Saturday, March 10, 2007

Adaptive Planning

"Adaptive Planning, the leading provider of collaborative business performance management (BPM) solutions, today announced its completion of $7.5 million in corporate financing. The round of funding, in which past Adaptive Planning investors ONSET Ventures and Monitor Ventures also participated, will enable the company to continue growing its product development, marketing, and sales initiatives in order to expand its share of the BPM and business intelligence (BI) markets among small and midsized companies.

Adaptive Planning's third round of financing brings its total outside investment to $19 million. As part of today's news, the company announced that Eric Dunn, general partner of Cardinal Venture Capital, is joining Adaptive Planning's board of directors along with existing directors Terry Opdendyk of ONSET Ventures, Jerome Engel of Monitor Ventures, and Ken Ross, president and CEO of Seriosity and former president and CEO of Pillar Corporation."

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