How Much Did Planful Raise? Funding & Key Investors

Planful has successfully raised funds through a Venture - Series Unknown round, with its last funding round closing on January 1, 2022. The company has been acquired by Vector Capital, which is one of its ten investors.

Keep reading to explore the intricacies of Planful's fundraising journey and the investors backing this innovative financial performance management platform.

What Is Planful?

Planful, founded in 2001 by Jim Eberlin and Sreedhar Peddineni, is headquartered in Redwood City, California. The company specializes in financial performance management software, offering a comprehensive platform for finance and accounting teams.

Planful's platform streamlines business-wide planning, budgeting, consolidations, reporting, and visual analytics. It includes products like Planful Predict, Financial Close and Consolidation, Workforce Planning, Planful for Marketing, and Spotlight for Microsoft Office.

With a workforce of 251-500 employees, Planful aims to eliminate manual processes and provide AI-driven insights to guide business growth confidently. The company is dedicated to being the undisputed champion in financial performance management.

How Much Funding Has Planful Raised?

1. Series A
   • Amount Raised: $5.9M
   • Date: February 2008
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial product and establish a market presence.
2. Series B
   • Amount Raised: $8.7M
   • Date: May 2009
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and accelerate product development.
3. Series C
   • Amount Raised: $15M
   • Date: June 2010
   • Lead Investors: NextWorld Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance marketing efforts.
4. Debt Financing
   • Amount Raised: $3.3M
   • Date: July 2012
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support working capital needs and operational expenses.
5. Series D
   • Amount Raised: $17M
   • Date: January 2013
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To drive product innovation and expand market reach.
6. Venture Round
   • Amount Raised: $16.5M
   • Date: April 2013
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the platform and enhance customer support.
7. Series E
   • Amount Raised: $25M
   • Date: November 2014
   • Lead Investors: Centerview Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand globally and invest in new product features.
8. Venture Round
   • 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 ongoing growth and operational needs.
9. Venture Round
   • Amount Raised: Not publicly disclosed
   • Date: June 2020
   • Lead Investors: Vector Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To meet increasing demand for cloud-based FP&A solutions.
10. Venture Round
    • Amount Raised: Not publicly disclosed
    • Date: January 2022
    • Lead Investors: DataPower Ventures, Vector Capital
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support growth, product innovations, and global expansion.

Total Amount Raised: $91.4M

Current Valuation: Not publicly disclosed

Key Investors

• Vector Capital
  • Details: Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. They acquired Planful on December 13, 2018.
  • Investment Focus Areas: Technology, software, internet, and digital media.
  • Notable Investments: WatchGuard Technologies, Cambium Networks, Saba Software.
• Centerview Capital
  • Details: Centerview Capital is a private equity firm that focuses on investing in middle-market companies. They led Planful's Series E round in November 2014.
  • Investment Focus Areas: Consumer, technology, healthcare.
  • Notable Investments: Nielsen, Advantage Solutions, Big Heart Pet Brands.
• StarVest Partners
  • Details: StarVest Partners is a venture capital firm that invests in technology-enabled business services. They are an existing investor in Planful.
  • Investment Focus Areas: SaaS, data and analytics, e-commerce.
  • Notable Investments: MessageOne, iCrossing, Veracode.
• Monroe Capital
  • Details: Monroe Capital is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. They are an existing investor in Planful.
  • Investment Focus Areas: Technology, healthcare, specialty finance.
  • 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 in June 2010.
  • Investment Focus Areas: Enterprise software, cloud computing, big data.
  • Notable Investments: Zuora, DataStax, ProsperWorks.

What's Next for Planful?

Planful is poised to capitalize on the growing global demand for cloud-based FP&A solutions. With over 800 customers, including notable names like Bose and the Boston Red Sox, the company is well-positioned to expand its market presence. The increased interest in continuous planning and the need for businesses to modernize their back offices present significant growth opportunities.

Future fundraising efforts could be bolstered by the involvement of prominent investors like Vector Capital, StarVest Partners, and Monroe Capital. These firms' support suggests potential for additional funding rounds to accelerate product development and expand go-to-market capabilities.

However, Planful may face challenges such as competition from other FP&A solution providers and the need to adapt to rapidly changing market conditions. Ensuring seamless integration across various business units will also be crucial for maintaining its competitive edge.

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