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Adaptive Planning Announces Record Results for 2011Company Continues to Set Standard as Leader in Cloud-Based Corporate Performance Management Solutions (March 22, 2012)
MOUNTAIN VIEW, CA -- (Marketwire) -- 03/22/12 -- Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced record 2011 results and exceptional momentum in the midst of skyrocketing demand for CPM solutions. This news follows last week's announcement that Adaptive Planning has secured $22 million in new venture financing led by Norwest Venture Partners.
With these exceptional results and momentum, Adaptive Planning continues to set the standard as the leader in cloud-based CPM solutions. Adaptive Planning has the fastest growth (#8 in Silicon Valley), most customers (over 1,200), and most partners (over 200) in cloud CPM, as well as the #1-rated brand in midmarket CPM according to Merrill Research. NetSuite, the industry's leading provider of cloud-based financials / ERP software suites, offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. And Adaptive Planning ranks #1 in customer satisfaction among leading CPM vendors, based on independent industry surveys.
Exceptional Revenue and Customer Growth
In 2011, Adaptive Planning was the 8th fastest growing company in Silicon Valley on the Deloitte Technology Fast 500, based on a 1,240 percent revenue growth rate over four years. In addition, 30 of the company's customers were also named to the Technology Fast 500, illustrating the leading role that Adaptive Planning is playing in helping the most innovative and fastest-growing companies in the world better manage their business performance.
Adaptive Planning now has over 1,200 active customers and 27,000 users worldwide, ranging from midsized companies to large corporations, and spanning numerous industries, including business services, consumer packaged goods, education, energy, financial services, healthcare, insurance, manufacturing, media, nonprofit, pharmaceuticals, retail, and software.
Among the company's many new customers in 2011 were: AGCO South America, American Academy of Pediatrics, Arizona State Credit Union, Blood Systems, Bridgestone Industrial Products America Inc., Boston Scientific, Bloom Energy, Capital District Physicians' Health Plan, The Container Store, The Doe Run Company, Fairfield Residential, First National Bank of Alaska, IntegraMed America, NorthStar Financial Services Group LLC, Questcor Pharmaceuticals, Standard Motor Products, State Auto Insurance Companies, TMP Worldwide, United States Olympic Committee, Webtrends, and Yerba Buena Center for the Arts.
Global Partner Network
In 2011, Adaptive Planning's network of over 200 global channel partners played an increasingly important role in the company's business, driving 33 percent of the company's new bookings and influencing 50 percent of new sales. Partners also played a significant role in augmenting the company's professional services and support teams on a global basis.
Powerful New Features and Solutions
In the last six months, Adaptive Planning introduced its Fall 2011 and Winter 2012 product releases, which feature extensive new reporting and enterprise collaboration features, including the capabilities to perform transaction reporting and analysis, share report annotations, publish report books, and much more. With these new releases, the company has further extended its leadership in next-generation cloud CPM solutions.
In April 2011, Adaptive Planning introduced its Spring 2011 Release, which featured a breakthrough new multi-instance capability that allows multi-entity organizations to streamline and enhance complex, multi-division planning, reporting, and consolidation processes. The release also greatly expanded its integration platform, allowing cloud-to-cloud in addition to cloud-to-on-premises connections to numerous systems, including NetSuite, Salesforce.com, OpenAir, Intacct, Oracle, SAP, Great Plains, QuickBooks, and many more.
Alongside the Spring 2011 release, Adaptive Planning introduced a major new performance management solution, Sales Forecasting & Analysis, which allows sales and management teams to streamline and enhance revenue forecasting, dramatically improve pipeline and sales analysis, and seamlessly integrate sales and financial plans.
#1 Brand in Market with Skyrocketing Demand
According to an independent survey of 1,000 senior financial executives conducted by Merrill Research in 2011, the usage of CPM solutions in midsized companies is expected to skyrocket over the next two years, increasing by up to 77 percent. Additionally, 42 percent of midmarket companies plan to evaluate a new or replacement CPM solution. The report also found that Adaptive Planning has the #1 overall brand rating in midmarket CPM, ahead of well-known technology vendors such as Oracle, SAP, and IBM. This strong brand, together with a finding from Merrill that cloud-based solutions are increasingly preferred by finance teams, place Adaptive Planning in an ideal position to capitalize on the surging demand for CPM solutions.
Industry Awards & Recognition
In addition to the Deloitte Technology Fast 500 and #1 brand rating accolades, Adaptive Planning received numerous other prestigious awards based on product innovation and overall corporate growth and momentum. Adaptive Planning was honored as both an OnDemand Top 100 and Global 250 winner by AlwaysOn, a "Top 40 Vendor to Watch" by Information Management, a "Hot Technology" winner by Network Products Guide, and a "Core Vendor" by analyst firm BPM Partners. Additionally, Adaptive Planning ranked #1 in customer satisfaction in BPM Partners' 2011 survey of performance management customers, echoing the #1 in customer satisfaction ranking it received from Gartner.
In October 2011, Adaptive Planning announced the appointment of a new CEO, John Herr, enhancing the company's ability to maximize revenue and customer growth. Herr has an exceptional track record of driving rapid growth in emerging software as a service (SaaS) and Internet companies including eBay, PayPal, and Buy.com. He also has held senior leadership roles at Ziff Davis Media, Bain & Company, and Johnson & Johnson.
About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance -- on a continuous basis, using business data from across the organization. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, HR, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Planning is being used by over 1,200 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 8th fastest growing company in Silicon Valley on the Deloitte Technology Fast 500 list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. NetSuite, the industry's leading provider of cloud-based financials / ERP software suites, offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners, ONSET Ventures, Monitor Ventures, Cardinal Venture Capital and Clairmont Capital.
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