UK-based cloud accounting software provider iplicit has secured £25m ($31m) from growth equity firm One Peak.
This is the software company’s first external institutional funding round.
One Peak’s contribution will play a key role in expediting iplicit’s product development and propelling its continued expansion efforts.
iplicit CEO Lyndon Stickley said: “This investment marks a pivotal milestone in iplicit’s remarkable journey. Since our launch in 2019, we’ve achieved triple-digit revenue growth annually for six consecutive years.
“This new funding will enable us to sustain our momentum, continue delivering an exceptional experience for our customers, and solidify our position as the leading cloud accounting solution for the UK mid-market.”
He added: “The One Peak team is the latest addition to our all-star line-up of investors and advisors. We anticipate 2025 to be another breakthrough year as we expand our marketing efforts and partner network, recruiting top Sage and Advanced resellers and many of the UK’s Top 50 accounting practices.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataiplicit noted that its cloud-based platform offers advanced features, ensuring a smooth setup and migration process for clients looking to future-proof their financial operations.
This is achieved at a “fraction of the cost” and complexity of high-end systems, making it easy for businesses to scale, further claimed the company.
One Peak co-founder and managing partner Humbert de Liederkerke Beaufort said: “iplicit’s award-winning, intelligent, powerful, and intuitive cloud accounting software, along with best-in-class customer support, makes it a standout leader in its category.
“This investment underscores our belief in iplicit’s ability to continue disrupting the market by delivering transformative value to customers who are looking to move away from legacy on-premises vendors or have outgrown the limited functionality provided by entry-level accounting software solutions.”
In July 2024, the City of Birmingham Symphony Orchestra (CBSO) selected iplicit to run its finances.
