Cisco-Backed Almaz Capital Announces Investment in Acumatica

Investment to accelerate commercialization of flexible on-premise and SaaS ERP
and CRM software
BETHESDA, Md.--(Business Wire)--
The Almaz Capital Russia Fund I, backed by Cisco Systems, today announced an
investment in Acumatica. The investment will be used to accelerate
commercialization of Acumatica`s Software as a Service (SaaS) and on-premise
solution, providing a flexible alternative to ERP and CRM software vendors that
force a choice between being on-premise-only or SaaS-only.

Acumatica`s accounting, ERP, and CRM software for mid-market enterprises is
designed as a highly customizable web application with the flexibility to be
hosted on-premise, at a datacenter, or on a cloud computing platform.
Acumatica`s advanced financial features include flexible account structures,
multi-currency operations, and support of multiple accounting standards.

"The investment in Acumatica reflects our ongoing support and professional
interest in cloud technologies and associated business opportunities," said
Alexander (Sasha) Galitsky, Co-founder and Managing Partner of Almaz Capital
Partners. "We firmly believe Acumatica has the potential to be a game changer."

"Acumatica is well positioned to help mid-market enterprises safely transition
to web and cloud computing technology," said Ezequiel Steiner, Chief Executive
Officer of Acumatica. "The investment from Almaz will accelerate our ability to
deliver advanced accounting and ERP solutions on-premise or as SaaS."

About Almaz Capital Partners

Almaz Capital Partners is a venture capital firm that invests in Russian/CIS
related technology, digital media, and communications companies. The Almaz
Capital Russia Fund was formed in July 2008, when it completed an initial
closing with a $30 million anchor investment from Cisco. The firm has offices in
Silicon Valley and Moscow. Additional information about Almaz Capital Partners
can be found at www.almazcapital.com.

About Acumatica

Acumatica develops an integrated set of web-based accounting, ERP, and CRM
software that can be deployed on premise, hosted at a datacenter, or run on a
cloud computing platform. Using Acumatica, mid-sized businesses can access their
applications and documents from anywhere using a web-browser. Acumatica
streamlines business tasks such as accounting, financial reporting, customer
management, customer invoicing, vendor payments, expense reporting, inventory
management, and much more. Acumatica includes a complete set of business
applications, reporting tools, and customization tools. Acumatica is distributed
through a world-wide network of partners. Learn more at www.acumatica.com.

For Acumatica
Ephraim Cohen, 917-215-5413
cohen@fortexgroup.com

Copyright Business Wire 2009