Adaptive Planning Names CFO David Pefley to Manage Accelerated Growth
(Marketwire Via Acquire Media NewsEdge) MOUNTAIN VIEW, CA -- (Marketwire) -- 12/19/12 --
Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) and business intelligence solutions for companies and nonprofits of all sizes, today announced the appointment of David Pefley as its Chief Financial Officer. Pefley joins Adaptive Planning with a wealth of experience managing rapid growth for leading public and private technology companies such as KLA-Tencor, Aspect Development, and National Semiconductor. Pefley starts with Adaptive Planning in the midst of record company growth and market expansion for the company's broadening product line, which is largely aimed at the CFO and financial functions.
"I am excited about the opportunity ahead, as Adaptive Planning's products are fundamentally transforming the way finance teams and executives manage their companies," said David Pefley. "As a long time CFO and finance professional, I can truly appreciate the challenges and pains of traditional processes that Adaptive Planning overcomes. I understand why Adaptive Planning is the number one choice for CFO's in 65 countries around the world. The company's exceptional growth and passionate customers reflect its success in helping finance and business leaders achieve improvements in speed, accuracy, costs, productivity, decision making, and collaboration, all with no IT required."
Pefley brings solid experience in CFO and senior financial leadership roles at large, global, high-growth software and technology companies including Aspect Development, KLA-Tencor, National Semiconductor, Yield Dynamics, Virtutech (acquired by Intel), and Daisy Systems. He is adept in formulating business strategies, utilizing teamwork and planning to succeed in competitive markets, and driving rapid growth and increased profitability through hands-on management. At KLA Tencor, Pefley managed financial and business planning efforts at the company during a period when annual revenues increased from $113 million to $1.2 billion.
As CFO at Adaptive Planning, Pefley will lead the finance, HR, and administration teams.
"We are thrilled to have Dave on board. He brings a strong track record in shepherding successful, fast-growing companies to the next level," said John Herr, CEO of Adaptive Planning. "His deep experience in building and managing both private and public companies will be extremely valuable as we continue to scale Adaptive Planning. Just as important, Dave is energized about our product, our customers, and our mission, and will provide additional expertise and thought leadership within the senior finance function."
Pefley joins at the end of a banner year for Adaptive Planning, which included $22 million in new venture financing, an industry-leading 1,500 customers, 300 worldwide partners, and #1 ranking in customer satisfaction among leading CPM vendors. Adaptive Planning is in use by some of the world's most recognized brands such as Siemens, Philips, and Konica Minolta, as well as high-growth companies such as Jive Software, DocuSign, and NetSuite. The company announced a record growth of more than 90 percent in new software bookings, and introduced a breakthrough new visual discovery solution. Additionally, in September the company announced it had acquired myDIALS, the leading provider of cloud data visualization solutions, ushering in a new era of cloud-based business intelligence (BI). With these results and milestones, Adaptive Planning continues to strengthen its position as the leading provider of cloud-based CPM and BI solutions.
About Adaptive PlanningAdaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) and business intelligence (BI) solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Planning is used by over 1,500 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 5th fastest growing software company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 300 worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.
Source: Adaptive Planning
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