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The family office of <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>, <keyword id="648852" type="COMPANY" weightage="20" keywordseo="Premji-Invest">Premji Invest</keyword>, pumped $90-million funding into cloud firm <keyword id="2240135" type="UNKNOWN" weightage="20" keywordseo="Anaplan">Anaplan</keyword>.<br />
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Now, Anaplan values at $1.09 billion. This funding will also give the US-based company a firm ground in India.<br />
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Anaplan, which was founded in 2006 by Guy Haddleton and Michael Gould, gives enterprise planning and modelling software to businesses.<br />
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"Premji Invest is thrilled to lead this investment round because we have seen a broad range of companies around the world transform their businesses with Anaplan's agile planning and modeling platform," said Sandesh Patnam, partner and lead US investor, at Premji Invest.<br />
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Premji Invest has also pumped funds in Cyanogen, Zuora and Service-Max.<br />
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(Image: Thinkstock)<br />

Azim Premji just pumped in $90million into cloud firm Anaplan

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Anaplan</span></p><p class="caption">Frank Calderoni just took over as Anaplan's CEO in January.</p></div><p></p></div></div></strong></p><ul><li><strong>Anaplan has raised $60 million in a new funding round that pushes its valuation to $1.4 billion, up from $1.1 billion.</strong></li><li><strong>The new funding marks a keystone moment for first-time CEO Frank Calderoni, a well-known Silicon Valley executive who formerly served as chief financial officer at Cisco and Red Hat.</strong></li><li><strong>The funding also indicates the company is heading in the right direction after a prolonged transition period between CEOs last year. <br /></strong></li></ul><p><br />Anaplan, the unicorn startup taking on SAP and Oracle with its cloud-based financial planning software, appears to have resumed its rise.</p><p>The company just closed a $60 million funding round from existing investors. The round brings Anaplan's valuation to $1.41 billion.</p><p>That's not only up from its previous valuation of $1.1 billion, it's marks a keystone moment for company CEO Frank Calderoni. It's also a signal that Anaplan is heading in the right direction after a prolonged transition from its last CEO to Calderoni.</p><p>Anaplan has now raised a total of $300 million. Its latest funding round, like previous rounds, was led by Premji Invest, the investment fund of Indian billionaire Azim Premji, founder of Indian outsourcing company WiPo. Previous investors Salesforce Ventures and Top Tier Capital also participated in the round.</p><p>Anaplan was a venture capital darling in the heady days of 2015 and early 2016. When it raised its last round, it became a unicorn, the name for startups worth $1 billion or more.</p><p>But when the tide shifted in early 2016 from free-flowing investment money to tighter funding rounds, lower valuations, and austerity, Anaplan's CEO, Frederic Laluyaux, a former SAP executive, was out. His departure in April 2016 was a mutual decision with the company, <a href="https://www.wsj.com/articles/business-software-maker-anaplans-ceo-steps-down-1461760716">according to the </a><a href="https://www.wsj.com/articles/business-software-maker-anaplans-ceo-steps-down-1461760716">Wall Street Journal</a>.</p><p>Anaplan said at the time it wanted a new CEO who would help it grow. It didn't find what it was looking for until it hired Calderoni in January, poaching him from Red Hat.</p><h2>Running Anaplan is a job Calderoni's been well-groomed to do</h2><p>Calderoni is a well-known, long-time industry executive. He spent 11 years as Cisco's chief financial officer before serving a stint as Red Hat's CFO and executive vice president of operations.</p><p>During his time as a CFO, Calderoni depended on the kind of financial modeling tools that Anaplan makes. Anaplan promises that its cloud software is faster and easier to use than traditional tools such as Oracle Hyperion.<span></span></p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://twitter.com/Frank_Calderoni/status/847924127189131265">Twitter/Frank Calderoni</a></span></p><p class="caption">A tweet from Calderoni about meeting with Anaplan's customers.</p></div><p></p></div></div>Calderoni has spent this year traveling the world meeting with Anaplan employees. But his favorite moment as CEO happened a few months ago when a US customer invited him to observe a financial presentation.</p><p>The customer's financial team had signed up for Anaplan. In seven weeks, the team had built financial planning models for seven areas of its business and was presenting them to the company's CEO and CFO.</p><p><span>While Calderoni was there, members of the customer's financial team approached him. Anaplan wasn't just changing how they built forecasting models or saving them money, the team members told him. It was saving them time. </span></p><p><span>"The finance [organization] works long hours," Calderoni said in an interview with Business Insider. These people were thanking him for "freeing up so much time to spend more time with their families."</span></p><p><span>Calderoni left the meeting feeling like his startup wasn't just delivering a product, it was changing lives. He felt happy with his choice to leave his high-profile job at Red Hat.</span></p><p>But Calderoni's favorite thing about being CEO is being able to help shape Anaplan's culture. He's been involved in initiatives ranging from moves to attract and keep more women to choosing which charities to support. He's also been involved in fun stuff like a organizing employee outings to San Francisco's AT&amp;T Park to watch Giants baseball games and hang out with the players.</p><p>Anaplan has just over 800 employees and just over 800 customers worldwide. Its revenues are in the "couple hundred millions," Calderoni said. Meanwhile, the company is delivering the growth the board wanted him to spur; Anaplan is gaining about 70 new customers a quarter, he said.</p><p>Calderoni plans to eventually lead the company to an initial public offering. But that's not in the works yet, he said.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/jeans-denim-small-pocket-levis-secret-2016-5">Here's why your jeans have that tiny front pocket</a></h3>        <div>                    </div>    </div>

Anaplan looked like another troubled unicorn - but it's back on track with a new $1.4 billion valuation

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>Anaplan</span></p><p class="caption">Anaplan CEO Fred Laluyaux</p></div><p></p></div></div>Things are going exceptionally well <a href="http://www.businessinsider.com/excel-killer-startup-grows-10m-a-month-2014-5">for Anaplan these days</a>, the startup that's taking on Excel with a cloud app.</p>
<p>The company <a href="https://www.anaplan.com/press-releases/">just closed a $100 million series D investment</a>, led by VC <a href="http://dfjgrowth.com/">DFJ Growth</a>. That brings the total it's raised to $150 million.</p>
<p>The company is now valued at over $1 billion, a source close to the company tells us.</p>
<p>Human resources cloud company Workday was one of the investors in the round, as was Salesforce.com, which had invested in an earlier round, too. That means that Anaplan is backed by two of the most respected cloud companies in the nation.</p>
<p>Workday is led by co-CEO Aneel Bhusri, who is also a high-powered VC at Greylock Ventures, where <a href="https://www.linkedin.com/in/aneelbhusri">he has invested in, and is a board member of</a>, one of Anaplan's major competitors, <a href="http://www.businessinsider.com/christian-gheorghe-rags-to-riches-story-2014-5">Tidemark. </a></p>
<p>Other investors in Workday's huge round include Brookside Capital, Coatue Management, Sands Capital Management, Granite Ventures, Meritech Capital Partners, and Shasta Ventures.</p>
<p>The big raise might not be too shocking to anyone that has been following this market.</p>
<p>As we previously reported, Anaplan went from generating about $10 million in all of 2012, to $10 million per quarter in 2013. And it hit $10 million per month as of January, 2014, <a href="http://www.businessinsider.com/excel-killer-startup-grows-10m-a-month-2014-5">it told Business Insider.</a></p>
<p>The company is trying to get people who run their businesses with spreadsheets to make the leap to the cloud. It offers a sophisticated financial planning and modeling tool that's as easy to use as a spreadsheet, but also does things Excel can't do, like letting groups work together.</p>
<p>Founded about eight years ago, it really started to flourish after it hired CEO Frederic Laluyaux, who came from SAP.</p>
<p>Laluyaux said the Workday investment happened because both companies share a lot of customers. They were working to make their cloud products work better together when "Workday learned that we were doing our D round" he said.</p>
<p>Laluyaux is happy to have Workday aboard. "Aneel's support and strong positive views on Anaplan are a testament that Anaplan is really on the right path," he said.</p>
<p>Randy Glein, Managing Director at DFJ Growth, will join Anaplan's board of directors.</p>
<p>"Anaplan is addressing a very large market opportunity," Glein told us. "The company has the wind at its back and is scaling rapidly, thinking big about the future."</p>
<p>Next up, Anaplan wants to entice third-party developers to create pre-packaged modules for its app. It also wants to let them tap into its cloud to add graphs and modeling to their own apps, Glein told us.</p>

Excel-Killer Startup Anaplan Just Raised $100 Million On A $1 Billion+ Valuation

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Anaplan</span></p></div><p></p></div></div>The North of England has a new billion-dollar technology company in the form of enterprise software firm Anaplan.</p><p>The startup, founded in York, North East England, has raised $90 million (£62 million) in a Series E funding round at a valuation of $1.1 billion (£760 million) for its web-based business-planning and operations platform that competes with products from Oracle, SAP, and Microsoft.</p><p>The business was founded in a Yorkshire barn in 2006 by CTO Michael Gould. Today it employs between 500 and 600 staff across 12 offices worldwide. Although Anaplan has technically relocated its headquarters to San Francisco, much of its engineering is still done in York, where it employs approximately 80 people. Elsewhere in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>, Anaplan has offices in Maidenhead and London.</p><p>Premji Invest led the round that also included Baillie Gifford, Founders Circle Capital and Harmony Partners, as well as existing investors like Salesforce. Total investment in Anaplan now stands at $240 million (£166 million) and the company has 400 paying customers including large enterprises like HP and Aviva.</p><p>Gould told Business Insider over the phone today that the latest funding round will allow Anaplan to build its workforce to approximately 1,200 people over the next year, adding that the majority of those roles will be in engineering and sales.</p><p>Raising the funding round wasn't too difficult, Gould said, adding that Anaplan had been talking to investors over the last two months.</p><p>"There was a lot of interest but the market has changed in some ways," said Gould. "People are asking harder, tougher questions of businesses to get investment. People are looking at the path to profitability.</p><p>"Part of the reason we're raising money is because we're not profitable at this stage but we have a very clear path to get there soon."</p><p><a href="http://uk.businessinsider.com/tech-north-has-a-long-way-to-go-before-it-competes-with-london-2015-12">Despite government efforts</a>, the North of England has struggled to create technology companies as big as those in London, Edinburgh, Oxford or Cambridge. According to <a href="http://techcitynews.com/2015/06/15/uk-undisputed-home-of-unicorns-in-europe/">a report released last June</a> by research firm GP Bullhound, there is only a single billion-dollar technology startup in the North of England: ao.com. It's a website that sells fridges and washing machines, so although it's a successful business, it's not exactly revolutionary.</p><p>Gould said he wasn't sure companies in the North of England were growing to the same size as those in London.</p><p>"I think there's a lot of innovation [in the North]. Perhaps not in software but there is in nanotech in Manchester. There's quite a lot of activity."</p><p>The company is now looking ahead to a possible stock market listing but it does not have a date in mind at this stage.</p><p>"We're working towards an IPO," said Gould. "When and whether that happens will depend on a lot of factors. Market conditions aren't great at the moment."</p><p>In order to help prepare for the IPO, Anaplan has appointed a new chief financial officer in the form of James Budge, who has has held executive roles at US tech companies such as Rovi and Genesys.</p><p class="p1"><strong> Here is Anaplan in action:</strong></p><p></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/the-wings-of-this-airbus-plane-can-bend-way-more-than-you-thought-possible-2016-1">The wings of this Airbus plane can bend way more than you thought possible</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="R5Y2YxMDE6wzRei5HZqBLs9cI8_l8Brv" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Anaplan just raised &#163;62 million and became the North of England's first true tech unicorn

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Business Insider/Julie Bort</span></p><p class="caption">Anaplan CEO Frederic Laluyaux</p></div><p></p></div></div>Despite the "anti-unicorn" climate that has descended on Silicon Valley lately, hot, growing startups can still raise a boatload of investment at billion-dollar valuations, especially if the lead investors are outside of the U.S.</p><p>So it is for Anaplan, which <a href="https://www.anaplan.com/anaplan-raises-90-million-appoints-cfo/">just raised another $90 million</a>, led by Indian VC firm Premji Invest.</p><p>Scottish firm Baillie Gifford also participated, as did Founders Circle Capital, Harmony Partners, and Anaplan's existing investors which includes Salesforce and Shasta Ventures.</p><p>Anaplan has now raised $234.4 million in total, <a href="https://www.crunchbase.com/organization/anaplan#/entity">according to Crunchbase.</a></p><p>CEO <span>Frederic Laluyaux tells us this is the last round the company plans to raise. Next stop, an IPO. And in addition to the fundraising, the company also hired a new CFO James Budge, previously at Genesys.</span></p><p>Anaplan offers a financial planning cloud app that's as easy to use as a spreadsheet, but also does things Excel can't do, like modeling and letting groups work together. A planner can use it to see how adding more employees might affect sales and profitability, for instance. Its claim to fame is that it's a lot less expensive than planning software from giant SAP. </p><h2>Tighter terms</h2><p>In 2014, <a href="http://www.businessinsider.com/anaplan-raises-100-million-2014-5">Anaplan made waves when it raised $100 million</a>, a whopping amount at the time. It said then it had about $1 billion valuation.</p><p>It is now valued at $1.09 billion, <a href="http://techcrunch.com/2016/01/14/with-another-90-million-of-funding-and-unicorn-status-anaplan-looks-ahead-to-ipo/">TechCrunch reports.</a></p><p>This indicates that, while the cash is still available, terms have gotten tighter than last year, when startups with $1 billion valuations were popping up like weeds. (<a href="https://www.cbinsights.com/research-unicorn-companies">CB Research is tracking 150 of them</a>.)</p><p>Anaplan CEO Frederic Laluyaux explains, "Multiples have retracted but good companies still get funding, i.e., the money has not disappeared." </p><p>In other words, VCs are being more pragmatic when looking at a startup's revenue/ bookings to determine how much money to offer, and how to value the company. </p><p>Because some billion-dollar startups have hit troubled times like missing sales projections, with <a href="http://fortune.com/2015/11/11/snapchat-isnt-the-only-startup-in-fidelitys-crosshairs/">at least one investor writing down valuations</a>, there's a growing sentiment against them. (One of them, <a href="http://www.businessinsider.com/long-weird-history-of-good-technology-2015-12">Good Technology,</a> even sold itself to its hated competitor for less than half of its previous value.)</p><p>One of the Valley's most active investors, Salesforce's Marc Benioff, has even been speaking out against <a href="http://www.businessinsider.com/benioff-unicorns-are-a-huge-mistake-2015-11">the billion-dollar-valuation startup trend, too, and urging</a> startups to go public instead of raising more money. (Salesforce is one of the biggest corporate investors of cloud based startups and, as we mentioned, it's an investor in Anaplan, too.)</p><h2>Healthy pressure</h2><p><span>Laluyaux says that this kind of pressure is good for the startup world. </span>Anaplan's first round, in the spring of 2014, was just before unicorn madness really started, when the soft economy was finally lifting itself out of the doldrums.</p><p>"This is actually the second time that we raise in 'difficult markets' - our last round was in spring 2014- and I think it is actually a pretty healthy process," <span>Laluyaux says.</span></p><p><span>For this round, Anaplan was trying to raise $75 million, he said, and "ended up raising a little bit more." </span></p><p><span>Most important to him was finding international partners to help him expand overseas, particularly in India and Asia, which he feels he got with new investor Premji, he says.</span></p><p><span>As for the $1.09 valuation, he calls it "a</span><span> solid valuation based on 2016 revenue multiple - but not a crazy one- which I think is very healthy in the long term," he says. He says if he couldn't raise money with good terms, he wouldn't have done it. </span></p><p>Anaplan says it's still growing fast, with <a href="https://www.anaplan.com/press-releases/anaplan-continues-hyper-growth-with-134-percent-revenue-increase/">revenues up 134% year-over-year</a> in the first half it its fiscal 2016. It counts 50,000 employees as users, and 325 global companies as customers, with over 100 partners developing add-on apps for it.</p><p>Anaplan hasn't discussed recent revenues figures, but some time ago t<a href="http://www.businessinsider.com/excel-killer-startup-grows-10m-a-month-2014-5">he company told Business Insider </a>that it grew from making about $10 million in all of 2012, to $10 million per quarter in 2013 to $10 million per month as of Jan. 2014.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/regret-avoidance-in-lottery-tickets-powerball-sell-profit-probability-cognitive-bias-2016-1">We tested an economic theory by trying to buy people's Powerball tickets for much more than they paid</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VlOTU2MDE6tCw0GqSor_wM7L40EQEVfv" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Excel-killer Anaplan just raised another $90 million proving that VC money 'has not disappeared'

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Domo</span></p><p class="caption">Domo founder and CEO Josh James</p></div><p></p></div></div></p><ul><li><strong>After talking about an IPO for years, 2018 may actually be the year that $2 billion data-crunching startup Domo goes public.</strong></li><li><strong>The company reportedly took the first step towards filing its IPO paperwork.</strong></li><li><strong>Domo burst onto the scene in 2015 and was worth $2 billion before many people had heard of it.</strong></li><li><strong>It is backed by heavy hitter investors like BlackRock, Greylock and Benchmark.</strong></li></ul><p><br />Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move.</p><p>The company held its "organizational meeting" last week, which is a first step as a company files the IPO paperwork, <a href="https://www.recode.net/2018/4/5/17201052/domo-software-ipo-josh-james-utah">Recode's Theodore Schleifer reported</a>. A Domo spokesperson declined comment.</p><p>In 2015, Domo burst onto the scene with little warning. It hit a $2 billion valuation by 2016, before many people had even heard of it. People called it <a href="http://venturebeat.com/2015/05/02/insta-unicorn-domo-cmo-on-growth-martech-big-data-and-radical-simplicity/"> an "insta-unicorn,"</a><span> meaning that by the time the tech world was paying attention, investors had already poured enough money into it that it was valued at more than $1 billion.</span></p><p>Domo has raised nearly $730 million in venture funding all told, and was valued at $2.28 billion in 2017, after its latest $115 million round in December 2017. It is backed by some heavy hitters including <span>BlackRock, Greylock and Benchmark. Indeed, Greylock's Aneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo.</span></p><p><span>Domo offers cloud software for "business intelligence and analytics." It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. It competes with a <a href="https://www.g2crowd.com/categories/business-intelligence">whole slew of other business-intelligence tools,</a> including Tableau and Anaplan.</span></p><p>Domo is led by its charismatic founder CEO Josh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. </p><p>However, in 2016, <a href="http://www.businessinsider.com/insiders-say-startup-domo-is-a-lot-of-hype-2016-5">Domo insiders told Business Insider </a>that some of the company's offerings were still somewhat immature at that point, and that the company tended toward hype, as many startups often do.</p><p>James has been talking about this IPO since 2015. But the time may be finally be right. 2018 is already shaping up to be <a href="http://www.businessinsider.com/pluralsight-confidentially-filed-for-ipo-2018-4">a good year for enterprise tech IPOs</a> with Dropbox now public and Pluralsight, Zuora, DocuSign, SmartSheet, and Pivotal all filing their paperwork and waiting in the wings.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/video-dropbox-ceo-drew-houston-ipo-interview-2018-3">Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO</a></h3>        <div>                    </div>    </div>

Domo, the Utah startup that came out of nowhere with a $2 billion valuation, could go public this year

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Illumio</span></p><p class="caption">Illumio CFO Anup Singh</p></div><p></p></div></div></p><ul class="summary-list"><li><strong>On Thursday, cybersecurity startup <a href="https://www.businessinsider.com/category/illumio">Illumio</a> announced it closed $64 million in Series E funding.</strong></li><li><strong>It also hired Anup Singh, who previously worked at <a href="https://www.businessinsider.com/category/anaplan">Anaplan</a>, as CFO.</strong></li><li><strong>Illumio says that having Singh on board as CFO will help build a durable company for the long run, but won't commit to holding an IPO. </strong></li><li><strong>Illumio, a competitor of <a href="https://www.businessinsider.com/category/cisco">Cisco</a> and <a href="https://www.businessinsider.com/category/vmware">VMware</a>, helps its customers tackle cybersecurity by isolating individual apps on a network, securing them separately from each other. </strong></li></ul><p><span style="font-weight: 400;">Cybersecurity startup Illumio just raised a major round of funding that will help it take on Cisco and VMware. And on top of that, it just hired a CFO, ahead of its grand vision of going public some day. </span></p><p><span style="font-weight: 400;">On Thursday, </span><a href="https://www.businessinsider.com/illumio-is-now-worth-1-billion-2015-4"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> announced the closing of $65 million in Series E funding, in a round led by clients </span><span style="font-weight: 400;">advised by J.P. Morgan Asset Management. In total, it has raised $332.5 million in funding.</span></p><p><span style="font-weight: 400;">Although he did not disclose its valuation, CEO and co-founder </span><a href="https://www.businessinsider.com/the-most-important-people-in-silicon-valley-enterprise-tech-scene-2015-7"><span style="font-weight: 400;">Andrew Rubin</span></a><span style="font-weight: 400;"> says it's was "a significant uptick from </span><a href="https://www.businessinsider.com/r-illumio-raises-125-million-as-cyber-security-firm-targets-sales-growth-2017-6"><span style="font-weight: 400;">our series D</span></a><span style="font-weight: 400;">" in 2017. At that time, </span><a href="https://www.businessinsider.com/44-enterprise-startups-to-bet-your-career-on-in-2019-2018-12"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> had a valuation </span><a href="https://www.businessinsider.com/r-brief-illumio-closes-125-million-series-d-led-by-jp-morgan-asset-management-2017-6"><span style="font-weight: 400;">of $1.18 billion</span></a><span style="font-weight: 400;">, according to Pitchbook.</span></p><p><a href="https://www.businessinsider.com/illumio-out-of-stealth-mode-2014-10"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> also announced it hired Anup Singh, who had previously worked as CFO of Anaplan. </span><a href="https://www.businessinsider.com/fastest-startups-to-became-unicorns-by-crossing-1-billion-valuation-list-2018-4"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> declined to comment on the possibility of one day </span><a href="https://www.businessinsider.com/tech-startups-that-could-ipo-in-2017-2016-12"><span style="font-weight: 400;">going public</span></a><span style="font-weight: 400;">, but having a CFO will help it build a sustainable and durable company that will make it possible to, perhaps, have an IPO, says Rubin. </span></p><p><span style="font-weight: 400;">"Whether we have an IPO along or not remains to be seen, but the reason why I joined is to continue to scale the company to the next level," Singh told Business Insider. "The company has a lot of opportunities to grow to a very large company. We have built a world class team. I'm super excited to work alongside the team in continuing to build the company."</span></p><p><a href="https://www.businessinsider.com/51-enterprise-startups-to-bet-your-career-on-in-2018-2017-11"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;">, which started six years ago, has grown to a 330-person global company. With the funding, </span><a href="https://www.businessinsider.com/cybersecurity-startups-raked-in-76-billion-in-vc-money-in-2017-2018-1"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> plans to expand the company's footprint and market strategy. </span></p><p><span style="font-weight: 400;">Rubin recalls that when he first co-founded the company, the service </span><a href="https://www.businessinsider.com/enterprise-startups-to-bet-on-in-2016-2015-11"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> provides - a specific type of cybersecurity tech, called segmentation - wasn't very well known. Illumio's brand of segmentation creates virtual "</span><span style="font-weight: 400;">zones" in data centers and the cloud, so that that each applications can be individually isolated and secured. </span></p><p><span style="font-weight: 400;">"In all early markets, it feels like you have to evangelize why something is important," Rubin told Business Insider. "We do not feel that way anymore. The market and customers have come around to the realization that segmentation is no longer something that seems interesting and new."</span></p><p><strong><em>Read more: </em></strong><a href="https://www.businessinsider.com/7-cybersecurity-startups-to-bet-your-career-on-in-2019-2019-1"><em><span style="font-weight: 400;">7 cybersecurity startups to bet your career on in 2019</span></em></a></p><p><span style="font-weight: 400;">Rubin says Illumio's platform is similar to an MRI machine, except instead of scanning the inside of your body for problems, it maps out applications, building a picture of how different components "talk" to each other and identifying vulnerabilities. </span></p><p><span style="font-weight: 400;">This feature makes </span><a href="https://www.businessinsider.com/best-funded-stealth-startups-2014-10"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> stand out from its larger competitors, Rubin says. What's more, Illumio's technology works for both cloud and on-premises workloads.</span></p><p><span style="font-weight: 400;">"It allows you to find and discover things that shouldn't be there," Rubin said. "Our competitors have come around to that realization. Our map and visibility is a big differentiator."</span></p><p><span style="font-weight: 400;">Rubin says that one of the biggest misconceptions about </span><a href="https://www.businessinsider.com/the-38-coolest-startups-in-silicon-valley-2015-7"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> is that it's best for financial services; a reputation it gained when </span><a href="https://www.businessinsider.com/morgan-stanley-visiting-silicon-valley-for-tech-partners-2018-6"><span style="font-weight: 400;">Morgan Stanley</span></a><span style="font-weight: 400;"> signed on as one of its early major customers. However, </span><a href="https://www.businessinsider.com/startups-didnt-exist-5-years-ago-worth-billions-2016-12"><span style="font-weight: 400;">Illumio</span></a><span style="font-weight: 400;"> has been used in government, retail, education, energy and more, says Rubin, with relevance in even more industries.</span></p><p><span style="font-weight: 400;">"It solves a problem that's a relatively new but very big problem," Rubin said. "I think that challenge of being willing to think outside of the box of building something that had never been built before, figuring out how to sell and market it - I also think it's the reason why the opportunity is as large as it is."</span></p><p class="tagline">Get the latest Cisco stock price<a href="http://markets.businessinsider.com/stock/csco-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/donald-trump-marriage-three-times-ivana-melania-marla-maples-divorce-2016-2">Meet the three women who married Donald Trump</a></h3>        <div>                    </div>    </div>

Cybersecurity startup Illumio just raised $65 million and hired its first CFO, as it pushes a new kind of cloud security tech

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Steve Jennings/Getty Images for TechCrunch</span></p><p class="caption">Qualtrics CEO Ryan Smith sold his company to SAP for $8 billion just days before its planned IPO.</p></div><p></p></div></div></p><ul class="summary-list"><li>Big tech acquirers are more willing than ever to spend big on the best companies on the market, according to a note published by the investment firm Needham.</li><li>And with the stock market currently in a correction, some of the best public companies are for sale, wrote analyst Scott Berg.</li><li>These are the five public software companies deemed most attractive to potential acquirers, according to Needham.</li></ul><p><a href="https://markets.businessinsider.com/stocks/sap-stock">SAP's</a> $8 billion acquisition of Qualtrics, just days before its planned IPO, reveals a new trend, according to analysts at Needham - acquirers are willing to spend big bucks for the best companies out there.</p><p>Companies are prioritizing "higher quality" companies over "a more blended approach, acquiring both high-growth industry leaders and more opportunistic value-orientated targets," wrote Needham analyst Scott Berg in a note to clients published Tuesday.</p><p>"While the list of public software company acquisitions has been relatively short," Berg wrote, "the aggregate valuations have been at a premium level that we consider to be at the upper end of historical ranges."</p><p>Now with the stock market in a correction, even high-growth and otherwise well-placed public software companies suddenly look like they could be for sale - which is great news for large acquirers.</p><p>Neeham chose these five companies based off the criterea that they all have "consistent growth with strong ownership of their respective end markets." It also excluded recently-public companies like Anaplan and Zuroa since leadership has indicated that they wish to stay independent, as well as larger SaaS companies like Salesforce, which few acquirers could afford.</p><p>Here's who Needham thinks are the most attractive software companies for potential acquirers.</p><h4>Read more: <a href="https://www.businessinsider.com/blackberry-cylance-acquisition-insiders-2018-11">Insiders explain why BlackBerry's $1.4 billion acquisition of Cylance could be the last endpoint security deal of its size</a></h4>

Wall Street thinks these 5 public software companies could get acquired in mega-deals amid the market downturn

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Good morning! Here's the technology news you need to know this Friday.</p><p><strong>1. <a href="http://uk.businessinsider.com/foursquare-ceo-dennis-crowley-is-out-2016-1" target="_blank">Foursquare has appointed COO Jeff Glueck as its new CEO</a>. </strong>It has also has raised $45 million (£31 million) from Morgan Stanley and a bunch of its earliest investors<strong>.</strong></p><p><strong>2. <a href="http://uk.businessinsider.com/eu-to-meet-member-states-to-talk-about-sharing-economy-2016-1" target="_blank">The EU is going to look at how its member states are blocking companies like Uber and Airbnb</a>. </strong>Each of Europe's 28 member states have their own set of laws that US technology giants and others must try and navigate when they expand to the continent.</p><p><strong>3. <a href="http://uk.businessinsider.com/spotify-flag-half-mast-david-bowie-2016-1" target="_blank">Spotify's office in San Francisco is flying its flag at half mast this week in memory of David Bowie</a>. </strong>Bowie died after an 18-month battle with <a href="http://www.businessinsider.com/david-bowie-dies-2016-1">cancer</a> at age 69, on Sunday night, January 10.</p><p><strong>4. <a href="http://uk.businessinsider.com/amazon-china-gets-ocean-freight-forwarding-license-2016-1" target="_blank">Shipping software firm Flexport has obtained information that Amazon</a><a href="http://uk.businessinsider.com/amazon-china-gets-ocean-freight-forwarding-license-2016-1" target="_blank"> China has received a license to operate as an ocean freight forwarder in the United States</a>. </strong>This could be Amazon's first step toward entering the $350 billion (£243 million) ocean freight market.</p><p><strong>5. <a href="http://uk.businessinsider.com/julian-assange-questioning-ecuardor-sweden-cooperate-wikileaks-embassy-2016-1" target="_blank">The Ecuador government has reportedly agreed to cooperate with Sweden on an interrogation of Julian Assange over a rape allegation</a>. </strong>Assange, the creator of whistleblowing website Wikileaks, has lived in Ecuador's London embassy since 2012.</p><p><strong>6. <a href="http://uk.businessinsider.com/anaplan-raises-another-90-million-2016-1" target="_blank">Anaplan has raised £62 million ($89.2 million) at a valuation of £1.1 billion ($1.5 billion), becoming the North of England's first true tech unicorn in the process</a>. </strong>Total investment in Anaplan now stands at $240 million (£166 million) and the company is now looking ahead to a possible IPO.</p><p><strong>7. <a href="http://uk.businessinsider.com/googles-eric-schmidt-is-about-to-meet-the-pope-at-the-vatican-2016-1" target="_blank">Eric Schmidt, former Google CEO and executive chairman of Google's parent company, Alphabet, is going to meet Pope Francis at the Vatican in Rome</a>.</strong> The Silicon Valley billionaire, thought to be <a href="http://uk.businessinsider.com/google-billionaire-eric-schmidts-incredible-real-estate-portfolio-2015-7" target="_blank">worth around $10 billion (£6.9 billion)</a>, will reportedly meet with the Pope for just 15 minutes.</p><p><strong>8. <a href="http://www.bbc.co.uk/news/business-35320831" target="_blank">BT Group's takeover of mobile phone network EE has been given final clearance by the Competition and Markets Authority (CMA)</a></strong>. The £12.5 billion ($17.9 billion) deal brings together the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>'s largest fixed-line business and the largest mobile telecoms business.</p><p><a href="http://uk.businessinsider.com/spotify-flag-half-mast-david-bowie-2016-1" target="_blank"></a><a href="http://uk.businessinsider.com/amazon-china-gets-ocean-freight-forwarding-license-2016-1" target="_blank"></a><strong>9. <a href="http://uk.businessinsider.com/netflix-is-cracking-down-on-proxies-2016-1" target="_blank">Netflix will start cracking down on subscribers who use proxy services to access content that is "locked" in their area</a>.</strong> Because of the complicated nature of some of Netflix's licensing deals, not all shows and movies on the service are available to users all over the world.</p><p><strong>10. <a href="http://www.reuters.com/article/us-uber-china-valuation-idUSKCN0UT0C9" target="_blank">Uber CEO Travis Kalanick said that the ride-hailing firm's China unit was valued at more than $8 billion (£5.6 billion) after its latest fundraising round, over $1 billion (£690 million) more than before the effort</a>. </strong>Uber China's recently-closed Series B fundraising brought in "well over $1 billion" (£690 million), Kalanick told reporters in Beijing.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/gadget-designer-yves-behar-innovation-2015-12">Silicon Valley's most creative designer reveals the next wave of innovation - and we can't wait</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="MwMjNrdzrgf4pLDM02uGYosl_yw2msn-" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

10 things in tech you need to know today

<p class="p1"></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div><p class="p1">When Dropbox employees walked into their new office on Brannan Street last month, they were dazzled by something&#xa0;they hadn't seen before: a gleaming, 5 foot tall&#xa0;panda statue made of chrome.</p><p class="p1">The statue was made in recognition of the company's panda mascot. It was seen as a stamp of approval, signaling to&#xa0;the world that Dropbox belongs in Silicon Valley's elite club, where extravagant&#xa0;office decor has become the norm.</p><p class="p1">But next to the statue, which one source said was rumored to cost $100,000, was a little memo that offered an interesting footnote about the sculpture:</p><p class="p1">"Pandas have meant many things to Dropboxers over the years, and the idea here was to commemorate the original…it wasn't the right call," the note said. "When it comes to building a healthy and sustainable business, every dollar counts. And while it's okay for us to have nice things, it's important to remember to ask ourselves, 'would I spend my own money this way?'"</p><p class="p1">The message was clear:&#xa0;Dropbox was ready to join the multitude of startups that have started to cut back in an effort to&#xa0;inch closer to profitability.</p><p class="p1">The change at Dropbox, last valued at&#xa0;$10 billion, shows even the most richly valued and highly funded startups are no longer immune to the changing tides of Silicon Valley.&#xa0;<span>A <a href="http://www.businessinsider.com/what-happens-when-tech-boom-turns-to-bust-2016-5">weaker VC funding environment</a> and freezing tech IPO market have forced startups of all sizes to take cost cutting measures and focus more on profits -&#xa0;signifying a shift in&#xa0;the </span>free-spending, growth at all cost culture that had seeped through Silicon Valley over the past few years.&#xa0;</p><p class="p1"><span>"We're keeping the panda as a company-wide reminder of the importance of both our past and future in thoughtful spending - but it's just one example. If you spot other ways we can help Dropbox save, please share them," the note said, providing a special email address for cost-saving tips.</span></p><p class="p1"><span>Here's a photo of the panda statue:</span></p><p class="p1"><span><div>    </div></span></p><h2>Culture of frugality</h2><p><span>Dropbox has made other&#xa0;changes to its famously lavish employee perks lately, reflecting its more cutthroat attitude towards cash management.&#xa0;</span></p><p><span>In a company-wide&#xa0;</span>email in March, Dropbox said it was cancelling its free shuttle in San Francisco and its gym washing service, while pushing back dinner time by an hour to 7PM and limiting the number of guests to five per month (previously it was unlimited, a big perk given its open bar Fridays).</p><p>Those changes will have a direct impact on Dropbox's profitability. The company wrote in the&#xa0;email that&#xa0;<span>employee&#xa0;</span><span>perks in total have been costing Dropbox&#xa0;at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about&#xa0;$38 million a year.&#xa0;<span>At that scale, any kind of cost savings would help improve its bottom line. </span></span><span><span>Dropbox declined to comment.</span></span></p><p><span>Dropbox isn't the only&#xa0;high-profile startup to unleash&#xa0;a company wide cost-cutting campaign lately. A number of unicorn startups, worth over $1 billion, including Evernote, Jawbone, and Tango, have all gone through some form of cost cuts, whether layoffs, office closures, or reduced employee perks.</span></p><p><span>In a more extreme case, Prosper, last valued at $1.9 billion, disclosed that&#xa0;its CEO <a href="http://www.wsj.com/articles/prosper-marketplace-to-cut-jobs-and-shuffles-executives-1462308893">would forego his entire annual salary</a> this year, in addition to reducing its workforce. </span></p><p><span>Anaplan, a cloud software maker that raised over $230 million, replaced its CEO&#xa0;in part due to&#xa0;<a href="http://www.wsj.com/articles/business-software-maker-anaplans-ceo-steps-down-1461760716">financial issues</a>.&#xa0;</span></p><p><span>Even a smaller player like ToutApp, backed by Andreessen Horowitz, <a href="https://www1.toutapp.com/blog/growth-vs-profitability/?utm_campaign=Mattermark+Daily&amp;utm_source=hs_email&amp;utm_medium=email&amp;utm_content=29180645&amp;_hsenc=p2ANqtz-96w3Jipgn6WBYYZnxbPajDTJiwe2eryCbM2FTv23UuN2OfRUsXC2N-rxxn27hWLa7b3Yk97ZGk15P58vS7fZarkYHyAQ&amp;_hsmi=29180645">recently announced</a> that it would not do any paid event sponsorships this year in an effort to embrace "operational ruthlessness" and get closer to profitability.</span></p><p><span>A lot of this&#xa0;has to do with the slowing venture funding environment in</span>&#xa0;Silicon Valley. Investors have become much more conservative with their money&#xa0;lately, and are losing patience for startups that have failed to generate returns after&#xa0;years of free spending.</p><p><span>According to <a href="https://www.cbinsights.com/blog/downrounds-vs-new-unicorns-trend/?utm_source=CB+Insights+Newsletter&amp;utm_campaign=48b9edb66d-WedNL_04_27_2016&amp;utm_medium=email&amp;utm_term=0_9dc0513989-48b9edb66d-87018589">research firm CB Insights</a>, "down rounds," in which&#xa0;companies raise at lower valuations than previous rounds, have outpaced the number of VC-backed unicorn startups since the last quarter of 2015. A <a href="http://www.businessinsider.com/startups-pessimistic-about-raising-funds-2015-12">survey by First Round Capital</a> last year showed over 95% of the founders across all stages saying the funding environment<span>&#xa0;would either remain the same or get harder in 2016.&#xa0;</span></span></p><p><span><span>In addition, a number of VC powerplayers, such as <a href="http://abovethecrowd.com/2016/04/21/on-the-road-to-recap/">Benchmark Capital's Bill Gurley</a> and <a href="http://avc.com/2015/11/tightening-your-belt/">Union Square Ventures' Fred Wilson</a>, have become more vocal of an impending&#xa0;downturn lately, telling startups to get into "belt-tightening" mode soon.</span></span></p><p>"Because of the recent changes in the financing environment, I would guess that most startups are carefully re-thinking their spending and becoming more conservative with cash management," Matrix Partners' David Skok told Business Insider. "<span>Over the long haul, that's likely to be a very good thing, and is when the great entrepreneurs will shine."</span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></span></p><h2><span>Big startups face the same problem</span></h2><p><span>Employees at Kabam, the online gaming startup worth $1 billion, recently felt like there was a decrease in the number of office snack stands. Although the company denies it, some believe the snack stands are now placed more sporadically in order to reduce the employees' frequency of snack consumption by&#xa0;making it a little harder to get to them. That came alongside news of the startup cutting nearly 8% of its workforce to narrow its focus and cut additional costs.&#xa0;</span></p><p><span><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>For Dropbox, the cost cuts may have less to do with the state of the VC market than with its own ambitions. </span>Dropbox CEO Drew Houston has repeatedly said in the past that he doesn't need to raise capital in the private market anymore.&#xa0;</p><p>Instead, Dropbox may want to show investors that its business is strong enough&#xa0;to IPO.</p><p>The public market has been brutal to tech companies in recent months, with only one tech company floating this year, an absurdly low rate for the industry.&#xa0;<span>As more investors turn their focus to profitability, startups that burned through cash at a high rate are struggling to go public at their previously set private market valuation.</span></p><p><span><span>"The public market has shifted their mentality considerably around companies being cash flow break even," says Menlo Ventures' Matt Murphy. "When you get to a certain&#xa0;stage, you're optimizing for things that public markets care about, which is earnings per share and how quickly you'll get to cash flow positive."</span></span></p><p>The bigger problem for all startups, however, may be in retaining employees. As startups&#xa0;cut back on perks and delay their IPO, employees could grow frustrated and decide to join larger, more established companies that offer better&#xa0;benefits and stock liquidity. And if that starts to happen in droves, startups will have no one but themselves to blame.</p><p><span style="line-height: 22.5px;"><span style="font-weight: 400;">"This is not just about Dropbox. It's a reflection of what's been going on in the Valley," one of our sources said. "We were overfunded, everyone was treating us like we're recession proof."</span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/seal-reveals-what-american-sniper-got-wrong-brandon-webb-2016-4">A Navy SEAL reveals what 'American Sniper' got wrong</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="pjMHh4MjE6htkuS5FT6coIcu0IUmxDe3" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "anaplan valuation" and got 10 results

Azim Premji just pumped in $90million into cloud firm Anaplan

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Anaplan looked like another troubled unicorn - but it's back on track with a new $1.4 billion valuation

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Anaplan just raised £62 million and became the North of England's first true tech unicorn

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Excel-killer Anaplan just raised another $90 million proving that VC money 'has not disappeared'

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Domo, the Utah startup that came out of nowhere with a $2 billion valuation, could go public this year

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Cybersecurity startup Illumio just raised $65 million and hired its first CFO, as it pushes a new kind of cloud security tech

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Wall Street thinks these 5 public software companies could get acquired in mega-deals amid the market downturn

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Dropbox cut a bunch of perks and told employees to save more as Silicon Valley startups brace for the cold

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You Searched For "anaplan valuation" and got 10 results

Azim Premji just pumped in $90million into cloud firm Anaplan

BI India Bureau

Anaplan looked like another troubled unicorn - but it's back on track with a new $1.4 billion valuation

Julie Bort

Excel-Killer Startup Anaplan Just Raised $100 Million On A $1 Billion+ Valuation

Julie Bort

Anaplan just raised &#163;62 million and became the North of England's first true tech unicorn

Sam Shead

Excel-killer Anaplan just raised another $90 million proving that VC money 'has not disappeared'

Julie Bort

Domo, the Utah startup that came out of nowhere with a $2 billion valuation, could go public this year

Julie Bort

Cybersecurity startup Illumio just raised $65 million and hired its first CFO, as it pushes a new kind of cloud security tech

Rosalie Chan

Wall Street thinks these 5 public software companies could get acquired in mega-deals amid the market downturn

Becky Peterson

10 things in tech you need to know today

Sam Shead

Dropbox cut a bunch of perks and told employees to save more as Silicon Valley startups brace for the cold

Eugene Kim

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Anaplan just raised £62 million and became the North of England's first true tech unicorn