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Accelerate 2013: New Funding Announcement on Adaptive’s 10th Birthday!

There’s no better place to celebrate our 10th birthday than San Francisco, at Accelerate 2013 – our inaugural global user conference!

Our CEO John Herr kicked-off ABessemer_Venture_Partners_blogccelerate 2013 by welcoming over 500 Adaptive customers and partners with a major announcement during his keynote address (we told you not to miss it): Adaptive Planning has secured a new whopping $45 million in funding led by new investor Bessemer Venture  Partners (BVP) – a top cloud and SaaS venture capital firm. Here’s what the new funding means for our 1,600+ current customers from 81 different countries.

The new funding will support three initiatives:

  1. Scaling direct and indirect sales channels in North America.
  2. Expanding into new enterprise and international markets.
  3. Driving new product innovation (hint: this is what you should be most excited about).

Within the last year, we’ve significantly expanded our cloud business analytics platform with:

  1. Improvements to our flagship Adaptive Planning product; and
  2. A complete corporate performance management (CPM) and business intelligence (BI) suite with two new products: Adaptive Discovery and Adaptive Consolidation.

Our new industry infographic clearly illustrates Adaptive’s current market leadership as a result of this recent innovation. It also explains the market opportunity ahead. And that’s what this latest funding is really all about.

The new funding means we can continue to accelerate our product development and keep up with customer needs – from cloud capabilities, to mobile computing, to social and collaborative functionality.  In short, Adaptive is today’s solution of choice for cloud-based CPM & BI – a $33 billion market. The new funding will help us keep it that way.

Byron Deeter is the newest member of Adaptive Planning's Board of Directors.

Byron Deeter is the newest member of Adaptive Planning’s Board of Directors.

The funding also brings a new addition to the Adaptive family – Byron Deeter – a BVP partner who will join Adaptive’s board of directors. Byron is a true leader in cloud technology investment; he knows the industry, he’s written the 10 laws of cloud computing and knows a strong company when he sees it. So why Adaptive?

Yes, our innovation and corporate leadership factored in. But, “a passionate customer base,” was also among the many reasons he gave for making the investment and joining our board. So thank you Adaptive users for your passion and your role in securing this funding, and for your role in our overall growth and success! A Happy Birthday for us indeed!

Tweet your birthday wishes to @AdaptivePlans, and check out our Facebook, Twitter, and LinkedIn pages, as well as our blog, for live updates from Accelerate 2013.

And if you’re with us in San Francisco, tweet your birthday wishes and conference feedback to @AdaptivePlans using “#APaccelerate, as we’ll be recognizing the event’s best Tweets on Wednesday night!

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