joins Anaplan’s Series C round late to take VC takings over $50 million

Anaplan has added to the $30 million it secured in March by securing an extra $3 million as part of its Series C round.

Cloud-based modelling and planning products business Anaplan has taken its venture capital funding to over $50 million (£32.9 million) by extending the amount its Series C round has netted., and a range of other private investors, are joining the investment party and will now sit alongside existing backers Meritech Capital, Granite Ventures and Shasta Ventures.

The additional funds, the company says, will allow it to fuel its ‘aggressive’ global expansion plans, which includes a new UK office, and speed up the development of its planning and modelling technology.

Anaplan provides cloud-based modelling and planning products for sales, operations and finance. It is headquartered in San Francisco and has its UK base in Berkshire as well as a Development Office in York.

The business began its funding efforts with a Series A round worth approximately $6.1 million. A Series B transaction in January 2012 then added to that figure by $11.4 million. The first stage of its Series C was closed at the beginning of March and brought in $30 million.

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New backer, which provides business software, has now closed three investments in 2013 – to go with the eight it completed during 2012 in companies including ZenPayroll, Sauce Labs and Flotype.

Alongside its newly-opened office in Berkshire, Anaplan has also set up locations in France, Sweden and Singapore and will use its latest round to support these new sites.

It also plans to build new data centres around the world and speed up the development of its planning and modelling platform.

Fred Allele, CEO of Anaplan, comments, ‘This additional backing by strategic investors further validates our position in the market and provides a foundation for deeper partnership.

‘It confirms the business value of our technology and serves as further proof that we’re quickly becoming a major player in the enterprise cloud.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

Related Topics

Series C funding