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Sales software developer Unaric raises £27.5m to fuel acquisitions

Image credit: Unaric

Unaric, a company buying and merging Salesforce software companies, has raised $35m (£27.5m) in a debt and equity funding round to fund an acquisition spree.

Salesforce is a US software giant that has built a platform for services such as customer relationship management software, marketing automation, e-commerce, analytics, and application development.

Based in London, Unaric’s approach to Salesforce product building is based around acquisitions. The company is looking to acquire 30 to 40 independent software vendors (ISVs) over the next three years, with 10 to 15 of those coming in the first year.

The first of these deals is with the London-based Salesforce module Salesbolt, which has over 1,000 customers.

“There is a mismatch in the Salesforce ISV ecosystem which we have experienced personally and we know how to put it right,” said Unaric co-founder and CEO James Gasteen.

“We believe that by building suites of products that match more closely the needs of enterprises, we can help companies to significantly increase their sales, scale their businesses and sell to corporate buyers who would not normally buy from individual vendors.”

Gasteen said that by acquiring relevant firms, Unaric can “take all the admin off the founders’ plate and accelerate their growth channels”.

The funding round came from LocalGlobe, along with Concentric, FJ Labs and Atempo Growth, along with a handful of angel investors.

“With highly successful, repeat entrepreneurs at the helm, Unaric is one of the most exciting businesses we have seen in the enterprise sector,” said Julian Rowe, general partner at LocalGlobe.

“Peter and James’s ambitious plan will create real value for enterprise customers, as well as unlocking strong new investment and commercial opportunities for the companies it acquires.”