Strong Q2 Adds to Record Momentum and Enterprise Success in 2014
PALO ALTO, Calif. – July 10, 2014 – Adaptive Insights, the worldwide leader in cloud business analytics for the biggest brands and the hottest companies, announced record second quarter results for 2014, with 109% growth in year over year new software bookings for the quarter, larger deal sizes, and hundreds of new enterprise, global, and high-growth customers in the first half of 2014. Notable new Adaptive customers in Q2 include The Jacksonville Jaguars, The Country Music Association, DHL, PayLess Drug, AAA Mid-Atlantic, Maple Leaf Sports Entertainment, Weyerhaeuser, Shutterstock, Heidrick & Struggles, San Francisco Opera, Frost & Sullivan, Radio Shack, and Warner Bros. Home Entertainment Group.
Adaptive’s continued high growth brings the company’s customer base to well over 2,200 active customers, representing 5x more customers than any other cloud CPM competitor. And the announcement follows closely on the heels of Adaptive Live 2014, the company’s annual global user conference in May, which attracted nearly 1,000 attendees from Adaptive’s customer base in 85 countries around the world.
Adaptive is helping financial and operational leaders at thousands of organizations manage with greater speed, intelligence and control, enabling them to develop and execute strategies that accelerate growth and drive success. Adaptive helps businesses make better, more informed decisions in a faster timeframe. The Adaptive Suite delivers unparalleled time and resource efficiencies, enabling 50-70% reduction in time and effort spent on budgeting, planning, consolidation and analytics, and more than 70% cost efficiencies over legacy solutions. And Adaptive products engage and equip everyone across the organization to collaborate more effectively.
“We are seeing a more rapid pace of Adaptive adoption from on-premise legacy systems that can’t practically keep up with the pace of business,” said John Herr, CEO of Adaptive Insights. “We’re used by the world’s leading enterprises for the most demanding needs – and they’re saving millions and running faster than they ever were as a result. We complement, extend, or replace existing CPM investments across the enterprise.”
Along with continued customer and global growth, Adaptive was honored with a CODIE Award for the Best Cloud Application, and a Best Places to Work award by the Silicon Valley Business Journal. Adaptive executives also earned accolades as an Ernst & Young Entrepreneur of the Year semi-finalist for Adaptive founder and president Rob Hull, and a CRN Channel Chief award for Adaptive Senior Vice President of International Sales and Global Channels Carolee Gearhart. Independent analyst reports across the board repeatedly rank Adaptive Insights No. 1 in customer satisfaction and user experience among cloud BI & CPM vendors.
About Adaptive Insights
Adaptive Insights is the worldwide leader in cloud-based business and financial analytics solutions for companies and nonprofits of all sizes. The company’s software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Insights enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Insights is used by over 2,000 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the #1 fastest growing cloud business analytics and CPM software company on the Deloitte Technology Fast 500™ list; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 85 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with worldwide partners including Armanino, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Insights as the NetSuite Financial Planning Module. Adaptive Insights is headquartered in Palo Alto, Calif. and is funded by Bessemer Venture Partners (BVP), Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.