Adaptive Planning, a Mountain View, Calif.-based provider of cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, has raised $22m in venture financing.
The round was led by Norwest Venture Partners, with participation from existing investors Cardinal Venture Capital, Clairmont Capital, Monitor Ventures, and ONSET Ventures.
The company intends to use the capital to expand its growth in sales and marketing, product development, and new channels and markets.
Led by CEO John Herr, Adaptive Planning provides a software as a service (SaaS) platform that allows finance finance, sales, HR, and other management teams to work together to plan, monitor, report on, and analyze financial and operational performance, on a continuous basis, using business data from across the organization. It has budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence capabilities.
Adaptive Planning is used by over 1,200 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts.
In conjunction with the financing, Sergio Monsalve, Partner at Norwest Venture Partners, will be joining the company’s board of directors.
Adaptive Planning is currently hiring (http://www.adaptiveplanning.com/about/careers/).
FinSMEs
14/03/2012