Right90, a Foster City, California, company specializing in “bottom-up sales forecasting” software, has raised $10 million in its third round of financing.

According to salesopedia, a handy glossary for sales and marketing terms, bottom-up sales forecasting is “an approach…which takes market conditions rather than the company’s objectives as its basis.” In practice, this means looking deeper than executives’ predictions and assembling granular data from the people doing the selling, themselves. Instead of projecting that “we’ll do $15 million in sales to Acme Chickenstock over the next three months,” the bottom-up approach says “Bob will sell 20,000 trucks full of chickens to the Bay Area processing plant in March, Jane will move another 3K to Reno,” and so on.

While basing a company’s revenue assumptions on something a radical as real data from the salespeople on the ground may sound anathema to some executives, bottom-up sales forecasting would seem to offer a helpful counterbalance to sweeping top-down assessments. But, according to Kim Orumchian, CEO of sales forecasting software provider, RIght90, almost all bottom-up forecasting — if bothered with at all — is done using Excel and therefore tends to take too long to be useful. His company makes money by changing this.

Right90’s software can integrate with customer relationship management (CRM) software from Salesforce.com and Oracle. It makes it relatively easy for salespeople to enter the necessary data and then lets the decision makers chop it up and view the results it in enlightening ways. Companies like Hyperion (acquired by Oracle for around $3.3 billion in March of last year) and Adaptive Planning both offer forecasting software, but focus primarily on budget and cost forecasts.

Right90 — for now, at least — claims the leadership position in bottom-up forecasting and has pulled in a few big customers, including smartFOCUS DIGITAL and SRS Labs. The company raised this $10 million to expand sales and marketing efforts. It has so far focused on the manufacturing industry, but intends to broaden its focus into media and software.

Horizon Ventures led the round, which included prevoius investors InterWest Partners, Shasta Ventures and U.S. Venture Partners. Right90 has raised of total of $27 million so far.

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