Planful Announces Record Growth in First Half of 2021

REDWOOD CITY, Calif., Aug. 12, 2021 /PRNewswire/ -- Planful Inc., the pioneer of financial planning & analysis (FP&A) and consolidations cloud software for finance and accounting professionals, today announced that the company has achieved explosive growth in the first half of 2021, marking the best start to any year in the company's history. Continued increases in demand from the Office of the CFO, as well as excellent corporate execution across company-wide transformation initiatives, resulted in a record number of customers acquired in Q2.

In the first half of 2021, Planful averaged one new customer a day, including brands such as Tile, Inc.; ADA Health GmbH; Alladapt; Immunotherapeutics; FIGS; Envoy; Zipline Logistics; Amcor; SPG Global Specialists; and Quantexa.

"Our results in H1 are a testament to the hard work our team is putting into our growth transformation, achieving record growth and customer acquisition rates, and strong expansion in our global partner ecosystem," said Grant Halloran, Chief Executive Officer, Planful. "For the last two years, we've been on an expansive, transformative journey, delivering product innovations and operational improvements that bring better, faster planning and decision-making capabilities to our customers. Our results and momentum tell us we are well-positioned for the next phase of our mission."

Highlights from 2021 thus far include:

• H1 2021 subscription bookings growth up 61% over H1 2020 and up 51% over H1 2019
• In Q2, posted highest ever number of new customers acquired in a quarter, beating the previous record by 45%
• Grew global employee base to over 360, hiring 105 new employees in the first half of 2021
• Further strengthened the leadership group, including Allison Searle as the new Senior Vice President of International Sales, based in London
• More than doubled the number of international customers, in particular in the UK and Europe
• Launched Predict: Signals, the first product release in the Planful Predict portfolio, a suite of native artificial intelligence and machine learning applications
• Tripled the size of the Planful reseller community
• Became one of the first complete planning and consolidations cloud platforms that is integrated with Microsoft and available as part of the Dynamics 365 and Business Central product lines
• Announced a partnership with Acumatica, a leading global cloud ERP company
• Established a strategic partnership with Trintech, a leading global provider of financial close solutions
• Announced Perform '21, the company's annual user conference, will be held virtually September 14-15

CloudMargin, the single-instance collateral management platform built to drive efficiency and reduce risk and costs for the world's banks, buy-side institutions, outsourcers, and corporates, is using Planful to accelerate digital transformation within its company. Ben Blake, Financial Controller at CloudMargin, said: "The Planful platform has shifted my role from processing information to being able to analyze and add value to that information. I can now add more insight rather than just crunching numbers. A task that would normally take hours is now done within minutes."

Robert Kugel, Senior Vice President and Research Director at Ventana Research, said: "Because of rapid changes in the outlook for economies and markets over the past 18 months, executives have looked to the finance organization to enable them to respond quickly with intelligence. As a result, there is strong demand for Continuous Planning software that streamlines business planning and financial budgeting to provide better forward visibility with scenario planning, to support timely and coordinated actions across the company. Today's market momentum is just a start, as more companies use technology to achieve consistently better results through action-oriented planning processes."

Planful's user conference, Perform '21, will be held virtually September 14-15, with more than 2,000 attendees engaging in cutting-edge presentations and content about modernizing finance and accounting processes.

About Planful
Planful (formerly Host Analytics) is the pioneer of financial planning & analysis (FP&A) and consolidations cloud software. The Planful platform is used by the Office of the CFO around the globe to streamline business-wide planning, budgeting, consolidations, reporting, and visual analytics. More than 900 customers, including Boston Red Sox, Del Monte, TGI Friday's, and 23andMe, rely on Planful to accelerate cycle times, increase productivity, and improve accuracy across the end-to-end FP&A process. Planful is a private company backed by Vector Capital, a leading global private equity firm. Learn more at www.planful.com.

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