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Adaptive Insights Strengthens Executive Team Amid Record Growth
|By Marketwired .
|July 21, 2014 03:09 PM EDT
PALO ALTO, CA--(Marketwired - July 21, 2014) - Adaptive Insights, the worldwide leader in cloud business analytics for the biggest brands and the hottest companies, today announced new leadership appointments including Founder Rob Hull to the role of Chairman and the transition of CEO John Herr to senior advisor for the company. Keith Nealon, Former President and GM of ShoreTel, joins the company as its new President and Chief Revenue Officer and Jim Kelliher, CFO of LogMeIn, joins as the new Audit Committee Chair and member of the board of directors.
The new executive leadership appointments build on Adaptive's exceptional momentum and growth. Adaptive recently announced the best quarterly performance in the company's eleven year history, with more than 100% year over year growth in new software bookings, larger deal sizes, and hundreds of new large enterprise and high-growth customers in the first half of 2014. Adaptive's customer base has grown to more than 2,200 active customers, representing five times more customers than any other cloud corporate performance management (CPM) company.
Nealon and Kelliher both bring extensive experience leading high-growth companies. Nealon most recently served as the President and General Manager of ShoreTel's cloud division (via its acquisition of M5 Networks) where he was responsible for growing revenue more than 100% in three years. Prior to ShoreTel, Nealon held several senior executive positions at companies including Conductor, Navisite and Eloqua, which grew to be one of the industry's most successful cloud companies during his tenure as Senior Vice President of Worldwide Sales. His expertise will bolster Adaptive's growth as he provides integrated management of the company's revenue functions including sales, channels, and services.
Kelliher currently serves as CFO of LogMeIn and the Audit Chair for Fleetmatics, both of which are Adaptive customers. He has also previously held financial leadership positions at IMlogic and Parametric Technology. His extensive executive financial management experience and track record of leading financial, legal and human resource activities for publicly-traded enterprise software companies will be highly valuable as he leads Adaptive Insights' Audit Committee and advises the company's financial reporting operations.
"I want to thank John for his many contributions to Adaptive's record results over the past several years. He's done a fantastic job positioning Adaptive for our next wave of growth and I'm excited to have him continue on as a senior advisor. I'm thrilled to welcome Keith and Jim as strategic additions to the Adaptive team as we achieve spectacular growth and momentum as a company. With exceptional cloud experience scaling both pre-IPO and publicly-traded companies, Keith will play an important role in driving our top-line growth and market leadership to the next level. I look forward to working closely with Keith in my role as Chairman," said Rob Hull, Founder and Chairman of Adaptive Insights. "We are also excited to bring Jim on board as Audit Committee Chair and a board member. As a finance veteran with deep expertise in managing rapidly growing public software companies, he is the ideal advisor for Adaptive at this stage of growth."
"I'm incredibly proud of what we've accomplished as a company over the last several years. It's been a pleasure to work closely with our customers, partners, and employees as we've rapidly expanded across the globe," said John Herr. "I'm more optimistic than ever about the future of Adaptive, and look forward to making ongoing contributions to the team and community as a senior advisor."
"Adaptive's exceptional growth is proof-positive to the fact that a company with a laser focus on customer success deeply embedded into the company culture, and recognized by industry experts like Gartner, will reap the rewards as prospects vote with their wallets. It is no accident that Adaptive has become the #1 player in corporate performance management," said Keith Nealon, President and Chief Revenue Officer for Adaptive Insights. "It's rare to have the opportunity to join a company that is not only the fastest growing in their space, but also #1 in customer satisfaction and product usability. I look forward to working with the broader executive team as Adaptive continues its phenomenal worldwide growth."
About Adaptive Insights
Adaptive Insights is the worldwide leader in cloud business and financial analytics 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 Insights enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Insights is used by over 2,200 customers worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Siemens. The company is the #1 fastest growing cloud business analytics and CPM software company on the Deloitte Technology Fast 500™ list; ranks #1 in revenue and market share growth among Gartner Top 10 CPM providers; and is #1 in customer satisfaction in independent industry surveys. With customers and partners in over 85 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with worldwide partners including Armanino, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers Adaptive Insights as the NetSuite Financial Planning Module. Adaptive Insights is headquartered in Palo Alto, Calif. and is funded by Bessemer Venture Partners (BVP), Cardinal Venture Capital , Monitor Ventures, Norwest Venture Partners (NVP), ONSET Ventures, and Royal Bank of Canada (RBC).
For more information, visit www.AdaptiveInsights.com, the Adaptive Insights Blog, and follow Adaptive on LinkedIn, Twitter, Facebook, and YouTube.
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