Adaptive Planning, a provider of cloud-based business and financial analytics, is changing its brand name to Adaptive Insights, which CEO John Herr said better describes the benefits the company delivers.
"While 'Adaptive' represents our brand equity, 'Insights' points to the benefits that we deliver," he said in a statement, noting that the company has expanded beyond its original planning software to provide "a complete, integrated corporate performance management and business intelligence suite."
The announcement follows a year of strong growth, according to the company, including a 90 percent year-over-year increase in new software bookings. In 2013 the company also added hundreds of new customers, including The Boston Globe, Cirque du Soleil, Bemis, Tata Chemicals Europe, Sunny Delight, Sur La Table, Nikon and Canon Australia.
The company also established new corporate headquarters in Palo Alto, Calif., doubling the size of its office, and recently made several key hires, including a new CFO, vice president of Global Channels and Business Development and senior vice president of People and Human Resources.
Several new investors contributed to a $45 million funding round in October, including Jeff Epstein, former CFO of Oracle, recently who is now a senior adviser to the company.
"Following a spectacular Q4 of 2013, we are excited about the accelerating growth and momentum heading into 2014," Herr said.