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.
Adaptive Insights is the worldwide leader in cloud corporate performance management (CPM) and business intelligence (BI). Via its software as a service (SaaS) platform, the company offers capabilities for budgeting, reporting, consolid... read more »
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