Type Private Products Adaptive Suite Chairperson Robert S. Hull CFO Jim Johnson Chief product officer Bhaskar Himatsingka | Founded 2003 CEO Tom Bogan Headquarters Palo Alto Chief marketing officer Michael A. Schmitt | |
Industry Software, CPM, Analytics Founder Robert S. Hull, Richard L. Dellinger Website www.adaptiveinsights.com VP Scott Parsons (North America Sales) Profiles | ||
Budgeting best practices with adaptive insights
Adaptive Insights, Inc., formerly Adaptive Planning, Inc., is a privately held software as a service company headquartered in Palo Alto, California founded in 2003. Its software allows companies to collaboratively plan and model, access real-time analytics, streamline financial reporting, and accelerate financial consolidation.
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History
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. The company was funded in late 2003 and incorporated in Delaware as Visus Technology and then renamed to Adaptive Planning. It was incubated at Onset Ventures in Menlo Park, California. 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 funding, raising $45 million and added salesforce.com as a backer.
In February 2014, Adaptive Planning was renamed Adaptive Insights and released a new version of the software with an updated user interface.
In June 2015 the company reported another investment round of $75 million with several investors, including Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, and others.
Product
Adaptive covers the planning, consolidation, analytics and reporting functions with its Adaptive Suite of tools.
The application is built on an In-memory database, has an in-browser user interface similar to that of a spreadsheet, and 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.
Awards & recognition
Adaptive Insights was ranked #85 (Top 10 in Silicon Valley) on Deloitte's 2011 Technology Fast 500 list of the fastest growing companies in technology in North America.
In 2011, Adaptive Insights was named one of the "Top 40 Vendors to Watch" by Information Management.
Adaptive Insights was rated first in customer satisfaction in a study conducted by Gartner which asked customers to rate their corporate performance management vendors.
In 2014 Gartner included Adaptive Insights in the Magic Quadrant for Corporate Performance Management (CPM) applications for the first time. The company entered in Gartner's Visionary quadrant and has remained there in 2015. In 2016 Gartner split the CPM market research document and introduced a "Strategic CPM" segmentation where Adaptive Insights entered the Leaders quadrant.
In 2015, the company's Adaptive Suite won a CODiE award, named Best Software-as-a-Service.
In 2016, Adaptive Insights was named to the first ever Forbes Cloud 100 list and named to the Deloitte Technology Fast 500 list for the sixth consecutive year.
The company was also named a Leader in the Gartner Magic Quadrant for strategic Corporate Performance Management (CPM), the only cloud-only vendor to be named to the Leaders quadrant and named a Leader in the Forrester Wave: Enterprise Performance Management, Q4 2016.
Partners
In 2009, Adaptive Insights partnered with NetSuite, Inc. resulting in NetSuite reselling Adaptive Planning software as NetSuite Financial Planning.
Adaptive Insights has partners in Europe, Asia, and the Americas.