OneStream Software, a Rochester, Mich.-based provider of corporate performance management (CPM) solutions, secured $200m in series B funding and a valuation of $6 billion.
The round was led by D1 Capital Partners with participation from Tiger Global and Investment Group of Santa Barbara (IGSB).
The company intends to use the funds to accelerate global expansion and innovation across its intelligent finance platform and solutions marketplace.
Led by Tom Shea, CEO, OneStream Software provides a cloud intelligent finance platform which unifies corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting and analytics through a single solution.
OneStream achieved 86% growth in annual recurring revenue (ARR) in 2020, scaling its customer base by 40% to over 650 enterprises worldwide, 70% of which replaced legacy CPM applications such as Oracle Hyperion, SAP, IBM and point solutions such as Anaplan and Blackline. In the just completed Q1 of 2021, OneStream’s sales growth accelerated with over 200% growth in bookings and 100% growth in ARR, year over year.