Anaplan's value hits $1.4bn following funding

Anaplan, founded by York entrepreneur Michael Gould and now based in California, plans to use the funds to scale the sales and target further international expansion.

Anaplan, already a tech unicorn prior to the funding agreement, announced a $60m Series F funding round.

Premji Invest led the round along with Salesforce Ventures, Top Tier Capital Partners, and other existing investors.

This latest round brings the total capital raised by Anaplan to $300m; the current round now values the company at $1.4bn.

The company has become the worldwide leader in cloud-based, enterprise-wide planning and modelling. It is aiming to unseat spreadsheets as the financial and planning tool of choice among global businesses.

The company is now headquartered in San Francisco with global offices on four continents and a customer base in more than 20 countries.

Anaplan still has a base in York.

Anaplan, which was recently included on Deloitte’s 2017 Technology Fast 500 list of fastest-growing companies in North America, plans to use the funds to scale the sales and customer success organisations, including partner enablement activities, to meet the growing worldwide demand for the Anaplan connected planning platform.

This includes expanding internationally, focusing on key lines of business, and growing the development team to accelerate product evolution and innovation.

“Companies around the world are using Anaplan to connect data, people, and plans,” said Sandesh Patnam, partner, Premji Invest.

“We are excited to lead another investment round because we have seen how the Anaplan platform facilitates better decision-making across organisa- tions.”

“As we continue to scale, we are excited to have this additional support from our investors,” said Frank Calderoni, president and CEO of Anaplan.

“This funding is going to help accelerate our ability to explore new opportunities, grow our partner and customer community, and develop new technologies that will continue to build upon our world-class connected planning platform.”

Over the past year, Anaplan was recognised as a Leader in the 2017 Gartner Magic Quadrant for Sales Performance Management and the 2017 Gartner Magic Quadrant for Cloud Strategic Corporate Performance Management.

The company also announced strong momentum across multiple lines of business and expanded its footprint globally to accommodate growth.

Anaplan has doubled its number of employees to more than 500 worldwide, located in 15 offices across 11 countries.