Sheldon Kralstein, co-founder and recently retired CEO of Clients First Business Solutions, died this weekend. Kralstein died from pancreatic cancer. The leadership role had been taken over by Thomas Falteich, who became president and CEO in January, after serving as the VAR's COO since it was created. Kralstein founded the company in March 2003, and became its CEO in 2004. Headquartered in Holmdel, N.J., the company sold Sage and Microsoft products in offices across the nation.
Avalara has raised $30 million in a new financing round. The company said this week the latest infusion of outside money brings the total haul of the sales-and-use-tax vendor to more than $100 million since its founding in 2004. Existing investors Battery Ventures and Sageview Capital led the most recent round. In a prepared statement, founder and CEO Scott McFarlane said, "This investment should help extend our technology and integration capabilities and support growth."
Results for Exact's Specialized Solutions were weak last year, the company said in this week's financial results. But despite the downturn in results for the three American products – Job Boss, Macola, Max – it looks like those products have a secure future. This is not based on their prospects as much as it is for their ability to help Exact Online. "The manufacturing entities can help ExactOnline in the U.S.," CEO Erik van der Meijden said in this week's earnings webcast.
While most companies are pointing to the growth in subscription model, Epicor Software turned in a strong performance in old-fashioned software revenue for the first quarter ended December 31. License revenue grew by 25 percent over a year earlier, the second straight quarter that license sales had increased by more than 25 percent, CEO Joseph Cowan said in this week's earnings conference call. He also pointed to the company's ability to increase sales of web-based products without cannibalizing the installed base.