Anaplan, whose web-based sales- and financial-planning applications rely on in-memory database technology, plans to announce Tuesday that it has closed $30 million in Series C venture funding, and an additional $3 million will be announced later as part of the Series C round.
Anaplan will use its new funding to expand its customer base, improve its products and build out more data centers, said Fred Lalayaux, Anaplan’s president and CEO. Currently Anaplan runs one data center in Virginia and one in the San Francisco Bay Area. More will come online later this year in Amsterdam, Las Vegas and Singapore, he said.
Lalayaux acknowledges an abundance of competition. But he believes the company can deliver answers to simple business questions more quickly than in-memory databases from legacy vendors such as Oracle and SAP, while also providing employees with fresh information more quickly than Microsoft spreadsheets and databases. And smaller cloud-based financial-planning companies, such as Adaptive and Host Analytics, can’t predict the implications of complex problems as well as Anaplan’s software, he said.
Anaplan has racked up around 60 customers, including McAfee, Pandora and Salesforce. The new funding could help Anaplan chip away at still more of the market.
As Anaplan expands its own infrastructure to support its Software-as-a-Service (SaaS) business, it has begun talking about building a custom appliance for its own data centers and possibly for clients to have on premise as well, Lalayaux said. On the software end, he said, an application exchange for users to share among themselves is in the works.
Meritech Capital Partners led the new investment, and previous investors Granite Ventures and Shasta Ventures contributed as well. With the new funding, Anaplan has raised a total of around $49 million.