Last week we announced that we had successfully closed a $25M round of financing and received some pretty good coverage in the media, including this story in TechCrunch, this story in Talking Cloud, and this one in the Silicon Valley Business Journal.
In this post, I thought I’d offer a few thank-you’s and share a little perspective on the round.
First, the thank-you’s:
- Thanks to our amazing customers who entrust us with helping them solve their financial planning, budgeting, forecasting, consolidation, and reporting challenges. Without you, nothing else happens.
- Thanks to our fantastic partners who help us deploy within customers, co-market with us, and refer us into new opportunities.
- Thanks to the wonderful employees who constitute the Host Analytics team. We have done amazing things in the past two years and will do even more amazing ones in the two years to come.
- Thanks to our superb investors for having faith in the company, the market opportunity, and the team. And a special thanks to our new investor Centerview Capital, who led the round and with whom we very excited to work to build a market-defining company.
In terms of perspective, here are some thoughts:
- We believe that Host Analytics is the fastest-growing company in the cloud EPM space. This year we will grow new subscriptions at over 120%. This validates that the strategic and operational decisions we have made over the past two years have been correct, if not always obvious.
- I am proud that we have driven this success by focusing on the customer. While at least one competitor competes heavily on the basis of chest-thumping and corporate FUD, we have competed based on customer focus and on a consultative approach to solving business problems. This isn’t easy to do — it requires both deep category knowledge and a strong constitution. And while we routinely get broad-sided, we do not let that distract us from our focus on solving the customer’s problem. I often tell the team to forget the competition and follow the advice from the secret advocate in Disclosure: “solve the problem.”
- We have a huge opportunity before us to unite financial and operational planning. Over the past decade, a lot of work that was traditionally done by the financial planning and analysis (FP&A) department, has silently moved outside finance and into the operations. Salesops does sales forecasting, commission forecasting, territory management, and quota-setting. Marketingops does marketing budgeting, lead forecasting, and pipeline coverage analysis. Servciesops does services planning, forecasting, and margin analysis. The good news is that businesses are more data-driven than ever. The bad news is that all these teams are disconnected from finance and the financial planning system. There is a big opportunity to bring this all back together and put the E (enterprise) back in EPM. We are going to lead the market in pursuing that opportunity.
Thanks to everyone who has helped make our progress thus far possible. I believe the next two years are going to be even better than the past two.