A German startup that develops ERP for online small businesses, but it clearly didn’t plan to stop there.

I'm not sure there is such a thing as the "SMB ERP" space given the size of companies but I will say that below Netsuite many companies struggle to do what ERP is great at meaning SKU and customer mastering, Bill of Materials, purchase orders, and cost tracking.

TechCrunch: xentral, an ERP platform for SMBs, raises $75M Series B from Tiger Global and Meritech