Feeds

Kiwi 'ccountancy cloud collects colossal cash casket

Xero wins another $NZD180m in funding

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

New Zealand software-as-a-service (SaaS) accounting software Xero has announced an injection of $NZD180m in funding, much of it it from US-based venture capitalists.

The new fund raising is earmarked to “support continued global growth”. Xero's already growing quite nicely, thank you very much, having won more than 211,000 customers in Australia and New Zealand and achieved dual listing in those nations. In those markets it is quickly emerged as the challenger to established accountancy software outfits MYOB and Reckon, both of which have SaaS offerings.

The Register has had discussions with accounting professionals who have found demand for Xero is sufficiently strong they now offer services for it alongside MYOB and Reckon. Anecdotally, the service is said to be the dominant SaaS accounting service for new businesses, who find it's ground-up development as a SaaS offering makes it more elegant than rivals. It's also said to be doing well winning migrations from other accounting products.

Xero says it already has customers in over 100 nations but now feels it needs to get big in America.

If the new cash infusion helps Xero to repeat its trick of shaking up incumbent small business accountancy-ware players, plenty of Reg readers may soon find themselves being asked about migrations or implementations. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
'Windows 9' LEAK: Microsoft's playing catchup with Linux
Multiple desktops and live tiles in restored Start button star in new vids
iOS 8 release: WebGL now runs everywhere. Hurrah for 3D graphics!
HTML 5's pretty neat ... when your browser supports it
Mathematica hits the Web
Wolfram embraces the cloud, promies private cloud cut of its number-cruncher
Mozilla shutters Labs, tells nobody it's been dead for five months
Staffer's blog reveals all as projects languish on GitHub
'People have forgotten just how late the first iPhone arrived ...'
Plus: 'Google's IDEALISM is an injudicious justification for inappropriate biz practices'
SUSE Linux owner Attachmate gobbled by Micro Focus for $2.3bn
Merger will lead to mainframe and COBOL powerhouse
iOS 8 Healthkit gets a bug SO Apple KILLS it. That's real healthcare!
Not fit for purpose on day of launch, says Cupertino
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.