NetSuite
Also a provider — view NetSuite’s profile →“Can a cloud ERP become the full financial operating system for SMBs and mid-market companies by embedding payments, banking, and tax compliance natively?”
Founded1998
HQAustin, Texas, USA
FoundersEvan Goldberg
Latest roundAcquired by Oracle, November 2016
Valuation$9.3B (acquisition price, 2016)
IndustryHorizontal SaaS / Accounting
The story
Founded in 1998 as NetLedger, NetSuite pioneered cloud ERP/accounting for SMBs roughly a month before Salesforce, establishing itself as the original cloud software company. After going public in 2007 and growing to serve tens of thousands of businesses globally, it was acquired by Oracle in 2016 for $9.3B, becoming Oracle's cloud ERP growth vehicle. Post-acquisition, NetSuite has moved toward embedding fintech directly into its ERP with the 2021 launch of SuiteBanking, integrating payments, AR financing, and AP automation — transforming from a pure ERP into a financial operations hub.
Last 12 months
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Product timeline
1998
Founded as NetLedger in California by Evan Goldberg, becoming the first cloud-based accounting/ERP software company.· pivot
2007
IPO on NYSE under ticker 'N', raising approximately $165 million at a $1B+ valuation.· ipo
2016
Oracle acquired NetSuite for approximately $9.3 billion, forming the Oracle NetSuite Global Business Unit.· acquisition
2021
Launched SuiteBanking, embedding fintech capabilities (AP automation, AR financing, bill pay) directly into the ERP platform.· banking
Same company
NetSuite was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
5 layers disclosed in NetSuite’s embedded-finance stack
Payments / PSP
Lending
in the full report
Open banking
in the full report
Unified APIs
in the full report
Accounting
in the full report
Accounting gap: none
15 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.