Adaptive Planning Takes $22M

Mountain View-based Adaptive Planning, a developer of enterprise, performance management software, said today that it has raised $22M in a funding round. The round was led by Norwest Venture Partners, and also included Cardinal Venture Capital, Clairmont Capital, Monitor Ventures, and ONSET Ventures. Adaptive Planning's software is used for managing business and finance of companies, including budgeting, forecasting, business intelligence, and other corporate decision making. The firm is led by John Herr. Sergio Monsalve of Norwest Venture Partners joins the company's board as part of the funding. More information »