SOURCE: Adaptive Planning
MOUNTAIN VIEW, CA--(Marketwire - Nov 27, 2012) - Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced it ranked as the #5 fastest growing software company in Silicon Valley on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Adaptive Planning is also the 104th fastest growing technology company in North America on Deloitte's list. In addition, 46 of Adaptive Planning's customers ranked in the Fast 500 this year, up more than 50 percent from 30 customers on the 2011 list. Adaptive Planning recorded 1099 percent fiscal year revenue growth during the period from 2007 to 2011, and in 2012 has had a banner year with $22 million in new venture financing, an industry-leading 1,400+ customers, 300 worldwide partners, and #1 ranking in customer satisfaction among leading CPM vendors.
"We are honored to receive Deloitte's Technology Fast 500 Award again this year," said John Herr, CEO of Adaptive Planning. "Adaptive Planning is continuing to grow at an incredible pace as we help finance and management teams in companies of all sizes obtain real-time visibility into performance metrics, streamline financial planning and analysis, and drive better business decisions. We make it easy to move beyond cumbersome, spreadsheet-based processes without the cost and complexity associated with traditional on-premise business intelligence (BI) and CPM software."
Adaptive Planning previously ranked #8 in Silicon Valley on Deloitte's Technology Fast 500™ award winner for 2010. In 2012, Adaptive Planning has further increased momentum, announcing $22 million in new funding; record bookings, with 90% growth in the first half the year; and the introduction of a breakthrough new visual discovery solution. Additionally, in September the company announced it had acquired myDIALS, the leading provider of cloud data visualization solutions, ushering in a new era of cloud-based business intelligence (BI). With these results and milestones, Adaptive Planning continues to strengthen its position as the leading provider of cloud-based CPM and BI solutions.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) and business intelligence (BI) solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Planning is used by over 1,400 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 8th fastest growing company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 300 worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.