Axelor, the French publisher of the eponymous platform, has announced a Series A financing round for a total of 10 million Euros, primarily from the investment fund Inter Invest Capital. This round of financing is part of Axelor’s development strategy, a modular and intelligent business process management platform, which is centred on four major areas: strengthening their R&D, optimising sales and brand awareness, developing their partner network, and international expansion.
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“This round of funding will allow us to accelerate our development and gain a comfortable lead over our competitors.”
“Axelor operates in a highly competitive dual market – ERP and Low-Code but our hybrid approach is unique, and the success of our approach is proven,” stated Laith Jubair, CEO and founder of Axelor. “This round of funding will allow us to accelerate our development and gain a comfortable lead over our competitors.”
10 Million to ensure a decisively innovative positioning
In the fast-growing ERP and low-code software markets, Axelor is at the forefront with an Open-Source design that intrinsically integrates dozens of functional modules covering a large variety of business processes and an unlimited capability for users of Axelor, to develop their own systems in a fully agile and integrated manner. With 90% growth in 2021 and on the strength of this new financing, Axelor aims to establish itself as the benchmark in terms of innovation in this unique model and to double its workforce in just one year.
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Open-Source, a promising market
This increase in capital also enables us to prove that Open Source is a promising domain and explored especially by organisations, both public and private. As a matter of fact, private and public companies are always on the lookout for digital sovereignty in the development of their own information systems, and with Open Source they have found a way to retain a certain independence from their suppliers.
4 areas of development
With this round of fund raising, Axelor intends to accelerate its development in these four areas:
Strengthen R&D: in order to maintain its technological lead over its competitors, especially in the management of workflows and business applications, and to develop new and innovative features notably in the domain of Artificial Intelligence.
Develop sales and increase brand awareness: by strengthening the sales and marketing teams
Optimise the partner network: by increasing the number of partners and the implementation of new methods to support existing partners
Accelerate its international operations: focusing on an entry into the European and North American markets.
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