Adaptive Insights Surpasses $100M in Annualized Revenue as Cloud Planning Market Expands
Dec 20, 2017 Adaptive Insights
Joins Elite Group of SaaS Companies to Achieve Milestone
Adaptive Insights, a leader in strategic corporate performance management (CPM), announced it has achieved two significant $100 million dollar milestones as the company continues to drive sales of cloud planning software worldwide. Adaptive Insights has crossed the $100 million revenue threshold, for the trailing 12 months, and has $100 million in annual recurring subscriptions under contract, two recognized indicators of scale for successful SaaS companies. The cloud planning software company credits the ease of use of its Adaptive Suite, enabling the growing adoption of corporate planning software by business and finance users alike.
“These milestones are a clear reflection of the value cloud planning software delivers to successful organizations today,” said Tom Bogan, CEO of Adaptive Insights. “The demand for companywide planning software continues to escalate, as organizations of all sizes—enterprise, midmarket and SMB—use our platform to adopt an active planning process that addresses the challenges of today’s dynamic business environment. We salute our employees, partners and especially our customers as we mark these important milestones on our continued plan for growth and scale.”
Enterprise Customers, Expanding Business Function Adoption Drives Growth
Key to the company’s strong performance is deeper expansion to serving large enterprises, as well as an increasing number of organizations using its cloud planning software outside of the finance organization. With licensed users across finance and business functions, such as sales, HR, marketing and operations, the collaborative features of the platform have expanded adoption with customers such as Guardian Pharmacy Services, HubSpot, P.F. Chang’s, Polaris and the University of Arizona.
Commenting on the significance of today’s announcement, Byron Deeter, partner at Bessemer Venture Partners, Adaptive Insights board member, and author of "Bessemer's 10 Laws of Cloud Computing and SaaS," said, “Crossing the $100 million revenue threshold puts Adaptive Insights into an elite class of SaaS companies, as fewer than 1% of software businesses ever reach this milestone. This is a direct result of the company’s commitment to customer satisfaction and loyalty, which is the predicting factor for success in all SaaS companies today. Offering a platform that is easy for power finance users and business users alike has enabled Adaptive Insights to expand their reach in organizations of all sizes and represents a tremendous opportunity for the company moving forward.”