SOURCE: Adaptive Planning
MOUNTAIN VIEW, CA--(Marketwire - Oct 31, 2011) - Adaptive Planning, the worldwide leader in on-demand corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced the appointment of John Herr as the company's new CEO. Herr has an exceptional track record of driving rapid growth in emerging software as a service (SaaS) and Internet companies including eBay, PayPal, Buy.com, and EZ Shield. He also has held senior leadership roles at Softbank, Ziff Davis Media, Bain & Company, and Johnson & Johnson.
Herr brings a history of scaling internet businesses into large enterprises, and a wealth of experience in sales and marketing, business development, and global expansion. Most recently, he was an Executive in Residence at Norwest Venture Partners (NVP). Prior to NVP, he was President and CEO at EZ Shield, a technology-enabled services company serving consumers and small businesses, where he doubled revenues and achieved strong profitability. During his tenure as Vice President and General Manager at eBay and PayPal, revenue grew 15-fold from $400 million to $6 billion. And as Chief Revenue Officer of Buy.com, Herr oversaw a rapid rise in annual revenue from $35 million to $860 million. He earned an Economics BA from Harvard University and an MBA from the Harvard Business School.
"John's proven experience in scaling fast-growing companies to large, successful enterprises is a tremendous asset for Adaptive Planning," said Terry Opdendyk, Founder and Partner of ONSET Ventures, the lead investor in Adaptive Planning. "He has the skills and the track record to help Adaptive Planning extend its leading position in the on-demand CPM market and capitalize on the enormous opportunity at hand."
Adaptive Planning has grown rapidly over the past five years, ranking as one of the top 10 fastest growing Silicon Valley companies on Deloitte's Technology Fast 500™.
The usage of CPM solutions is expected to skyrocket over the next two years, increasing by up to 77 percent, according to an independent survey of 1,000 senior financial executives conducted by Merrill Research. Adaptive Planning is poised to capitalize on this market growth with the highest overall brand rating of any top CPM provider.
"I am excited about the opportunities for Adaptive Planning," said John Herr. "The founders and management team have established a strong product, an impressive market presence, and a large and loyal base of customers. Coupled with a fast-growing market, all of the pieces are in place to take the company to the next level of growth and market leadership."
About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand corporate performance management (CPM) solutions for companies and nonprofits of all sizes. Adaptive Planning's solutions allow finance and management teams to obtain real-time visibility into performance metrics, streamline financial planning and reporting, and drive better business decisions. By offering affordable annual subscriptions and rapid implementations, and by eliminating the need for new hardware and IT support, Adaptive Planning makes it easy to move beyond spreadsheet-based processes without the cost and complexity associated with traditional on-premise CPM applications. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by ONSET Ventures, Monitor Ventures, Cardinal Venture Capital and Clairmont Capital.