platform Drupal. Today, however, the company is working with some of the biggest brands in the world such as Mercedes-Benz and Intel Corp. that are paying it to create digital products based built on the Drupal platform.

 “With this new funding, we’re helping our customers maximize their business impact with our open cloud platform for integrated digital experiences,” said Tom Erickson, Acquia chief executive officer, in a news release.

Acquia earned about $70 million in revenue last year and is widely considered to be one of the many local software companies eyeing an initial public stock offering.

Including this latest round of funding, the company has raised a total of $118.6 million.

Read more: Acquia’s Dries Buytaert: It’s open-source software that’ll eat the world

Mike Farrell is a technology reporter for the Boston Globe. Email him at
Follow Michael on Twitter