Tops 3,000 global customers in rapidly growing cloud CPM market
Adaptive Insights, the leader in cloud corporate performance management (CPM) for the biggest brands and the fastest-growing companies, today announced another record quarter, capping a year of corporate, product, and customer milestones for the high-growth company. Performance for Q4 2015 continued the company's strong momentum in the cloud CPM market, ending the year with 50 percent+ year-over-year (YoY) growth in total annual recurring revenue (ARR) bookings. As part of a broader leadership expansion plan, the company appointed a new CFO, Jim Johnson, former CFO of TIBCO Software and Jasper Software. It also appointed new board member Mark Templeton, former CEO of mobile workspace provider Citrix (NASDAQ: CTXS).
With market share expanding across enterprise and midsize company categories, Adaptive Insights now has over 3,000 customers, more than three times the customers of all other cloud CPM competitors combined. Additions to the company's global customer list in Q4 2015 include Applied Micro, BDO Canada, Cal Poly San Luis Obispo, Epcor Utilities, Pei Wei Asian Diner, P.F. Chang's China Bistro, Planned Parenthood Federation of America, Sirius Decisions, The University of Edinburgh – Accommodation Services, U.C. Davis Office of Research, and Young Presidents Organisation.
"Adaptive Insights has consistently shown strong growth, and this past year represents a milestone one as the company significantly increased its enterprise customer base," said Kevin Dobbs, CEO at SaaS research and consulting firm Montclare. "As a pioneer in the cloud CPM space, they enable real-time access to business critical insights, which contributed to Adaptive Insights' #16 rank on the MontclareSaaS 250, which showcases the most successful SaaS companies in the world."
Throughout 2015, the company had significant corporate, product, customer, and partner achievements, including hiring new CEO Tom Bogan; raising $75M in venture funding; launching a new Adaptive Revenue Solution; becoming a Workday certified partner; and receiving top rankings for product/services scores across multiple use cases in the Gartner Critical Capabilities report.
"Closing out the most successful year in our history, it is clear that cloud CPM solutions are enabling finance teams of all sizes and across all industries to inform their business," said Tom Bogan, CEO of Adaptive Insights. "Looking ahead, we anticipate continued demand, particularly in the enterprise where cloud solutions are replacing on-premises software. As a result, we are scaling our global teams and operations to meet this demand and move into our next phase of growth."
Adaptive Insights continues its corporate and industry leadership with key milestones, including:
- Industry recognition. Adaptive Insights' was named to the 2015 Deloitte Fast 500 Technology list, which recognises high-growth companies, for the fifth consecutive year. Adaptive Insights is the only cloud CPM vendor recognised and a record 20 percent of the list are Adaptive Suite customers
- Strong international growth. Q4 2015 sales span 35 countries, underscoring continued global expansion. Key international customers include eClerx Services (India), Gulf Finance Corporation (Dubai), Hedeselskabet (Denmark), Latin American Caribbean Internet Address Registry (LACNIC) (Uruguay), The Tax Institute (Australia), and William Reed Business Media (United Kingdom). The Nordics are a rapidly growing region, with 10 new customers in Q4 including Cxense (Norway) and HelvarMerca (Finland)
- Expanding partner network. Adaptive Insights experienced strong growth across its global partner network. In addition to becoming a Workday certified solutions partner, Adaptive Insights also expanded globally with new 19 new partners in six countries, including Canada, Singapore, and South America, among others
- Highest customer satisfaction. Continuing its leadership position in customer satisfaction rankings, Adaptive Insights achieved the number one position in end-user satisfaction in the Trust Radius Corporate Performance Management Software TrustMap report. The company's continued focus on delivering easy to use/easy to implement solutions drove a Q4 2015 100+ percent revenue renewal rate, including upsells