Great news today: We’ve officially expanded our most recent $45 million round of funding to include new private and corporate investors!
The group of new investors includes salesforce.com, the worldwide leader in SaaS and cloud CRM solutions for all companies, from SMBs to enterprise. Additionally, former Oracle CFO Jeff Epstein is one of our new private investors. Jeff will also join Adaptive Planning as a senior advisor. Here’s what all of this great news means for you as an Adaptive customer or partner…
The added funding will help us to drive even further expansion of our sales planning and analysis capabilities.
The Adaptive Planning Sales Forecasting and Analysis solution is already available on the Salesforce AppExchange, allowing joint business customers to seamlessly integrate Adaptive’s cloud solution into their existing infrastructure. The result is a stronger link between sales performance and overall corporate financial performance.
The Adaptive Planning – salesforce.com relationship, along with the expanded funding, will allow us to build upon the current sales planning & analysis application available on the Salesforce AppExchange.
“This new strategic investment is further validation of our cloud leadership. Over the last 18 months we’ve drastically expanded our product line to reach new markets, introducing Adaptive Discovery for data visualization and Adaptive Consolidation for financial consolidation. With this new strategic investment, we look forward to expanding our investment in the area of sales planning and forecasting and reaching the sales market.”
— John Herr, CEO, Adaptive Planning
On the private investment front, Jeff Epstein adds a wealth of experience, knowledge, and
success to Adaptive’s advisory board. He recently shared some of his finance wisdom as a keynote speaker during Adaptive’s “The Modern CFO” event on Oct. 15, during which he drew from his own experience to detail his five corporate finance lessons for today’s CFOs.
Epstein has served as CFO for several companies throughout his career, including Oracle, King World Productions, DoubleClick, and Nielsen’s Media Group. In his most recent CFO experience with Oracle, he served as the company’s finance chief for three years. Jeff has a very broad knowledge of corporate finance and has decided to invest in and join Adaptive Planning for several reasons.
For one, he’s already familiar with Adaptive and our industry-leading corporate finance technology. Epstein is an Operating Partner at Bessemer Venture Partners, the leading Cloud and SaaS venture capital firm that led this current $45 million round of new funding for Adaptive. Epstein noted other reasons as well:
“Simply put, Adaptive Planning is a hot commodity. The company is on an outstanding growth trajectory as its cloud solution addresses a huge market need among finance professionals for better alternatives to Excel on the low-end and the big cumbersome, enterprise on-premises software on the high-end. Adaptive is an attractive investment opportunity, with by far the largest customer base and the most comprehensive, integrated suite of any CPM provider in the cloud and the top rated customer experience of any company in the category.”
A strong endorsement from one of the most trusted and experienced leaders in the finance industry. As a CFO myself, I’m particularly excited that Jeff is joining the Adaptive team. And as an entire company, we’re thrilled to have the support of Jeff and of salesforce.com.
This expanded investment round will only help us to continue to address your corporate finance challenges of today, and continue to develop our product to meet your future needs.