Corporate performance management (CPM) company Adaptive Planning just got some valuable market validation.
The Palo Alto, Calif.-based company extended the $45 million funding round it raised in May to a few additional investors, including Salesforce.com and former Oracle CFO Jeff Epstein, Adaptive Planning announced Wednesday morning.
In a call with VentureBeat last night, Adaptive Planning CEO John Herr declined to disclose the amount of new investment. It’s more about strategy than capital, he said.
“Salesforce means a lot,” said Herr. “It’s a very powerful brand on Main Street.”
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Epstein, meanwhile, is now a senior advisor to Adaptive. Epstein has helped Adaptive develop its business and build a community of chief financial officers, said Herr.
Adaptive Planning offers a suite of cloud-based software for budgeting, planning, forecasting, and data discovery. It has more than 1,800 customers, from very small businesses to major enterprises like Coca-Cola, Nissan, and Toyota.
It competes with solutions from Oracle, IBM, and SAP, but its cloud-based offering and strong partner network have made it a leader in the CPM space.
Adaptive Planning’s software is available on Salesforce’s AppExchange.
