Workday Adaptive Planning
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| Company type | Public |
|---|---|
| Industry | Software, CPM, Analytics |
| Founded | 2003 |
| Founder | Robert S. Hull, Richard L. Dellinger |
| Headquarters | , |
Key people | Tom Bogan, CEO |
| Products | Cloud-based Enterprise Planning Management (EPM) software solutions, In-memory technology platform, Company-wide business planning, and Built-in analytics |
Number of employees | 461 |
| Parent | Workday, Inc. |
| Website | Official website |
Workday Adaptive Planning, formerly Adaptive Insights, is a software as a service company founded in 2003 and headquartered in Palo Alto, California . The company was acquired by Workday, Inc. in a $1.55 billion deal completed in August 2018.[1]
History
In 2003, Robert S. Hull and Richard L. Dellinger co-founded Adaptive Planning to market enterprise budgeting, forecasting, and reporting software as an alternative to spreadsheet-based planning or larger on-premises software. Adaptive Planning was an early user of the software as a service (SaaS) model for business intelligence and corporate performance management. In 2003, it was incorporated in Delaware as Visus Technology, renamed as Adaptive Planning.[2] It was incubated at Onset Ventures in Menlo Park, California.
In September 2012 the company acquired the Louisville, Colorado based company myDIALS for an undisclosed amount. By October 2013, Adaptive Planning held a fourth round of fundraising, totaling $45 million. The company also added salesforce.com as a backer.[3]
In February 2014, Adaptive Planning was renamed Adaptive Insights and released a new version of the software with an updated user interface.[4]
In January 2015, the company appointed Citrix Chairman Tom Bogan as CEO.[5][6]
In June 2015, the company reported another investment round of $75 million with several investors, including Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, Information Venture Partners, and others.[7]
In June 2016, Adaptive Insights appeared in the Leaders Quadrant of a Gartner Strategic CPM report and officially marked the first time a cloud-only vendor was in the leaders section of the Strategic CPM Magic Quadrant.[8] In 2017, Gartner included only cloud companies in its 2017 Magic Quadrant for Cloud Strategic Corporate Performance Management Solutions report. Adaptive Insights was placed highest in the Leader's quadrant for ability to execute.[citation needed]
In December 2017, the company surpassed $100 million in annualized revenue,[9] an accomplishment that fewer than 1% of software companies achieve. In April 2018, the company announced it added 500 net new customers in FY2018, bringing Adaptive Insights' total customer base to more than 3,700 customers worldwide in FY2018.[10]
In August 2018, Workday completed the acquisition of Adaptive Insights, announcing that the company would operate as Adaptive Insights, a Workday company.[1]
In May 2020, Adaptive Insights rebranded once again and was renamed Workday Adaptive Planning.
Product
Workday Adaptive Planning covers the planning, consolidation, analytics, and reporting functions with its Business Planning Cloud.[11]
The company offers Adaptive Insights for Finance, Adaptive Insights for Sales,[12] and Adaptive Insights for Workforce planning,[11] as well as the capability to flexibly model virtually any kind of functional use, such as project, capacity, and operational planning.
The application is built on an In-memory database, has an in-browser user interface similar to that of a spreadsheet, and has the drag-and-drop characteristics of a web-based consumer application. Adaptive Insights automates consolidations and integration of data from other systems and enables collaboration and real-time updates via its on-demand SaaS-based model.
Partners
In 2009, Adaptive Insights partnered with NetSuite, Inc. and currently is a member of the SuiteCloud Developer Network. The company also integrates with other cloud ERP solutions from Sage Intacct, Microsoft, and others.[13]
Adaptive Insights has partners in Australia, Canada, Europe, India, Japan, New Zealand, the UK and the United States.[14]
See also
References
- ^ a b Lunden, Ingrid (11 June 2018). "Workday acquires financial modelling startup Adaptive Insights for $1.55B". Tech Cruch. Retrieved 3 June 2023.
- ^ SEC.gov (17 May 2018). "UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM S-1 REGISTRATION STATEMENT: ADAPTIVE INSIGHTS, INC". www.sec.gov. Retrieved 3 June 2024.
- ^ Primack, Dan. "Venture capital deals". Forbes. Retrieved 3 June 2024.
- ^ Robb, Drew (5 February 2014). "Adaptive Planning Gets New Brand". EnterpriseAppsToday. Retrieved 3 June 2024.
- ^ Kim, Eugene (13 Jan 2015). "Why The 63-Year-Old Chairman Of A $10 Billion Company Is Joining A Startup". Business Insider. Retrieved 3 June 2024.
- ^ Clancy, Heather (13 January 2015). "Citrix chairman joins cloud financials pioneer as CEO". Fortune. Retrieved 3 June 2024.
- ^ Lunden, Ingrid (30 June 2015). "Cloud Finance Intelligence Startup Adaptive Insights Gets $75M, Reportedly At A Unicorn Valuation". techcrunch.com. TechCrunch. Retrieved 3 June 2024.
- ^ "Adaptive Insights Labeled Leader in Corporate Performance Management". Workday.com. 2023. Retrieved 3 June 2024.
- ^ Baum, Margaret (20 April 2018). "Seasoned Silicon Valley exec leads Adaptive Insights across $100M mar". Bizjournals.com. Retrieved 3 June 2024.
- ^ Moore, Ben (19 April 2018). "Adaptive Insights announces a stellar year for FY18". ChannelLife. Retrieved 3 June 2024.
- ^ a b Arrowsmith, Ranica (14 February 2018). "Adaptive Insights introduces Business Planning Cloud". Accounting Today. Retrieved 3 June 2024.
- ^ Gillin, Paul (15 February 2015). "Adaptive Insights spreads out into business and sales planning". SiliconANGLE. Retrieved 3 June 2024.
- ^ "Salut Adaptive Insights - Enterprise Times". Enterprise Times. 2018-04-27. Retrieved 2018-04-30.
- ^ "Salut Adaptive Insights - Enterprise Times". Enterprise Times. 2018-04-27. Retrieved 2018-04-30.