Workday Adaptive Planning
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
[
edit
]
Early Years
[
edit
]
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
.
2012 - 2020
[
edit
]
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]
Later on, in June, 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, the company surpassed $100 million in annualized revenue.
[9]
In April 2018, the company announced it added 500 net new customers in 2018, bringing Adaptive Insights' total
customer base
to more than 3,700 customers worldwide in FY2018.
[10]
In August,
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
[
edit
]
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
[
edit
]
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.
[13]
See also
[
edit
]
References
[
edit
]
- ^
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
.
- ^
a
b
Brooks, Steve (27 April 2018).
"Salut Adaptive Insights"
.
Enterprise Times
. Retrieved
3 June
2024
.