Anaplan expands Series C funding by US$3mil
By Digital News Asia April 10, 2013
- US$30mil Series C funding round expanded by US$3mil via Salesforce.com and other private investors
- Funds to fuel its aggressive global expansion plans and accelerate R&D
ANAPLAN, a provider of cloud-based modeling and planning solutions for finance and operations, has announced the expansion of its US$30-million Series C funding round by US$3 million
Salesforce.com, along with a range of other private investors, are contributing additional funds, joining initial Series C investors Meritech Capital Partners, Granite Ventures and Shasta Ventures.
“This additional backing by strategic investors further validates our position in the market and provides a foundation for deeper partnership. It confirms the business value of our technology and serves as further proof that we’re quickly becoming a major player in the enterprise cloud,” said Anaplan chief executive officer Fred Laluyaux (pic).
The additional funds will enable Anaplan to fuel its aggressive global expansion plans and accelerate the development of its innovative planning and modeling technology, the comoany said in a statement.
Anaplan said it has seen demand for its cloud software grow rapidly, with new customers taking advantage of its solutions to model and plan their businesses. In 2012, the company grew its customer base by 500% and revenues by 800% across the globe.
The company recently announced its expansion into Asia, via the acquisition of its leading Asian reseller Cloud EPM, and the establishment of its operations in Singapore. It also appointed Samir Neji, chief executive officer of Cloud EPM, to run its Asia Pacific operations.
Anaplan is a cloud-based, in-memory modeling and planning platform for finance, sales and operations that enables business users to intuitively and dynamically test and operationalize their plans, manage complex multi-dimensional models, collaborate across functions and regions, and share insights and content via the built-in community.
With its patented HyperBlock technology, Anaplan claims to deliver a game-changing platform that is used every day by some of the largest companies in the world, including McAfee, Diageo, Kimberly-Clark Eastern Europe and Pandora.
In Asia, it counts Air Asia, Expedia, Amcor, Super Retail Group and 2Degrees among its clients.