Story by FSN Managing Editor, Gary Simon
Anaplan the rapidly growing provider of budgeting, planning and performance management applications in the Cloud has received a vote of confidence from the investment community by successfully raising second round finance of $11.4m to fund its expansion into Global 5,000 companies. Anaplan, tipped as early as 2010 by FSN as a company to watch is rapidly levelling the playing field with traditional on-premises solutions and providing real choice in the larger corporate segment, with its rapid time to build and fast in-memory processing. See FSN’s product review.
"The rapid advancement with in-memory computing combined with their 20 years of market experience are what make Anaplan’s platform and leadership team so compelling," said Standish O’Grady, Managing Director of Granite Ventures one of Anaplan’s investors. “Anaplan has that rare combination of vision, talent and experience that defines leaders who use innovation to disrupt a very large market."
“Anaplan throws out the old way of doing things - rigid data models, IT and consulting dependency, relational databases, siloed point solutions, scripting languages, expensive licensing models – and has built a highly scalable, high performance application platform designed exclusively for the business user that is simply breathtaking with its ease of use and capabilities for managing complex enterprise applications,” comments Ravi Mohan of Shasta Ventures the other principal investor.
“With this investment Anaplan is now poised to cement its leadership as the next generation cross functional planning and enterprise performance application platform,” Guy Haddleton, CEO of Anaplan told FSN. “Customer adoption will rapidly accelerate as we expand our sales force, launch new markets and build our global partner network.”
