Adaptive Planning announces record 2012 results and exceptional momentum in cloud-based BI and CPM markets

0
6

Share on LinkedIn

Company Continues to Set Standard as Leader in Cloud-Based Corporate
Performance Management (CPM) and Business Intelligence (BI) Solutions

MOUNTAIN VIEW, CA—January 31, 2013—Adaptive Planning, the worldwide leader
in cloud-based business analytics solutions for companies and nonprofits of
all sizes, today announced record 2012 results and exceptional momentum in
the midst of skyrocketing demand for cloud-based BI and CPM solutions. The
company recorded over 90 percent growth in new software bookings and added
more than 500 new customers throughout the year.

“This past year was outstanding for Adaptive Planning as we continue to
raise the bar in cloud-based CPM solutions with the fastest growth, most
customers and partners, and highest customer satisfaction,” said John Herr,
CEO of Adaptive Planning. “And with the addition of cloud-based business
intelligence, we have added a key piece in enabling business leaders to
easily create financial and operating plans, monitor performance in
real-time, and report on and analyze results.”

Exceptional Revenue, Customer, and Company Growth
In 2012, Adaptive Planning was recognized as the 5th fastest growing
software company in Silicon Valley on the Deloitte Technology Fast 500™,
based on a 1,099 percent revenue growth rate over four years. In addition,
48 of Adaptive Planning’s customers ranked in the Fast 500 this year, up
more than 50 percent from 2011.
The company added significant new venture funding in 2012, with a $22
million investment led by Norwest Venture Partners (NVP). Adaptive Planning
also grew its staff by more than 85 percent during the year to support and
accelerate rapid global growth.

In 2012 Adaptive Planning surpassed the 1,500 customer mark and now has
45,000 users in 80 countries worldwide. While the company’s solutions serve
customers of all sizes, the fastest growing segment of business comes from
large enterprises, which represent 25 percent of new business. Customers
span numerous industries, including business services, consumer packaged
goods, education, energy, financial services, healthcare, insurance,
manufacturing, media, nonprofit, pharmaceuticals, retail, and software.

Among the company’s many new customers in 2012 were: 7-Eleven, American
Society of Anesthesiologists, Atlanta Convention & Visitors Bureau, Avis
International, Blackbaud, Box.net, City Year, Edmunds.com, Epiphany, Etihad
Airways, Flint Energy Services, Florida International University, Fujitsu
Communication Services, Joyent, Kayak Software Corporation, KeyPoint Credit
Union, LANDesk Software, NCR Corporation, Norwest Venture Partners, Oakland
Museum of California, Royal Jet, SABMiller, SolarCity, Stanford University,
Stream Energy Ltd, ThyssenKrupp Steel, Toyota, Trend Micro, Trulia, UC
Davis, United Way, Yamaha Motors, and Zendesk.
Global Partner Network

In 2012, Adaptive Planning’s global channel network grew by over 100
partners to more than 400 total partners, which played an increasingly
important role in the company’s business, influencing 50 percent of new
sales. Partners were a key part of the ongoing rapid growth of the
enterprise market for Adaptive Planning, with more than 50 percent year over
year growth in partner deals in accounts with revenues between $500 million
and $1 billion. The partners’ impact accelerated international market
presence and revenues, which doubled year over year. Partners also played a
significant role in augmenting the company’s professional services and
support teams on a global basis as the company expanded its international
footprint.

New Era of Cloud-Based Solutions and Business Intelligence
In July 2012, Adaptive Planning launched Adaptive Discovery, a breakthrough
new cloud-based visual analytics solution featuring interactive data
visualization and alerting and an intuitive and highly interactive way for
managers across an organization to access, analyze, and explore key
financial and operational data. With Adaptive Discovery, CFOs, VPs of Sales,
and other business leaders can quickly and easily gain insights into the
underlying trends in the business, allowing them to make more intelligent
business decisions that drive greater success. In September 2012, Adaptive
Planning announced the acquisition of privately-held myDIALS, the leading
provider of cloud-based data visualization solutions and among the top rated
BI vendors in customer service according to Gartner. With this
acquisition, which provided the underlying technology for the Adaptive
Discovery product, Adaptive Planning broadened the reach of its
award-winning solutions beyond corporate performance management (CPM) to
deliver cloud-based visual analytics and business intelligence (BI)
capabilities. Now all employees can access, analyze, and explore key data
from across the company, allowing them to quickly and easily visualize
performance versus plans, gain new insights, understand the impact of key
drivers, and take action to affect change in their business.

Industry Awards & Recognition
In addition to the Deloitte Technology Fast 500 and #1 customer satisfaction
accolades, Adaptive Planning received more than a dozen other prestigious
awards. Adaptive Planning President and Founder Rob Hull was awarded as
“Finance Executive of the Year” and “Entrepreneur of the Year” by the
Network Products Guide and “Entrepreneur/Founder of the Year” by the Golden
Bridge Awards. Kevin Colgate, Senior Director of Strategic Alliances, was
recognized as a “Channel Chief” by CRN. As a company, Adaptive Planning was
honored as ”Company of the Year,” “Core Vendor of the Year,” “Best New
Product or Service,” “Best Overall Company of the Year,” and “Business
Collaboration Leader.”

New Senior Level Appointments
As part of its global expansion, Adaptive Planning hired several key new
members to its executive team over the last year, all of whom bring deep
experience in rapidly scaling successful technology companies, including:
• CFO David Pefley, with experience from KLA-Tencor and Aspect Development
• VP of Global Channels & Partners Carolee Gearhart, formerly with SAP and
PeopleSoft
• VP of Sales in UK & Ireland Ian Preston, previously at SAP, Business
Objects, and Hyperion
• Managing Director in Australia Jeremy Bolton, with experience at myDIALS
and Schneider Electric
• VP of Business Intelligence Products, Peter Long, previously with myDIALS
and Citect

About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based business analytics
solutions for companies and nonprofits of all sizes. The company’s software
as a service (SaaS) platform allows finance and management teams to work
together to plan, monitor, report on, and analyze financial and operational
performance. With capabilities for budgeting, forecasting, reporting,
consolidation, dashboards, and business intelligence, Adaptive Planning
enables finance, sales, and other business leaders to make better, faster,
more collaborative decisions that drive a true competitive advantage.

Adaptive Planning is used by over 1,500 organizations worldwide, from
midsized companies and nonprofits to large corporations, including AAA,
Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail
Resorts. The company is the 5th fastest growing software company in Silicon
Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in
midmarket CPM; and ranks #1 in customer satisfaction in independent industry
surveys. With customers and partners in 80 countries worldwide, the company
has the strongest channel ecosystem in the cloud CPM space, with over 400
worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex
Systems, SAP, and NetSuite, which offers a specialized version of Adaptive
Planning as the NetSuite Financial Planning module. Adaptive Planning is
headquartered in Mountain View, Calif. and is funded by Norwest Venture
Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor
Ventures, and Cardinal Venture Capital.

News Editor
CustomerThink offers a free news posting service for press releases relevant to our community. To submit your press release to our news editor, send an email to [email protected] with the press release headline and main content in the email subject line and body, respectively. That's it! Approved press releases will appear in our news category within one business day of submission.

ADD YOUR COMMENT

Please use comments to add value to the discussion. Maximum one link to an educational blog post or article. We will NOT PUBLISH brief comments like "good post," comments that mainly promote links, or comments with links to companies, products, or services.

Please enter your comment!
Please enter your name here