Meritech Capital Leads $30 Million Investment In Anaplan
Top late-stage venture capital firm leads series C round and endorses cloud-based planning as transformative business technology
SAN FRANCISCO – March 5, 2013 – Anaplan, the fastest-growing provider of cloud-based modeling and planning solutions for finance and operations, today announced that it has closed $30 million in new venture financing. Meritech Capital led the round, along with existing investors Granite Ventures and Shasta Ventures. The new funds will enable Anaplan to fuel its aggressive expansion plans, including recently opened offices in the UK, France, Sweden and Singapore, to build new data centers across the world and to accelerate the development of its disruptive business-user centric planning and modeling platform.
“The enterprise planning and modeling market has been under-innovated for 10 years and is ready to be profoundly disrupted. Anaplan is that long-awaited innovation,” said Anaplan CEO Fred Laluyaux.
With its patented HyperBlock technology, Anaplan delivers a game-changing platform that is used every day by some of the largest companies in the world, including McAfee, Kimberly-Clark Eastern Europe, and Pandora. These top-performing companies leverage the immediacy, power, and connectivity of Anaplan across many industries and use cases, including long-range and financial planning, territory and quota management, strategic workforce planning, and IT performance management.
“There is a strong and growing demand in the marketplace for Anaplan’s cloud-based modeling and planning platform, and the company’s growth in the last year has been outstanding,” said Rob Ward, Managing Director at Meritech. “We made a significant capital commitment to Anaplan because they are among a new breed of vendors that is challenging the status quo of business technology. Like the rest of our portfolio, Anaplan is one of the best late-stage companies and is already a key player in its space.”
Anaplan has seen demand for its innovative cloud software grow rapidly, as new customers continue to take advantage of its solutions to model and plan their businesses. In 2012, the company grew its customer base by 500 percent and revenues by 800 percent across the globe.
“Meritech’s backing of Anaplan confirms the maturity of our technology and represents a strong vote of confidence in our vision. The marketplace is thirsting for an alternative and Anaplan is about providing that alternative. If you listen to our customers, we are well on our way,” said Laluyaux.
Anaplan is a cloud-based, in-memory modeling and planning platform for finance, sales, and operations. Its applications enable business users across organizations 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.
Anaplan and its partners have introduced a series of packages for finance, marketing, operations, human resources, as well as a complete sales performance management application suite, which includes quota, territory and commissions management, real-time quote, and price optimization.
Anaplan is funded by Granite Ventures, Shasta Ventures and now, Meritech. Anaplan was awarded the Gartner Cool Vendor Award in 2012 and Ventana Research Technology Operational Innovation Award for Sales Management in 2012.
About Meritech Capital
Meritech Capital Partners is one of the premier providers of late-stage venture capital to category-defining private technology companies and one of the top performing venture funds in the entire industry. With over $2.6 billion under management, Meritech invests in companies with proven and differentiated technology, massive market opportunities, accelerating revenue and experienced management teams. With one of the most prominent venture portfolios Meritech has a wealth of experience providing guidance on issues rapidly scaling companies commonly face including senior management hiring and compensation, IPO market timing and positioning, and M&A negotiating strategies. Meritech investments include such notable companies as Acclarent, BigFix, Broadsoft, Box, Cloudera, Cornerstone OnDemand, Evernote, Facebook, Fortinet, Greenplum, Lynda.com, Netezza, NetSuite, PopCap, Presidio, Riverbed, Ruckus Wireless, Salesforce.com, Sourcefire, SpringSource, Tableau Software, TeleAtlas, Yammer, Zipcar and Zulily. For more information visit www.meritechcapital.com.