US-based business planning software provider FinancialForce.com raised $110m today in a series D round featuring Salesforce Ventures, the corporate venturing arm of cloud computing company Salesforce.com.
Growth capital firm Technology Crossover Ventures led the round, participating as a new investor.
Founded in 2009, FinancialForce has developed a system on the Salesforce1 platform that incorporates enterprise resource planning (ERP) and customer relationship management (CRM). It recently posted a 91% increase in its annual subscription run rate.
The company will invest the latest funding in growing development, sales and marketing, alliances and customer support.
The funding follows a $50m investment by private equity group Advent International in April 2014, and $33.9m in debt and equity raised from investors including Salesforce Ventures, according to regulatory filings.
Jeremy Roche, chief executive and president of FinancialForce, said: “Our goal has always been to transform the ERP market in the same way that Salesforce has for CRM.
“As our growth indicates, the industry is responding to our customer-centric approach to ERP where our apps, built natively to run alongside the Salesforce Customer Success Platform, help businesses create meaningful relationships with customers and employees to grow their top and bottom lines.