Avanade extends successful relationship with Akumina through strategic minority investment
SEATTLE, WA. and NASHUA, NH. July 24, 2018
Avanade, the leading digital innovator on the Microsoft ecosystem, announced today that it has made a strategic minority investment in digital engagement solution provider Akumina. Avanade’s investment was made through Accenture Ventures and is part of Akumina’s Series A financing which successfully closed on July 12, 2018. By extending the successful relationship between the two companies, clients will benefit from faster Office 365 adoption rates, accelerated return on investment and a more digital workplace.
Founded by Ed Rogers and David Maffei, Akumina empowers enterprises to easily deploy personalized digital experiences to any audience, enabling organizations to focus on driving quantifiable increases in overall employee experience and engagement. Akumina recently announced top-line bookings growth of 185% year-over-year and annual recurring revenue growth of 187% year-over-year for the second quarter of 2018.
Avanade and Akumina have been collaborating since 2015, and to date, have realized significant results for enterprise clients in the retail, telecom, oil & gas, manufacturing and pharmaceutical industries.
Akumina’s Series A, led by Richard Berthy, will build scale and capability in North America, the UK and Germany before expanding into other key markets. As a part of the investment, Avanade will also become Akumina’s systems integration partner of choice and both companies will develop go-to-market strategies to reflect their combined capabilities. Akumina expects to more than double its headcount by the first quarter of 2019.
“Avanade’s laser focus on digital workplace and our partnership with Akumina are perfectly aligned,” said Ashish Kumar, Avanade Chief Growth Officer. “Deepening our relationship will help further enhance the value that we bring enterprise clients looking to take their employee experience to the next level.”
“There has never been a more exciting time in the marketplace,” said Ed Rogers, founder and CEO of Akumina. “Three years ago, we had a strong vision of the importance of employee engagement for our clients and together with Avanade and Microsoft, we have been able to help clients harness the digital workplace and drive results. I am looking forward to taking this to the next level for clients globally.”
The minority investment was driven by Accenture Ventures, which focuses on teaming with and investing in companies that create innovative enterprise technologies. Through extensive relationships with startups, entrepreneurs, investors, academics, venture capitalists and corporate R&D groups around the world, Accenture Ventures invests in, and teams with, promising sources of innovation in the market.