Planful Continues 2021 Momentum With Strong Q3 Results

Both channel sales and customer growth up significantly in Q3, with Planful signing another 12 global partners

REDWOOD CITY, Calif., Oct. 28, 2021 /PRNewswire/ -- Planful Inc., the pioneer of end-to-end financial close, consolidation, and financial planning & analysis (FP&A) cloud software, announced today that the record-breaking growth it reported in the first half of the year is continuing with strong increases in subscription bookings, new customer acquisition, and global partnership expansion in the third quarter. 

Planful's net new customer acquisition increased 100% year-to-date over 2020, with new brands added to its roster spanning a range of industries, including Bardavon Health Innovations, Mews, Parts Authority, Quantum Metric, and Zeon Chemicals L.P.

Measurable progress also continues on customer-first initiatives to create the best customer support and user experience in the industry. "Planful is a well-developed product with unmatched customer service," said Janet Golla, Vice President, Planning and Analysis, Capitol Petroleum Group, a leading wholesale distributor of petroleum services in metropolitan Washington, D.C. and New York City. "I have never been more impressed by the genuine customer service provided by all of Planful's departments. I am also impressed with the online training resources and customer support, as well as the support of the Planful user community."

Q3 highlights include:

• Strong year-over-year growth, with a 65% increase in subscription bookings 
• Expanded global partner ecosystem, with the addition of 12 new global partners this quarter and channel sales up six fold year-over-year in Q3, building on the momentum from the company's recently announced strategic partnership with Trintech
• Continued investment in global growth, by doubling international go-to-market hires year-to-date and year-over-year
• Announced expansion of its Planful Predict portfolio, a suite of native AI/ML products designed specifically for complex financial data
• 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
• 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
• Deployed performance, UX, and AI platform enhancements, more than doubling the speed of data aggregation and calculations of large scale-planning and analysis models
• Named an Experience Leader in the 2021 Dresner Advisory Services' Wisdom of Crowds® Study based on customer feedback, receiving a perfect recommended score from users

Planful Chief Executive Officer Grant Halloran commented, "Our Q3 results demonstrate that the strong momentum we gained in the first half of the year is continuing. I'm very proud of the Planful team's skillful execution, as we relentlessly focus on delivering great customer experiences and rapidly expanding our direct and channel distribution."

About Planful
Planful (formerly Host Analytics) 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 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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