Akibia Secures $8 Mil In Private Equity FundingAkibia, Westborough, MA, yesterday said that it secured $8 million in new private equity funding. According to the CRM and IT support provider, this is the first time it has sought private funding in its ten-year history.
The company said this first round of funding includes venture capital led by Harborvest Partners and Ascent Venture Partners, with Commonwealth Capital and Citizen's Capital also taking part.
"This vote of confidence by top caliber private equity firms is very exciting," said Thomas Willson, CEO of Akibia. "We plan to use the new funds as working capital to support our continued growth, including hiring, training and opening new offices."
According to Akibia, it has seen growth of over 60 percent during the last two quarters, and it is currently in the midst of an aggressive corporate expansion and recruitment campaign.