Anaplan, a company that was founded in a Yorkshire barn, now ranks among the rising stars of the tech sector after its valuation broke the $1bn barrier.
Anaplan has secured funding of $90m to help it grow. The company, which is now headquartered in Silicon Valley, will use the funds to meet global demand for its business planning platform. The latest round of funding was led by Premij Invest, supported by Baillie Gifford, Founders Circle Capital, and Harmony Partners, as well as Anaplan’s current investors, which include Brookside Capital.
The company also announced the appointment of James Budge, as its chief financial officer. Mr Budge has worked in Silicon Valley for more than 20 years.
He recently led the global finance, corporate development, legal, human resources and IT department at the tech company Genesys.
Anaplan’s technology helps companies to plan sales and compile forecasts.
Anaplan, which was established by entrepreneur Michael Gould in York, hopes to replace Excel as the most popular financial and planning tool used by large global businesses. Anaplan still employs 70 staff in York, who are involved in product development. Mr Budge said: “With the significant momentum the company has achieved to date, I am delighted to join Anaplan to oversee our continued growth.”
Fred Laluyaux, Anaplan’s president and CEO, said the company was helping executives who had been using technologies that were designed more than 30 years ago.
He added: “They are deploying Anaplan into every area of their business, (including) finance, sales, marketing, HR, supply chain, operations, and IT..Anaplan’s platform and apps enable a radically new approach to how businesses plan, execute, (and) simulate changes, and rapidly correct their operations.”