iplicit, the Poole-based accounting software provider, has secured a £25 million investment from tech investor One Peak.

The six-year-old business set out to disrupt its upmarket competitors with a platform tailored to businesses which have outgrown entry-level platforms or grown frustrated with legacy vendors.

“This investment marks a pivotal milestone in iplicit’s remarkable journey,” said CEO Lyndon Stickley.

“Since our launch in 2019, we’ve achieved triple-digit revenue growth annually for six consecutive years.

“This new funding will enable us to sustain our momentum, continue delivering an exceptional experience for our customers and solidify our position as the leading cloud accounting solution for the UK mid-market.”

iplicit doubled its revenues last year, achieving growth of 113 per cent.

The feat earned the company a spot on the Deloitte UK Technology Fast 50 and an 18th-place ranking among UK businesses in the FT1000 list of Europe’s fastest-growing companies.

Humbert de Liederkerke Beaufort, co-founder and managing partner at One Peak, added: “We are thrilled to partner with iplicit on its journey to redefine accounting software for the UK mid-market.

“iplicit’s award-winning cloud accounting software, along with best-in-class customer support, makes it a standout leader in its category.

“We look forward to supporting iplicit’s ambitious vision and next phase of explosive growth.”

This latest investment marks the first external institutional funding round for the Poole business, which up to now has been self-funded.

Lyndon added: “The One Peak team is the latest addition to our all-star line-up of investors and advisers.

“We anticipate 2025 to be another breakthrough year as we expand our marketing efforts and partner network, recruiting top Sage and Advanced resellers and many of the UK’s top 50 accounting practices.

“We’re not just aiming to become a tech unicorn – we’re set to redefine the accounting software landscape.”

• iplicit.com