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Acquisition Enhances Continuous Marketing Spend Mix Optimization and Streamlines Collaboration Between Finance and Marketing Teams
REDWOOD CITY, Calif., Sept. 15, 2022 /PRNewswire/ -- Planful Inc., the pioneer of financial performance management cloud software, today announced the acquisition of Plannuh, a leading marketing performance management cloud solution. With the addition of Plannuh, Planful now enables seamless collaboration between finance and marketing teams, and other business users. These capabilities give trailblazing CFOs and CMOs the tools they need to drive more opportunities for business growth across the organization.
Plannuh provides marketers with deep financial intelligence for all marketing activities. Marketers are able to course-correct campaign and activity investments in real-time to maximize ROI, while increasing visibility and collaboration with their Finance colleagues.
Planful's CEO Grant Halloran said: "Marketing is an increasingly important and large investment area for many businesses, yet there is huge friction in planning and tracking investments at granular levels. The Plannuh team has solved this problem in such an impressive way. We fell in love with the technology and the team and are delighted to welcome them all to Planful and our mission."
Because marketing investments need to be planned at campaign and activity levels, hundreds of thousands of marketing departments are in spreadsheet hell, making it near impossible to continuously optimize activities to drive higher ROI, and support Finance's needs for accurate spend, accruals, and results data. Plannuh overcomes these problems by enabling users to:
Plannuh was brought to market in 2019 by founder and CEO, Peter Mahoney, who has spent more than 30 years at the nexus of marketing, technology, and product development. Plannuh's reputation for operational marketing excellence is a result of its experienced team of leaders across marketing, product development, cloud application development, and artificial intelligence.
"I created Plannuh because I saw a need for agile planning and budgeting tools that address the unique requirements of marketers, while connecting those marketing concepts to financial outcomes. We have spent the past few years creating a system that delivers best-in-class marketing performance that can be communicated in the language of the business," said Mahoney, who will join Planful as General Manager of Marketing Solutions. "Planful is the natural partner to connect our approach to broader financial planning and analysis processes, further solidifying the strong relationships our customers have developed with their counterparts in the Office of the CFO."
Plannuh customers are able to get up and running within weeks for immediate time-to-value. Plannuh has customers around the world and across more than 25 industries, including Axonius, Duolingo, and Invisible FenceⓇ Brand.
"As a customer of both Planful and Plannuh, we have seen immense value in the ability of both solutions to help us remain agile through changing market conditions, allowing us to confidently plan for the future. We look forward to working even more closely with Planful to increase collaboration and business-wide planning across both our finance and marketing teams," said Mark Horne, Chief Marketing Officer at Pindrop Security.
"Financial performance doesn't exist only in the Office of Finance. It's key to every business users' ability to drive success across the organization. Especially in times of uncertainty and volatility, financial rigor is critical," noted R "Ray" Wang, Principal Analyst and CEO of Constellation Research, inc. "Organizations are seeing a significantly increased need for business-wide planning, and increased visibility and collaboration across finance and marketing."
All of Plannuh's employees will join the Planful team, and the Plannuh application will be immediately merged into the Planful platform. The solution will continue to be available as a standalone offering to marketing departments and will also be available as part of the broader Planful platform. Planful was represented by Paul Hastings LLP in connection with this transaction.
Requests for a demo can be made here: www.planful.com.
Planful is the pioneer of financial performance management cloud software. The Planful platform is used around the globe to streamline business-wide planning, budgeting, consolidations, reporting, and analytics. Planful empowers finance, accounting, and business users to plan confidently, close faster, and report accurately. More than 1,300 customers, including Boston Red Sox, Bose, 23andMe, Zappos, and Five Guys rely on Planful to accelerate their cycle times, increase productivity, and improve accuracy. 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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