Adaptive Insights Raises $ 75 Million for Real-Time Financial Data Management Solution

by bold-lichterman

The amount

Adaptive Insights, an American company specializing in financial planning, has just raised $ 75 million (€ 66.8 million) from JMI Equity and historic shareholders Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital , Monitor Ventures and Information Venture Partners.

The company had already completed several significant rounds of funding in the past, including one of 45 million dollars in 2013, and 22 million dollars in 2012. Following this new operation, the amount of the valuation was not however. communicated.

The concept

Founded in 2003 in Palo Alto, California, Adaptive Insights develops a platform for the financial management of companies – budget, forecasting, reporting, consolidation… – for financial or commercial departments. This is essential for large or mid-size companies. “CFOs (chief financial officer, editor’s note) are more and more in the foreground when it comes to the strategy and direction of their companies, and are looking for the right technology to provide real-time insight into the data (…) and get a 360 degree view of their businessSaid Tom Bogan, CEO.

With a solution marketed as a service, Adaptive Insights claims large accounts among its customers, including Konica Minolta, Philips, Siemens and Coca-Cola. In the end, the company claims to have more than 2,700 companies using its solutions in 85 countries.

The market

Adaptive Insights is not the only company in this market, however. The American company Anaplan, for example, also offers financial planning solutions. To accelerate, the latter completed a funding round of $ 100 million in 2014. [à lire sur le sujet : Anaplan, la start-up qui bouscule la planification en entreprise, ndlr]

CEO: Tom bogan

Creation: 2003

Market : financial planning software

Competitor: Anaplan

Photo credit: Fotolia, royalty-free stock images, vectors and videos