Axelor, a business application suite that provides an alternative to traditional ERP and CRM, has raised €10m in a Series A funding round.
Axelor claims it is at the forefront of the fast-growing ERP and low-code software markets and has a goal of accelerating its development and leading the market. The round was backed by Inter Invest Capital.
The company has developed an open-source design that intrinsically integrates a range of functional modules covering a large variety of business processes.
Axelor claims this round of financing is part of its development strategy, a modular and intelligent business process management platform, which is focused on four key areas. These are strengthening their R&D, optimising sales and brand awareness, international expansion and developing their partner network.
Axelor CEO and founder Laith Jubair said, “Axelor operates in a highly competitive dual market – ERP and Low-Cod but our hybrid approach is unique, and the success of our approach is proven. This round of funding will allow us to accelerate our development and gain a comfortable lead over our competitors.”
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The round was led by Calyx Venture Fund with existing investors including Lord Stanley Fink and MPA Education also taking part.
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