Planful Achieves Record-breaking Growth in 2021, Driven by Market Demand and Transformation Strategy

2021 brought record customer acquisition, new global partnerships, international expansion, growth of management team, introduction of new products, and more

REDWOOD CITY, Calif., Feb. 8, 2022 /PRNewswire/ -- Planful Inc., the pioneer of end-to-end financial close, consolidation, and financial planning & analysis (FP&A) cloud software, today announced a breakthrough fiscal year, with new customer acquisitions up 95% year-over-year.

The company's accelerated growth is a result of a multi-year transformation, global expansion, and increasing market demand for modern Office of the CFO technology, as businesses in all industries seek to navigate market disruptions and remain competitive in today's uncertain economy.

Significant corporate transformation greatly contributed to Planful's record-breaking performance in fiscal 2021, beginning with the company's acquisition by Vector Capital in late 2018. With an expanded executive team boasting deep industry expertise, the company has rebranded, established a global reseller channel, expanded into international markets, and quickened the pace of bringing innovative products to market. 

"I'm very proud of the entire Planful team, especially the strong talent within our R&D organization, for the amazing commitment to helping Planful attain breakthrough results and rapid product advancements this year," said Planful's Chief Executive Officer, Grant Halloran. "Our achievements are, in large measure, the result of a highly-dedicated, global team that is focused on bringing world-class service and product experience to our customers."

2021 highlights include:

• Subscription bookings growth up 65% year-over-year
• Increased new customer acquisitions by 95% year-over-year
• Tripled the size of the partner channel, with over 400% channel subscriptions bookings growth year-over-year and new partnerships with Acumatica, Microsoft, and Trintech
• Global expansion continued, with over 110% growth year-over-year in international customer additions and office openings in London, Sydney, and Toronto
• Increased the velocity of product advancements, including: launched the Planful Predict suite of native AI/ML applications, releasing Predict: Signals and Predict: Projections to provide user-friendly data science capabilities; India-based R&D organization delivered more innovative product features than any other year in company history
• Recognized with the WellBeyond Program of the Year Award for Emerging Companies from Sequoia, for commitment to employee health via Planful's innovative wellness programs
• Recognized by leading industry analyst firms: included in Constellation Research Shortlist for Cloud-Based Planning Platforms; named an Experience Leader in the Dresner Advisory Services' Wisdom of the Crowds Study; and recognized by Nucleus Research as a Hot Company to Watch in 2022 and a Leader in their Corporate Performance Management Value Matrix in both 2021 and 2022, marking the company's ninth consecutive year as a Leader
• Held a highly successful Planful Perform 2021 virtual user conference in September--doubling attendance from the 2020 virtual event--that featured 20 hours of content, 35 speakers, and 2,000 attendees

During 2021, Planful met global market demand for agile finance and accounting capabilities with its intuitive and easy-to-use cloud platform, adding leading brands to its customer community, including Babcock & Wilcox; Dollar Shave Club; Figs; LP Building Solutions; Tile, Inc.; Rakuten Advertising; and Zipline Logistics.

LifeStance Health, a national provider of behavioral healthcare services, is on a high-growth track expanding to over 700 locations in four years, bringing together 5,000 clinicians to provide comprehensive mental health treatment services for patients of all ages across the U.S. Noah Pieper, Director of FP&A, LifeStance Health, said: "As our business continues to expand at a high rate, we know Planful will continue to scale with us in functionality and performance. Planful has transformed how we plan and report throughout our growth." Pieper turned to Planful to help his company achieve its growth goals by modernizing their planning, budgeting, and reporting efforts. With Planful, LifeStance now has faster access to current financial insights, and its finance and accounting teams have tighter collaboration with the business and more time to focus on the company's continued growth.

To learn more, inquire about a demo and register for Planful Perform '22, the company's annual user conference in Las Vegas, Nevada this May.

About Planful
Planful is the pioneer of end-to-end financial close, consolidation, and financial planning & analysis (FP&A) 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 1000 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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