Adaptive Planning, a developer of performance management and business intelligence software backed by Royal Bank of Canada, has hired David Pefley as its chief financial officer.
Pefley has previously worked in financial leadership roles at companies which include Aspect Development, computer-aided engineering company Daisy Systems, KLA-Tencor, a supplier of process control and yield management solutions, computer company National Semiconductor , Virtutech, which was acquired by Intel, and Yield Dynamics. Pefley will lead Adaptive Planning ‘s finance, human resources and administration teams.
Pefley said: “Adaptive Planning’s products are fundamentally transforming the way finance teams and executives manage their companies, as a long time CFO and finance professional, I can truly appreciate the challenges and pains of traditional processes that Adaptive Planning overcomes”.
Adaptive Planning, backed by the Royal Bank of Canada, has raised $55m in funding to date. In March the company raised $22m in a Series E round that saw involvement from Monitor Ventures. Norwest Venture Partners led the financing round with participation from Cardinal Venture Capital, Clairmont Capital, and Onset Ventures.
Adaptive Planning claims to have more than 1500 customers that use its cloud-based software that include DocuSign, Jive Software, Konica Minolta and Siemens.
In September, Adaptive Planning acquired myDials Inc, a privately held developer of business data visualization software.