Accel Leads Investments of $100 Million in Software Companies
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Accel Partners, the first venture firm to back Facebook Inc., led investments of almost $100 million today in two software makers, advancing its strategy of taking shares in later-stage technology companies.
Accel purchased a $60 million minority stake in Sydney- based Atlassian Pty and co-led a $38.5 million investment in New York-based Squarespace Inc., according to statements today. Both companies are at least seven years old and taking institutional money for the first time.