Adaptive Planning (Budgeting and Forecasting CPM/EMP software vendor) raised US$45m in a round D capital raising in May 2013. This brings the total capital raised by Adaptive Planning in recent years to US$100m. This is a huge vote of confidence in the company and the product from a group of investors with proven track records of supporting technology companies and cloud based products (such as Linked In and Skype). These guys know a good investment when they see one.
So what does this mean to customers, prospective customers and the partner community?
Customers can take this as a sign of stability. Vendor stability is an important assessment criteria when selecting a business application and those already using Adaptive can congratulate themselves for getting this one right. A portion of the extra funding will most likely be directed to product development and customer support – and given Adaptive Planning provides 4 product updates a year at no extra cost this is great news to all existing customers.
Prospective customers can also be confident in the stability of Adaptive Planning. Longevity of software vendors is a common concern among potential customers. The support of the venture capital partners will ensure the long term growth, development and financial stability of Adaptive Planning as a company. Giving more reason to consider Adaptive Planning as a replacement of Excel and on-premise based solutions.
Partners (such as ourselves) see this as confirmation that our decision making process is sound. The investment that we have made to become certified and develop this part of our business is based on an outstanding product and a solid vendor. Speaking from a position of neutrality Adaptive Planning was clearly the standout product during our extensive review of CPM products. News like this gives us great confidence in our future.
