The association management software world is known more for its smaller “mom and pop” vendors than for big software players. It’s fairly unusual for venture capital money to be invested in this market (though it has happened on a few occasions, as noted here.)
So today’s announcement that Avectra has landed $26 million in venture capital comes as a bit of a surprise, not so much for the VC itself, but for the size of the investment. You can read all about it here.
I’ve worked with Avectra for a long time. I was even a client of theirs at one point (nearly ten years ago now). I think their latest products are quite good, so I’m hopeful this money will be spent wisely over the coming months and years.
Full disclosure: EDM is an independent third-party consulting firm. This means we have no financial relationship with any of the vendors mentioned in this blog. We provide unbiased opinions on what we see.