Natick, MA – November 17, 2014 – Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced a successful third quarter, highlighted by significant technology enhancements and a noteworthy round of funding for growth and expansion. With a substantial capital boost from TVC Capital and Northgate Capital, Centage solidifies its position as an innovator of budgeting, planning, and financial analytics solutions and lays the foundation for continued success in 2015 and beyond.
Q3 momentum highlights include:
- Secured $9.5 million in Series A funding from TVC Capital, a San Diego based growth equity firm and Northgate Capital, a global private equity and venture capital investment firm.
- Introduced Budget Maestro 7S, providing users with a more intuitive interface and additional customization options to streamline the budgeting, planning and forecasting process.
- Acquired BI-Metrix, Inc., makers of BI-Analyzer, a business analytics tool that will extend the financial analytics capabilities of the Budget Maestro solution suite.
- Added more than 200 new users across a wide variety of industries including manufacturing, healthcare, and non-profit.
- Achieved 30% revenue growth rate year to date and quarter to date over the previous year.
- Chief Financial Officer (CFO) Maxwell Rule of Hames Corporation was named a 2014 Technology Leadership Award winner by Ventana Research in the category of CFO for his use of Budget Maestro
“To date, 2014 has been an incredible year, highlighted by product innovation, technology acquisition, and significant capital investment,” said Barry Clapp, President & CEO, Centage Corporation. “Our continued revenue growth validates our unique value proposition for providing automated budgeting and forecasting solutions to small to medium sized businesses. Fueled by a recent boost in capital, we will continue to advance our solutions to best meet the needs of our customers and expand our team to support continued growth and development in 2015 and beyond.”