Total amount raised
$91.3 Million
Latest funding date
01/01/2022
Location
Planful has successfully raised funds over 10 rounds, with the latest being a Venture - Series Unknown. The company is backed by 10 investors, including DataPower Ventures and Employee Stock Option Fund.
Planful's platform offers comprehensive solutions for finance and accounting teams, leveraging AI-powered tools to enhance financial performance. Keep reading to explore the intricacies of Planful's fundraising journey and the investors backing this innovative platform.
What Is Planful?
Planful, based in Redwood City, California, operates in industries such as Analytics, Cloud Computing, Enterprise Software, Finance, FinTech, and SaaS. The company has a workforce of 251-500 employees and has been acquired by Vector Capital.
Planful offers a comprehensive financial performance management platform, leveraging AI to enhance financial processes. The platform is designed to unify business processes and provide instant, explainable insights, empowering teams to make confident decisions.
How Much Funding Has Planful Raised?
- Series A
- Amount Raised: USD 5,900,000
- Date: February 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their financial performance management platform.
- Series B
- Amount Raised: USD 8,650,000
- Date: May 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series C
- Amount Raised: USD 15,000,000
- Date: June 2010
- Lead Investors: NextWorld Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Debt Financing
- Amount Raised: USD 3,250,000
- Date: July 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses and product development.
- Series D
- Amount Raised: USD 17,000,000
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series Unknown
- Amount Raised: USD 16,500,000
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase customer acquisition.
- Series E
- Amount Raised: USD 25,000,000
- Date: November 2014
- Lead Investors: Centerview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance go-to-market capabilities and accelerate the product roadmap.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and product development.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Vector Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet the growing global demand for Planful's cloud-based FP&A solution.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue supporting the company's growth and innovation.
Total Amount Raised: USD 91,300,000. Current Valuation: Not publicly disclosed.
Key Investors
- Vector Capital
- Details: Vector Capital is a global private equity firm specializing in transformational investments in established technology businesses. They are the majority shareholder in Planful.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: Not publicly disclosed
- Centerview Capital
- Details: Centerview Capital is a private equity firm that focuses on investments in the consumer and technology sectors. They led Planful's Series E round.
- Investment Focus Areas: Consumer, Technology, Healthcare
- Notable Investments: Not publicly disclosed
- StarVest Partners
- Details: StarVest Partners is a venture capital firm that invests in technology-enabled business services. They participated in Planful's equity round.
- Investment Focus Areas: Technology, Business Services, SaaS
- Notable Investments: Not publicly disclosed
- Monroe Capital
- Details: Monroe Capital is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. They participated in Planful's equity round.
- Investment Focus Areas: Direct Lending, Private Credit, Opportunistic Investing
- Notable Investments: Not publicly disclosed
- NextWorld Capital
- Details: NextWorld Capital is a venture capital firm that invests in enterprise technology companies. They led Planful's Series C round.
- Investment Focus Areas: Enterprise Technology, SaaS, Cloud Computing
- Notable Investments: Not publicly disclosed
What's Next for Planful?
Planful is poised to capitalize on the growing global demand for cloud-based FP&A solutions. With a focus on expanding their team and go-to-market capabilities, the company aims to accelerate its product roadmap and leverage its Continuous Planning approach to enhance agility and decision-making.
Future fundraising opportunities appear promising, given the backing of major investors like Vector Capital, StarVest Partners, and Monroe Capital. These funds will likely support further expansion and product development, positioning Planful to meet increasing market demands.
However, challenges such as competition from other FP&A solution providers and ensuring seamless integration of new technologies may arise. Maintaining innovation and product development pace will be crucial for Planful to stay ahead in the market.
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