Posts Tagged ‘Accel’

Microsoft partners Morpheus, Accel to help startups in India

March 26th, 2012

Software giant Microsoft has partnered with Morpheus and Accel in India to provide support and services to startup companies, helping them grow their business.

BizSpark Plus, an extension of the earlier BizSpark programme, works through incubators and accelerators to provide value added products and services to high potential startups.

Morpheus and Accel have been appointed accelerators in India, and working through them, the programme will offer each of their startups up to $ 60,000 of Windows Azure services over a 24-month period to help develop their ideas and solutions.


Accel leads investments of $100 million in software companies

July 14th, 2010

Accel Partners, the first venture firm to back Facebook Inc., led investments of almost $100 million today in two software makers, advancing its strategy of taking shares in later-stage technology companies.

Accel purchased a $60 million minority stake in Sydney- based Atlassian Pty and co-led a $38.5 million investment in New York-based Squarespace Inc., according to statements today. Both companies are at least seven years old and taking institutional money for the first time.

The investments come out of Accel’s $480 million growth fund, which last year bought a stake in Groupon Inc., the online coupon provider that’s valued at $1.35 billion. Atlassian and Squarespace are both profitable and fit into Accel’s plan to help Internet and software companies that are already successful accelerate growth, said Rich Wong, a partner at the Palo Alto, California-based firm.

“You’re starting to see a continued shift toward software technology and toward the Web,” said Wong, who is joining Atlassian’s board. “Mobile, the social Web and software are going to continue to be great categories to invest in.”

Accel, founded in 1983, profited from two of the biggest acquisitions of venture-backed companies last year. Google Inc. bought mobile-advertising company AdMob Inc. for $750 million, and Electronic Arts Inc. acquired social game maker Playfish Inc. for as much as $400 million.

Accel’s biggest boon may come when Facebook sells shares to the public. The firm bought a $12.7 million stake in Facebook in 2005, when the social network had 2.8 million users, less than 1 percent of its current membership.


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