Corporate performance management (CPM) company Adaptive Planning just got some valuable market validation.
The Palo Alto, Calif.-based company extended the $45 million funding round it raised in May to a few additional investors, including Salesforce.com and former Oracle CFO Jeff Epstein, Adaptive Planning announced Wednesday morning.
In a call with VentureBeat last night, Adaptive Planning CEO John Herr declined to disclose the amount of new investment. It’s more about strategy than capital, he said.
“Salesforce means a lot,” said Herr. “It’s a very powerful brand on Main Street.”
Epstein, meanwhile, is now a senior advisor to Adaptive. Epstein has helped Adaptive develop its business and build a community of chief financial officers, said Herr.
Adaptive Planning offers a suite of cloud-based software for budgeting, planning, forecasting, and data discovery. It has more than 1,800 customers, from very small businesses to major enterprises like Coca-Cola, Nissan, and Toyota.
It competes with solutions from Oracle, IBM, and SAP, but its cloud-based offering and strong partner network have made it a leader in the CPM space.
Adaptive Planning’s software is available on Salesforce’s AppExchange.
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