Adaptive Planning, a Mountain View, Calif.-based provider of cloud business analytics solutions for companies and nonprofits, raised $45m in venture funding.
The round was led by Bessemer Venture Partners, with participation from existing investors ONSET Ventures, Norwest Venture Partners (NVP), RBC Venture Partners, Cardinal Venture Capital, and Monitor Ventures. In conjunction with the funding, Byron Deeter, a BVP partner, will join Adaptive Planning’s board of directors.
The company intends to use the funds to scale its direct sales and partner channels in North America, expand into new enterprise and international markets, and continue to develop its products.
Led by John Herr, CEO, Adaptive Planning provides cloud-based corporate performance management (CPM) and business intelligence (BI) solutions.
The company recently released Adaptive Consolidation, an integrated cloud-based solution for financial consolidation and analysis, which added to Adaptive Discovery, a cloud-based visual analytics featuring interactive data visualization and alerting solutions for managers across an organization to access, analyze, and explore financial and operational data.
Adaptive Planning’s solutions are used by over 1,600 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts.
Worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, offer a specialized version of Adaptive Planning as the NetSuite Financial Planning module.