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Adaptive Insights, a company selling cloud-based software for financial planning, budgeting, and forecasting, announced today that it has raised $75 million.
Adaptive chief executive Tom Bogan wouldn’t share the company’s post-money valuation or annual revenue, but did suggest that the numbers are looking good.
“We are growing 50%+ year over year annual recurring revenue bookings and expanded international growth of 75% year over year in Q1,” Bogan told VentureBeat in an email.
An initial public offering “remains something to aspire to in the future,” Bogan wrote, but he would not say when that might happen.
Adaptive competes with Anaplan and Host Analytics, among others.
Adaptive Insights started in 2003 and is based in Palo Alto, California. It has nearly 500 employees. Previously it went by the name Adaptive Planning. The company has more than 2,700 customers, including Coca-Cola, Toyota, and Zendesk.
Going forward, Bogan said Adaptive “will scale even more into the enterprise market.”
To date the company has raised $176 million, including a $22 million round from March 2012.
JMI Equity participated in the new round, alongside existing investors Bessemer Venture Partners, Cardinal Venture Capital, Information Venture Partners, Monitor Ventures, Norwest Venture Partners, and ONSET Ventures.
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