Host Analytics Raises $25M in Funding for Cloud-Based EPM Applications Suite
Privately-held Host Analytics on Monday announced it has raised $25 million in funding for its suite of financial applications for planning, consolidation, reporting and analytics. These additional funds bring the company’s total financing to date to $77 million.
Centerview Capital Technology led the Series E financing, with participation from existing investors Advanced Technology Ventures, Next World Capital, StarVest Partners and Trident Capital. As part of the deal, Ned Hooper, founding partner of Centerview Capital Technology, will join Host Analytics’ board of directors.
Headquartered Redwood City, the California, the cloud-based enterprise performance management (EPM) applications company on said it will leverage the additional funds to support additional company growth, invest in both current and future solutions, and expand internationally over the next few years.
“Our business is extremely healthy, we’re growing quickly, and we have a great ‘tailwind’ because of the EPM market’s shift to the cloud,” said Lance Walter, CMO at Host Analytics. “We think this funding puts us on a path to an amazing future and an incredible company.”
Walter told Talkin’ Cloud in an interview that the new funding will also go toward assisting channel partners with additional products and services, and sales and marketing efforts.
“We did a lot in 2014 to ‘programmatize’ more aspects of our partner program, including rolling out technical bootcamps as well as formal ‘shadowing’ — when a trained but inexperienced consultant teams up on an implementation with an experienced technical mentor from our staff,” he said.
“As a result, we’ve seen a four-time increase in opportunities with partners which is very good for them and good for us,” Walter said. “Next year, we’ll roll out formal partner certification, additional programs for joint marketing with partners, and a Worldwide Partner Summit.”
As far as the company’s product roadmap is concerned for 2015, Walter said Host Analytics will “continue to disrupt the traditional EPM space and replace legacy on-premises EPM applications.”
“Beyond that, we’ll keep building out our portfolio of operational planning applications that help connect various operational functions to finance,” he said. “We couldn’t be more excited for 2015.”