Anaplan Gets $100 Million in Round Led by DFJ To Expand

Anaplan Inc., a provider of Web-based business-planning tools, raised $100 million in a round of financing led by Draper Fisher Jurvetson to expand its business.

Brookside Capital, Sands Capital Management and Workday Inc., as well as existing investors including Granite Ventures and Inc., participated in the round, the company said in a statement today.

Anaplan, which delivers cloud-based software for companies to manage and plan their sales, operations and finance, is the latest technology startup to raise more than $100 million in a financing round. Favorable market conditions have led to multibillion-dollar valuations as hedge funds, private equity and corporate investors compete with venture capital firms to buy stakes in high-growth companies before they go public.

“As Salesforce has become the leading platform for customer relationship management and Workday for human resources and talent management, we believe Anaplan is poised to become the category leader and platform of choice for cloud-based planning and execution across the enterprise,” Randy Glein, a Draper Fisher Jurvetson managing director who is joining Anaplan’s board, said in a statement.

Anaplan, started by Michael Gould in the U.K. in 2007, has 200 clients, including Procter & Gamble Co., Facebook Inc., Kimberly Clark Corp. and Palo Alto Networks Inc. Customers are charged annually based on usage. Anaplan has also partnered with Workday, a provider of cloud-based human resources tools, to offer workforce and finance planning tools.

Business Performance

“We tripled bookings and doubled the size of the company in the last twelve months and we are on track to do the same in the next twelve months,” said Fred Laluyaux, Anaplan’s chief executive officer. He declined to disclose a valuation for the company.

Anaplan tripled sales to about $40 million in 2013 and is generating $10 million in monthly revenue so far this year, the company said.

San Francisco-based Anaplan, which has raised $150 million to date, will use the funds to expand its engineering staff and sales force to nine countries outside the U.S., doubling headcount to 400, Laluyaux said.

Laluyaux said Anaplan’s services also complement cloud services from and compete with Oracle Corp., SAP AG and International Business Machines Corp.

(An earlier version of this story corrected the number of clients in the fifth paragraph.)

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