Deals

Anaplan raises $30M to replace old-school business intelligence

Anaplan has raised $30 million for its planning software that helps businesses streamline their operations. Companies use Anaplan’s cloud-based solutions to model their business, collaborate on decisions, align operations and manage their sales and finances from one place.

Corporations are increasingly turning to leaner, more flexible alternatives to Enterprise Resource Planning (ERP) and business intelligence. According to a statement from Anaplan, the legacy systems “are not providing the forward-looking analysis and planning that high-performing companies need.” Anaplan’s technology integrates with enterprise systems and data. Its HyberBlock engine processes data and provides insights that businesses can use to model their operations and plan for the future. The solutions also include in-memory processing and virtual data sets that can lead to better business decisions.

2012 was a significant year for Anaplan. The company grew the customer base by 500% percent and revenues by 800%. The new funds will be used to scale the product and attract more Fortune 500 companies as clients. Current clients include Diageo, Whole Foods, and McAfee.

Meritech Capital led this round, along with existing investors Shasta Ventures and Granite Ventures. It brings Anaplan’s total capital raised to more than $47 million to date.

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