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 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.
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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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