Business modeling and planning software company, Anaplan has raised USD 100 million in Series D round at a valuation of USD 1 billion, reported Business Insider’s Julie Bort. The investment was led by VC DFJ Growth with participation from two cloud based companies, viz. WorkDay and existing investor salesforce.com.
The new funds will be used for scale up its infrastructure, further international expansion and ramp up product development. The company has introduced Anaplan Hub which will be launched this summer, a marketplace which contains pre-designed planning models that enable the Anaplan users to hit the ground running.
Launched in 2006, it is a venture of Guy Haddleton and Michael Gould. Till date, including this round, the company has secured a total funding of USD 144.40 million. The company has raised recent investment in two rounds viz. Series B (USD 11.40 million, Jan 2012) and Series C (USD 33 million, March 2013).
California based Anaplan, has opened offices in France, UK, Sweden and Singapore, last year. It provides a sophisticated financial planning and modeling tool. This tool is easy to use as a spreadsheet and does things which Excel can’t do.
“The Workday investment happened because both companies share a lot of customers. They were working to make their cloud products work better together when “Workday learned that we were doing our D round,” said Frederic Laluyaux, CEO of Anaplan.
WorkDay is known as “an HR cloud “ and Salesforce.com is called “ sales cloud “. Anaplan wants to move towards both concepts and to innovate “a Planning cloud “. The company wants to apply same scope of vision in the future, Laluyaux said.
After developing a cloud based planning app, the company ensure that it will help customers to build better model because as a cloud service, they have no need to worry about the code behind it.
To contact the author, email at email@example.com