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
Early Years
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
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, 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 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.[8] 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
The Workday Adaptive Planning application is a cloud-based software app designed to help organizations with financial planning, budgeting, forecasting, and reporting. It is a part of the broader Workday suite of enterprise applications, which includes solutions for human resources, finance, sales, operations, and HR in their planning processes. The app covers the planning, consolidation, analytics, and reporting functions with its Business Planning Cloud.[9]
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 is currently a member of the SuiteCloud Developer Network. The company also integrates with other cloud ERP solutions from Sage Intacct, Microsoft, and others.[10]
Adaptive Insights partners with associates in Australia, Canada, Europe, India, Japan, New Zealand, the UK and the United States.[10]
See also
References
- ^ 1.0 1.1 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.
- ^ Moore, Ben (19 April 2018). "Adaptive Insights announces a stellar year for FY18". ChannelLife. Retrieved 3 June 2024.
- ^ Arrowsmith, Ranica (14 February 2018). "Adaptive Insights introduces Business Planning Cloud". Accounting Today. Retrieved 3 June 2024.
- ^ 10.0 10.1 Brooks, Steve (27 April 2018). "Salut Adaptive Insights". Enterprise Times. Retrieved 3 June 2024.