Google Exec Backs Cloud Accounting Start-Up, while Xero Raises $16 Million.
Xero online accounting software for small businesses has secured $16.6 million in new funding from existing investors to accelerate growth in the United States. The company recently appointed former Sage vice president and general manager Jamie Sutherland, as president of U.S. operations and doubled its U.S. team.
Meanwhile, Reach Process Outsourcing Ltd. of Chennai, India, has raised a fresh round of angel funding for its portal Reachaccountant.com from investors including Google-India managing director Rajan Anandan, who takes a seat on the board.
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