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Certinia

Topic: Company

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Certinia
TypePrivate company
IndustryEnterprise resource planning software
Founded2009
HeadquartersSan Jose, California
Key people
Donald Paoni (CEO)
Parent
  • Haveli Investments
Websitecertinia.com

Certinia, known as FinancialForce.com, Inc. until 2023,[1][2] is a software company headquartered in San Jose, California, that provides enterprise resource planning (ERP) software based on the Salesforce Platform. The ERP software includes accounting, billing, professional services automation, revenue recognition, human resource management, and supply chain management applications.

History

CODA was a UK software company that was founded in 1979 and acquired by UNIT4 in 2008 for around 213 million euros.[3][4]

FinancialForce was established as a joint venture between Salesforce and UNIT4 in September 2009,[5] which incorporated the Coda 2go software that was originally launched in December 2008.[6][7] As of March 2019, 40% of the shares are owned by Salesforce and 60% by UNIT4.[8] Het Financieele Dagblad estimated the value of the company at around 500 million euros, based on the 2019 annual report.[9]

In March 2015, the company received $110M in funding from Technology Crossover Ventures and Salesforce Ventures.[10] In January 2017, FinancialForce appointed former Salesforce and Heroku executive Tod Nielsen as CEO and President.[11]

Logo of FinancialForce until May 2023

On May 3, 2023, the company FinancialForce.com Inc. was renamed to Certinia.[12][13][14]

On July 26, 2023, an investment group led by private-equity firm Haveli Investments purchased Certinia for nearly $1 billion, including debt.[15][16] In October 2023, Donald Paoni was named the new CEO, replacing Scott Brown.[17]

References

  1. ↑ "FinancialForce.com Inc". https://www.bloomberg.com/profile/company/0976795D:US. 
  2. ↑ Brooks, Steve (2023-05-03). "FinancialForce rebrands to Certinia" (in en-GB). https://www.enterprisetimes.co.uk/?p=82690. 
  3. ↑ van der Beek, Pim (October 2, 2009). "Unit 4 en Salesforce gaan samen boekhouden" (in NL). https://www.computable.nl/artikel/nieuws/cloud-computing/3087501/250449/unit-4-en-salesforce-gaan-samen-boekhouden.html. 
  4. ↑ "Definition of Coda" (in en). https://www.pcmag.com/encyclopedia/term/coda. 
  5. ↑ Kanaracus, Chris (2012-03-07). "FinancialForce.com rolls out enhanced accounting, services applications" (in en). https://www.computerworld.com/article/2730429/financialforce-com-rolls-out-enhanced-accounting--services-applications.html. 
  6. ↑ "CODA completes successful CODA 2go beta programme and launches free trial" (in en-gb). 2008-12-02. https://www.accountingweb.co.uk/community/industry-insights/coda-completes-successful-coda-2go-beta-programme-and-launches-free-0. 
  7. ↑ "Salesforce.com, Coda form new SaaS financials company" (in en). Reuters. 2009-09-30. https://www.reuters.com/article/urnidgns852573c4006938800025763f005ee9ce-idUS356905951120090930. 
  8. ↑ "Unit4 slankt bedrijf af om nieuwe verkooppoging te kunnen wagen" (in nl). https://fd.nl/ondernemen/1294275/unit4-slankt-bedrijf-af-om-nieuwe-verkooppoging-te-kunnen-wagen. 
  9. ↑ "Lucratief knippen in Unit4?" (in nl). https://fd.nl/beurs/1378229/lucratief-knippen-in-unit4. 
  10. ↑ Miller, Ron. "FinancialForce Hauls In $110M Investment", TechCrunch, 26 March 2015. Retrieved on 27 March 2015.
  11. ↑ Miller, Ron. "FinancialForce selects former Salesforce and Heroku exec to be new CEO", TechCrunch, 6 January 2017. Retrieved on 6 January 2017.
  12. ↑ "FinancialForce changes its name to Certinia to connect the dots" (in en). 2023-05-03. https://diginomica.com/financialforce-changes-name-certinia-connect-dots. 
  13. ↑ "FinancialForce Rebrands To Certinia" (in en-US). 2023-06-23. https://erpnews.com/financialforce-rebrands-to-certinia/. 
  14. ↑ Brooks, Steve (2023-05-03). "FinancialForce rebrands to Certinia" (in en-GB). https://www.enterprisetimes.co.uk/?p=82690. 
  15. ↑ Vinn, Milana (July 26, 2023). "Haveli, General Atlantic to buy software firm Certinia for nearly $1 bln". https://www.reuters.com/markets/deals/haveli-general-atlantic-buy-software-firm-certinia-nearly-1-bln-sources-2023-07-26/. 
  16. ↑ Mishra, Shivam (2023-07-27). "Private equity firm Haveli to buy software company Certinia" (in en-US). https://www.verdict.co.uk/haveli-to-buy-certinia/. 
  17. ↑ Wainewright, Phil (December 8, 2023). "Certinia under new leadership - an exclusive interview with DJ Paoni, its new CEO". https://diginomica.com/certinia-leadership-exclusive-interview-dj-paoni-new-ceo. 



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