PALO ALTO, CA--(Marketwired - Feb 15, 2017) - Adaptive Insights, the only pure-play cloud vendor to be named a leader in strategic corporate performance management (CPM), today announced record achievements from 2016, capping a year of corporate, partner, and customer milestones for the company and the broader cloud CPM industry. Reaching the $80 million revenue threshold in 2016, Adaptive Insights continued its strong performance in the growing cloud CPM market. Also in 2016, Adaptive Insights was the only cloud-only vendor named a leader in Gartner's Magic Quadrant for Strategic Corporate Performance Management Solutions report*.
"Our growth and expansion over the past year is a testament to the value our customers realize after adopting an active planning approach for their businesses," said Tom Bogan, CEO of Adaptive Insights. "As more and more organizations move their infrastructure to the cloud, we are seeing a significant demand for cloud planning solutions that are simultaneously easy to use, powerful, and fast. Today, we have thousands of customers using the Adaptive Suite to engage in a truly collaborative planning process, and we are committed to ensuring that our products and services continue to meet these growing demands as our company continues to scale."
Key to the company's strong performance in 2016 were new customers, ranging from midsize and nonprofit organizations to Fortune 500 organizations. Notable additions to the company's global customer list in 2016 include Arizona Diamondbacks, Delta Plastics of the South, LLC., Hulu, Inc., National Academy of Recording Arts and Sciences, NDC Inc., NetMotion Software, New York Mets, Oakland Raiders, and Powdr Corporation.
"We selected Adaptive Insights because it is fast and powerful, and we successfully implemented Adaptive Insights across our finance team and business partners because it is so intuitive and easy to use," said Brad MacDonald, senior director of finance, T2 Biosystems. "Our ability to rapidly adjust complex models and make changes to our plans and forecasts in real-time provides a significant competitive advantage for our company. Our finance team is tasked with greater corporate management responsibility and, with Adaptive Insights, we are able to meet these new challenges head on."
Additional 2016 Highlights
In addition to strong customer growth, Adaptive Insights achieved significant milestones and accolades in 2016, including:
Expanding Partner Network
The company continues to expand its global partner network, which now boasts five of the top 10 firms on the Inside Public IPA 100 list of top US accounting firms and 22 of Accounting Today's 2016 VAR 100 list. New partners such as Moss Adams, Grant Thornton LLP, and Clifton Larson Allen, join over 200 partners including Armanino, CohnReznick, Deloitte, Intacct, Miagen, NetSuite, PowerHealth Solutions, and others.
The company's significant achievements over 2016 recognize both the company's leadership and pioneering role in the cloud CPM arena. Notable achievements include:
- Adaptive Insights was the only pure-play cloud vendor to be named a Leader in the Gartner Strategic Corporate Performance Management Magic Quadrant*
- Adaptive Insights was named a leader in the Forrester Wave™ Enterprise Performance Management Q4 2016**
- Adaptive Insights was named to the Deloitte Fast 500 Technology list for the sixth consecutive year -- one of only three companies to earn this distinction
- Adaptive Insights was named to the first-ever Forbes 2016 World's Best 100 Cloud Companies list
Expanded Executive Leadership Team, Board
Over the past year, Adaptive Insights' executive leadership team scaled along with the company, completing an expansion plan announced in early 2016. Key hires added throughout 2016 include Jim Johnson, chief financial officer; Bhaskar Himatsingka, chief product officer; Michael Schmitt, chief marketing officer; and Fred Gewant, chief revenue officer, all reporting to Bogan. Additionally, the company appointed Mark Templeton, former Citrix CEO, to its board of directors to provide additional expertise with high-growth, large-scale business models.
About Adaptive Insights
Adaptive Insights is the recognized leader in cloud corporate performance management (CPM). The company's Adaptive Suite enables organizations to collaboratively plan and model, easily access real-time analytics, streamline complex reporting, and accelerate financial consolidation. With this best-practice active planning process, Adaptive Insights helps more than 3,000 global customers drive business success using its cloud-based platform.
Customers ranging from midsize companies and nonprofits to large enterprises benefit from the company's powerful, fast, and easy platform. Adaptive Insights is a privately held company with headquarters in Palo Alto, CA. To learn more, visit adaptiveinsights.com.
*"Gartner, Magic Quadrant for Strategic Corporate Performance Management Solutions," by Christopher Iervolino and John E. Van Decker, May 31, 2016.
**"The Forrester Wave™: Enterprise Performance Management, Q4 2016" by Paul D. Hamerman with Christopher Andrews, Joseph Miller, October 6, 2016.