Certinia Acquisition, Valuation, Funding & Investors

Certinia was acquired by Haveli Investments for $1B in July 2023.

Certinia acquisition price

$1B

Acquired by Haveli Investments · Jul 2023

Cumulative funding Certinia raised

$160M

across 2 funding rounds

Key investors in Certinia

  • TCV
  • Salesforce Ventures
  • Advent International

Certinia Overview

About Certinia

Certinia, formerly known as FinancialForce, is a San Jose, California-based software company that provides a Services-as-a-Business platform built on Salesforce's cloud infrastructure. Its products span Professional Services Automation, Customer Success, Services CPQ, ERP, and financial planning and analysis tools, helping services organizations manage everything from project estimation and delivery to customer success and financial planning. The company counts Hewlett Packard Enterprise, Philips, Cisco, and Siemens among its enterprise customers.


Founded

2009

HQ

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (acquired Jul 2023)

Certinia Acquisition

Certinia was acquired by Haveli Investments for $1B on 26 July 2023.

Before the acquisition Certinia had raised $160M across 2 funding rounds.

Certinia, formerly FinancialForce and headquartered in San Jose, California, provides a Services-as-a-Business platform including Professional Services Automation (PSA), Customer Success, Services CPQ, ERP, and FP&A solutions delivered on Salesforce’s cloud platform. The platform powers services operations from estimation and delivery to customer success management and financial planning for clients like Hewlett-Packard Enterprise, Philips, Cisco Systems, and Siemens. Haveli Investments, an Austin-based technology-focused private equity firm founded in 2021 by Brian Sheth, former president of Vista Equity Partners, acquired Certinia from Advent International and Technology Crossover Ventures (TCV) in a deal announced July 26, 2023, and closed August 4, 2023, valued at nearly $1 billion including debt per Reuters sources. Haveli funded the transaction through its Haveli Investments Software Fund I L.P., with participation from General Atlantic, while Salesforce retained its minority stake of under 10% originally invested in 2009. The acquisition marks Haveli’s first major enterprise software investment, leveraging its team's experience in high-potential enterprise software companies to support Certinia’s growth in the expanding services market through potential acquisitions and enhanced capabilities. Certinia’s CEO Scott Brown highlighted Haveli’s world-class team for capitalizing on growth opportunities, with no immediate changes anticipated in management, leadership, or products; Haveli Principal Mike Stewart emphasized Certinia’s strong offering and loyal customer base for stakeholder value creation. Legal advisors included Ropes & Gray for Haveli and Wilson Sonsini for Certinia, with Morgan Stanley as financial advisor to Haveli. The deal positions Certinia for global expansion, potentially strengthening ties with Salesforce for future synergies in financial management and PSA.

Certinia acquisition details
AcquirerDateTypePrice
  • Haveli Investments
26 Jul 2023PE buyout$1B

Certinia Funding History

Certinia has raised a total of $160M across 2 funding rounds.

Certinia's first fundraising round was a $50M undisclosed-stage round in April 2014. The most recent completed round was a $110M undisclosed-stage round in March 2015.

Certinia funding rounds

Certinia funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2015Undisclosed stageTCV (lead); Salesforce Ventures$110MIn March 2015, FinancialForce (later renamed Certinia in May 2023) closed a $110 million funding round led by Technology Crossover Ventures (TCV) with participation from Salesforce Ventures. The company delivered Professional Services Automation (PSA), Customer Success, Services CPQ, ERP, and Financial Planning & Analysis (FP&A) solutions built on the Salesforce platform. The investment represented TCV's entry into the company, following Advent International's initial $50 million investment in 2014. Salesforce had backed the company since its founding in 2009 and retained its investment through the 2015 round. The company served enterprise customers including Avalara, Celonis, Siemens, Cisco, and Thales, operating across 30 countries with over 1,400 customers. The company later achieved a valuation of nearly $1 billion (including debt) when Haveli Investments and General Atlantic acquired it from Advent and TCV in 2023, with Salesforce maintaining its stake.
Apr 2014Undisclosed stageAdvent International (lead); TCV$50MCertinia, formerly FinancialForce, is a business software vendor providing a system of record for professional services organizations, built on the Salesforce platform. It offers end-to-end software solutions and has seen significant growth under CEO Scott Brown. The company originated as a spinout or investment from UNIT4, with early backing including Salesforce Ventures. In April 2014, Advent International made a $50 million investment into FinancialForce (now Certinia), as part of a broader deal involving its then-parent UNIT4. Subsequent rounds included a March 2015 Series B with $110M from TCV and Salesforce Ventures at a $530M valuation, and a 2017 Series C. The company raised a total of $193.9M across 7 funding rounds from investors including Salesforce Ventures, Advent International, TCV, and UNIT4. In July 2023, Advent International and TCV sold their majority stake to Haveli Investments with participation from General Atlantic in a deal valued at nearly $1B including debt, marking an exit after nearly a decade of investment starting in 2014. Salesforce retained its investment.

Who has invested in Certinia?

3 investors have backed Certinia across its funding rounds, including TCV, Salesforce Ventures and Advent International.

Lead investors include TCV and Advent International.


Certinia Investors

Investors in Certinia by funding rounds participated
InvestorHQRoundsRoleFirst check
TCVUnited StatesSan Francisco, CA2LeadApr 2014

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Acquisitions by Certinia

Certinia has acquired 1 company to date.

Last acquisition by Certinia was on July 20th 2026. Certinia acquired MOONNOX for undisclosed valuation.


Latest Acquisitions by Certinia

MOONNOX
Description
MOONNOX is a San Francisco-headquartered AI platform automating customer, partner, and employee inquiries through digital concierges. Launched in 2022, the service trains on business content to deliver tailored recommendations via conversational interfaces on web and mobile. MOONNOX handles complex queries in sectors like e-commerce and SaaS, integrating with CRM systems for seamless engagement and analytics.
HQ CountryUnited States
HQ City
Chicago, IL
Deal Date20 Jul 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Certinia Competitors

Certinia competitors include listed companies like Freee, TOTVS, Workday and SAP, and private ones like Deskera and CaptivateIQ.

Public and private companies comparable to Certinia
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FreeeJapanJapanPublicly listed$214M$6M$1.5B4.8x
DeskeraUnited StatesMinneapolis, MNPrivate--$495M-
TOTVSBrazilBrazilPublicly listed$1.1B$318M$3.8B3.2x
WorkdayUnited StatesUnited StatesPublicly listed$9.6B$1.2B$48B4.7x
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x
CaptivateIQUnited StatesSan Francisco, CAPrivate$44M-$1.3B28.4x

Certinia Public Comps

Certinia is no longer listed, but its public comps include Fujian Boss Software, 74Software, Asseco Business Solutions, Inspur, Hangzhou Anysoft, Digiwin, Teamshares, Business Engineering, Koal Software and Freee.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Fujian Boss Software$299M$40M2.8x2.9x21.1x21.0x
74Software$814M$112M1.9x1.8x13.7x9.8x
Asseco Business Solutions$126M$49M5.8x5.2x14.9x12.8x
Inspur$172M($31M)3.7x2.7x(20.3x)-
Hangzhou Anysoft$150M$15M5.5x-54.3x-
Digiwin$363M$48M4.0x3.8x30.1x23.6x
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
Business Engineering$157M$49M2.9x2.8x9.2x-

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Common questions about Certinia

When was Certinia founded?Certinia was founded in 2009.
Where is Certinia headquartered?Certinia is headquartered in United States.
Is Certinia publicly listed?No, Certinia was acquired by Haveli Investments in July 2023.
Who acquired Certinia?Certinia was acquired by Haveli Investments in July 2023.
How much was Certinia acquired for?Certinia was acquired for $1B in July 2023.
How much funding has Certinia raised?Certinia has raised $160M across 2 funding rounds.
What was Certinia's last funding round?Certinia's last funding round was a $110M undisclosed-stage round in March 2015, led by TCV.
Who are Certinia's investors?Certinia's investors include TCV, Salesforce Ventures and Advent International.
Which companies are comparable to Certinia?Companies comparable to Certinia include Freee, Deskera, TOTVS, Workday, SAP and CaptivateIQ.
How many companies has Certinia acquired?Certinia has acquired 1 company, including MOONNOX.

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