Accel-KKR, a technology-focused investment firm, has completed a majority equity investment in Phocas Software, a Business Intelligence (BI) and Financial Planning & Analysis (FP&A) platform serving the middle-market.
The financial terms of the transaction were not disclosed. The investment aims to provide Phocas with enhanced resources and expertise to expand its global market presence, focusing on product development, customer success, and partner services. Key product innovation initiatives, including integrated AI features tailored to customer challenges, are also underway.
Phocas Software offers a platform designed for manufacturing, distribution, and retail businesses. It connects to industry ERP systems and consolidates various data sources into a single platform, enabling teams to gain rapid and accurate insights for planning, analysis, and company-wide decision-making. The company was recognized in 2024 by BARC’s “the planning survey” as a global leader in product innovation within both the BI and FP&A and middle-market categories.
Myles Glashier, co-founder and CEO of Phocas, stated, “Accel-KKR’s support gives us the resources and expertise to deliver even greater value to mid-market companies, helping them use data more effectively to drive growth. It’s an exciting next chapter as we fast-track our plans and build on the trust we’ve earned with our customers.”Dean Jacobson, Managing Director at Accel-KKR, commented on the investment, saying, “Middle-market businesses, like their larger peers, are seeking more efficient ways to work and Phocas’ purpose-built software platform provides them with new levels of visibility and control. Importantly, Phocas delivers mission-critical software with pre-built workflows tailored to the unique needs of different functional groups across key verticals. We are thrilled to partner with Myles Glashier and the Phocas team at this key point in the company’s growth.”Phocas currently supports over 2,800 businesses globally, assisting them in connecting, understanding, and planning through its all-in-one platform for BI and financial planning and analysis. Headquartered in Sydney, Australia, with additional offices in Melbourne, Costa Mesa, Reno, Coventry, and Christchurch, Phocas was accredited as a B Corp in 2022. Accel-KKR, based in Menlo Park, California, manages $23 billion in cumulative capital and specializes in software and tech-enabled businesses.
