MOUNTAIN VIEW, CA--(Marketwire - Sep 19, 2012) - Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced record year-over-year growth, with new bookings increasing 90 percent in the first half of 2012. This rapid growth capped an exceptional six months for the company, in which it also raised a $22 million round of funding, introduced a breakthrough new visual discovery solution, and was recognized for ranking #1 in customer satisfaction among all leading CPM vendors. Additionally, in September the company announced it had acquired myDIALS, the leading provider of cloud data visualization solutions, ushering in a new era of cloud-based business intelligence (BI).
With these results and milestones, Adaptive Planning continues to strengthen its position as the leading provider of cloud CPM solutions and moves aggressively into the broader BI market.
Exceptional Customer Growth
Adaptive Planning now has over 1,400 customers worldwide, at least 5 times more than any other cloud CPM vendor. Over the last 4 years, Adaptive Planning's customer base has grown 1,240 percent, making the company the 8th fastest-growing company in Silicon Valley on the Deloitte Technology Fast 500.
Customers range from midsized companies to large corporations, and 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 the first half of 2012 were: Agensys, Air Medical Group Holdings, Andrews Distributing, Blackbaud, BroadSoft, City Year, Confederated Tribes of Grand Ronde, Etihad Airways, Fieldpoint, Hope Network, KeyPoint Credit Union, Prometheus Laboratories Inc., Regents College, Siemens, Stream Energy, XO Group Inc., Yamaha Motors, and Yodlee.
Major Strategic Acquisition and Visual Discovery Product
Earlier this month, Adaptive planning announced it is redefining the way business users consume and analyze information with the acquisition of privately-held myDIALS. With this acquisition, Adaptive Planning broadens the reach of its award-winning solutions beyond CPM to deliver cloud-based visualization and BI capabilities to business users in organizations of all sizes.
Featuring a highly-intuitive user interface, interactive drill-down, automated alerts, sophisticated analytics, real-time what-if scenarios, mobile access, and robust data capture and aggregation, myDIALS centralizes and presents key performance indicators and business metrics in real-time, as the metrics change, across disparate enterprise systems and functional areas throughout a company. In Q2, Adaptive Planning introduced its latest product release, Adaptive Discovery, a breakthrough new cloud-based data visualization solution that incorporates the recently acquired myDIALS technology.
The acquisition also reinforces Adaptive Planning's commitment to providing exceptional customer service and support, as myDIALS was one of the top-ranked vendors in terms of overall customer satisfaction, product experience, overall BI success, and business benefits achieved in Gartner's report "Survey Analysis: Customers Rate Their BI Platform Vendors, 2012."
Significant New Investment Round
In March 2012, Adaptive Planning announced that it had secured $22 million in new venture financing. Norwest Venture Partners (NVP) led the round, with existing investors Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital also participating. Adaptive Planning will use the new capital to aggressively scale its direct sales and partner channels worldwide, as well as to broaden and deepen its suite of award-winning CPM and business intelligence solutions.
Strong Channel Performance
Adaptive Planning also continued to build on its global channel leadership. With over 200 partners worldwide, the company's channel is by far the largest and most robust partner ecosystem in the cloud CPM space. Adaptive Planning deepened relationships with numerous partners, including Plex Systems, Intacct, SAP, Armanino McKenna, IntuitiveTek, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module.
Industry Awards & Recognition
In June, Adaptive Planning announced that it ranked #1 in customer satisfaction in BPM Partners' annual survey of companies using performance management solutions. Adaptive Planning's overall customer satisfaction score, 4.94 out of 5.00 points, was not only the top score this year, but also the highest score in the history of the survey. Additionally, Adaptive Planning ranked #1 among all established CPM vendors in 10 out of 12 key attributes, including sales process, price/value, ease of use, ease of implementation, product performance, product quality, product documentation, training, consulting, and communication with customers. Adaptive Planning was also named a Top 10 "Core Vendor" for the 5th year in a row, another record among cloud CPM providers.
In addition to the BPM Partners recognition, Adaptive Planning and its executives received numerous other prestigious awards and accolades based on product innovation and overall corporate growth and momentum. Adaptive Planning was named an AlwaysOn OnDemand 100 and Global 250 Winner, and was a finalist in two categories of the American Business Awards and in three CODIE Awards categories. Additionally, Adaptive Planning's founder and president, Rob Hull, was honored as the Founder/Entrepreneur of the Year by Information Technology.
About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) 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 1,400 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 8th fastest growing 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 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 200 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.