Planful Maintains Global Expansion Momentum in 2023

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Feb 08, 2024, 12:15 ET

After Record-breaking Q4, Company Will Accelerate Global Expansion Even Faster in 2024

SAN FRANCISCO, Feb. 8, 2024 /PRNewswire/ -- Planful Inc., the pioneer of financial performance management cloud software, today announced strong customer, revenue, and bookings growth in fiscal year 2023, capped by record-breaking bookings in the fourth quarter of 2023.

The continued momentum was fueled by the addition of hundreds of new customers along with expansion of Planful solutions deeper into its existing customer base. For the fourth quarter, Planful achieved record new bookings growth across several key metrics, including:

Global customer expansion bookings, up 26% year-over-year;
New international customer bookings, up 107% year-over-year;
Planful's marketing solution bookings, up 36% year-over-year.

Grant Halloran, Planful Chief Executive Officer, said: "2023 was a tough year in the SaaS market, and I'm very proud of our team's resiliency and excellent performance. We welcomed many new customers and supported existing ones as they expanded their use of Planful with our AI accelerator, Planful Predict, and by increasing usage across their business users, with experiences built specifically for budget managers. It's full steam ahead in 2024, when we will launch new products, new partnerships, and expand our workforce by over 30% to support our global growth."

In fiscal year 2023 the company added hundreds of new mid-market and enterprise customers, including Vacasa LLC, the Pittsburgh Penguins, Nutex Health, Forterro, Acumatica, Malwarebytes Corporation, and Fandom, Inc. to name a few, plus a record number of new international customers.

Otter Products is a global innovator of premium protective products for smartphones and tablets, and a seven-time honoree on the Inc. 5000 list of fastest-growing private companies in the US. "Planful helped us streamline our financial processes and nearly double Finance's productivity in spite of tightening budgets," said Shane Thomas, Finance Transformation Manager at Otter Products. "We're also realizing huge benefits from the widespread embrace of Planful across the organization — we have over 150 users collaborating across multiple departments. Planful lets us be true partners to the business, working together to drive peak performance at Otter Products."

2023 highlights include:

Accolades from top industry analysts including in Gartner's Magic Quadrant™ reports for Cloud Financial Planning and Financial Close and Consolidation, and the Forrester Wave™ report for Digital Operations Planning & Analytics. Planful was also named a Leader in Dresner's Wisdom of Crowds® Market Study and the Nucleus CPM Technology Value Matrix, included in the BARC reports for Integrated Planning & Analytics (IP&A) and Financial Performance Management (FPM), and named to the Constellation Research ShortList™ for Cloud-Based Planning and Performance Management Platforms for the 11th consecutive year.
Multiple awards, most notably a Business Intelligence Group Excellence in Customer Service award, a Bronze Stevie® Award for Customer Service Department of the Year, an Industry Excellence Award from Dresner Advisory Services, and topping the charts in G2's Best Accounting and Finance Products for 2023 report and Quarterly Reports across multiple categories.
Top honors bestowed on Planful leadership including CEO Grant Halloran earning a Gold Stevie® Award for Maverick of the Year and a Pavilion GTM award for CEO of the Year, and Chief of Staff to the CEO and Chief People Officer Melissa Dreuth being named a finalist in the Lattice People Success awards and a Leader of Distinction in the CHRO of the Year awards.
Recognition for Planful's vibrant company culture by being named to multiple lists including Fortune's Best Medium Workplaces™ and Best Workplaces in the Bay Area, UK's Best Workplaces in Tech™ from Great Place To Work U.K., India's Best Workplaces for Women by Great Place to Work® Institute India, and the Top 25 Companies Where Women Want to Work list from #GirlsClub. Planful also achieved Great Place to Work certification for the U.S., U.K., Canada, and India for the second year in a row, and was named a finalist in the 2023 Lattice People Success Awards.
New partnerships with leading firms such as Postal, Inverta, Novus Proximus, Blue Noda, Kloo, Elevate IQ, 6Sense, Openvale Group, and The CFO Alliance.

Planful's user conference, Perform24, will be held on May 14-16 in San Diego, California, with several thousand in-person and online attendees. In-person attendance is limited and registration can be done here.

About Planful

Planful is the pioneer of financial performance management cloud software. The Planful platform, which helps businesses drive peak financial performance, is used around the globe to streamline business-wide planning, budgeting, consolidations, reporting, and analytics. Planful empowers finance, accounting, and business users to plan confidently, close faster, and report accurately. More than 1,350 customers, including 23andMe, Bose, Boston Red Sox, Five Guys, and Zappos, rely on Planful to accelerate cycle times, increase productivity, and improve accuracy. Planful is a private company backed by Vector Capital, a leading global private equity firm. Learn more at planful.com.

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