Cloud Computing: Adaptive Planning Secures $22 Million in Financing
March 14, 2012
Adaptive Planning on Wednesday announced that it has secured $22 million in new venture financing. Norwest Venture Partners (NVP) led the round, with existing investors Cardinal Venture Capital, Clairmont Capital, Monitor Ventures, and ONSET Ventures also participating. Adaptive Planning will use the new capital to accelerate growth in sales and marketing, product development, and new channels and markets.
As part of the funding, Sergio Monsalve, Partner at Norwest Venture Partners, will be joining Adaptive Planning’s board of directors…
Monsalve noted that "Adaptive Planning strikes right at the core of an area in which I’m extremely passionate – the collaborative social enterprise. The emergence of collaboration in both small and medium sized businesses makes this a very exciting time to invest. Adaptive Planning’s outstanding competitive position, proven product and business model, exceptional customer satisfaction, and strong and seasoned executive leadership team made our choice to partner with the company an easy one."
Adaptive Planning has become the de facto solution for cloud-based CPM, having more customers and more partners than all other cloud CPM providers combined.