Cloud corporate performance management company, Adaptive Insights, has announced that it has secured $75 million in funding to accelerate product innovation roadmap and global expansion, which includes the A/NZ region.
New investor, JMI Equity, joins the round along with existing investors, Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, Monitor Ventures, and Information Venture Partners.
JMI Equity general partner, Peter Arrowsmith, who will also be joining Adaptive as a board observer, said the investment aims to power the new era of corporate performance management for modern finance leaders.
“Financial and operational management is the cornerstone for every successful company. Adaptive aims to lead this market through tremendous product innovation, strong executive leadership, and a rapidly growing, fanatical customer base. These characteristics define high performing SaaS companies,” he said.
Adaptive Insights CEO, Tom Bogan, said the company will be working towards that direction as businesses will soon be looking to real-time data and powerful insights for more visibility into their companies.
“CFOs are increasingly taking centre stage in the strategy and direction of their organisations and looking for the right technology to provide real-time data and powerful insights to gain a 360-degree view of their business,” he said.
In order to support Adaptive Insights’ growth and customer success, the company also recently appointed Fintan Diviney in a newly created role as A/NZ area vice-president.