Host Analytics, the leader in cloud-based enterprise performance management (EPM), today announced record growth for the fourth quarter and full year 2014, again growing new Annual Recurring Revenue (ARR) by more than 115 percent. Fortifying its position as the fastest-growing cloud EPM vendor, Host Analytics also added major new customers and partners in the fourth quarter, closed a significant funding round, and continued to lead the market’s transformation from legacy on-premises applications to SaaS-based enterprise performance management.
“I am incredibly pleased with our continued success,” said Dave Kellogg, CEO at Host Analytics. “Customers are frustrated with the high overall costs and limited flexibility of legacy on-premises EPM applications. Host Analytics is winning a major share of this cloud migration because we provide the only complete, enterprise-ready cloud-based EPM cloud platform.”
Host Analytics recently announced the findings of a survey by Radius Global Market Research showing that 20-30 percent of organizations currently using legacy on-premise solutions plan to make a switch to an alternative solution within the next year, and 65 percent plan to eventually make a move. The research findings are validated by Host Analytics’ growing success in winning new customers who are jettisoning on-premises solutions like Oracle Hyperion.
During the fourth quarter, Host Analytics announced a funding round of $25 million led by Centerview Capital Technology. Existing venture investors Advanced Technology Ventures, Next World Capital, StarVest Partners, and Trident Capital also participated in the funding round. Host Analytics will use this capital to continue developing cutting-edge solutions that match the needs of customers and to expand domestically and internationally. In addition, Ned Hooper, Founding Partner of Centerview Capital Technology, has joined Host Analytics’ Board of Directors. (See resources below).
New Customer Expansion
New wins at both large enterprise customers and fast-growing startups fueled growth in the fourth quarter. Notable new customers included Brock Group, Druva Software, Golden State Foods, Greystar, Moderna, ServiceMax, Sprinklr, and Zeltiq Aesthetics.
Host Analytics continued to win business at large companies moving away from legacy EPM systems to the company’s cloud-based EPM platform, as well as fast-growing companies who outgrew other cloud EPM solutions.
Continued Ecosystem Growth
The company announced several new partnership agreements in the fourth quarter, including CrossCountry Consulting, Slalom Consulting, Solomon Edwards and WG Consulting. These new partners will utilize their expertise in delivering world-class business solutions to implement Host Analytics’ award-winning EPM Suite.
Host Analytics’ CEO, Dave Kellogg, was honored as a top CEO in Financial Technology by GrowthCap. Kellogg was ranked in the top 3 out of 25 CEOs based on revenue growth, capital raised, dominance in their field, and overall career performance. (See resources below).
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About Host Analytics
Host Analytics is the leader in cloud-based enterprise performance management (EPM), offering a suite of financial applications for planning, consolidation, reporting, and analytics. Host Analytics customers benefit from improved business agility, faster execution of core financial processes, and lower overall cost compared to legacy on-premises alternatives. World-class companies like NEC, Burlington Coat Factory, and Sanmina trust Host Analytics to power their strategic financial systems. Host Analytics is a fast-growing, private company backed by leading venture capitalists and is headquartered in Silicon Valley with offices around the globe.
For more information about Host Analytics, please visit www.hostanalytics.com