Cloud software company Anaplan on Thursday became the latest tech firm to close a sizeable funding round in what is shaping up to be a busy month for venture capital financing.

Anaplan, which provides planning software for businesses, has raised $90 million in new financing, pushing the company’s valuation to $1.09 billion, Chief Executive Officer Frederic Laluyaux said in an interview.

Indian firm Premji Invest led the investment, and Anaplan’s previous investors also joined. The company has raised a total of $240 million.

Anaplan was not alone. App analytics startup App Annie, which provides data on mobile apps such as downloads and sales, said on Thursday it closed a $63 million funding round led by Greenspring Associates.

And, data intelligence platform Looker also announced on Thursday it raised $48 million from venture firm Kleiner Perkins Caufield & Byers.

Venture-backed companies globally have closed financing deals totaling nearly $4.8 billion since Jan. 1, according to venture capital and angel investing database CB Insights.

Top deals this year include ride-hailing company Lyft’s $752 million round, travel search site Skyscanner’s $192 million raise, and Flatiron Health, a healthcare technology company that closed $175 million, according to CB Insights.

Anaplan said its next financing event will be an initial public offering. Laluyaux did not offer a specific timeline for an IPO, but the company hired James Budge this month as chief financial officer. He will help lead IPO preparations.

“What we want is to be in a position to go IPO whenever we feel that the timing and markets are right,” Laluyaux said. “Right now the market is tough.”

The public stock market plunges and excessive valuations in the private market have rattled nerves throughout the venture capital community.

Despite exceeding its funding goal by $15 million, Anaplan said investors are demanding more from startups – that they show more progress toward profitability – and are increasingly cautious about valuations.

“There is no question it is more difficult to raise funds,” Budge said.

San Francisco-based Anaplan said it is not profitable. It has more than 400 customers across about 20 countries, including Hewlett-Packard, Motorola and DocuSign.

Despite any market unrest, venture capital firms are still flush with capital to deploy, with U.S.-based firms raising $5 billion just in the fourth quarter last year, according to the National Venture Capital Association.

Venture firm TrueBridge Capital Partners on Wednesday announced a new $400 million fund to invest in early-stage tech companies.

(Reporting by Heather Somerville; Editing by Lisa Shumaker)

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