Growing 6X Year-Over-Year, Plannuh Closes a $4 Million Round to Expand AI-Driven Marketing Leadership Automation Platform
This is what makes us so excited to lead this investment round in Plannuh alongside an amazing group of investors."
BOSTON, Sept. 21, 2021 /PRNewswire/ -- Plannuh, a SaaS company automating core marketing leadership processes including planning, financial management, and optimization of business outcomes, today announced it closed a $4.1 million equity round led by Ripple Ventures. Existing investors Glasswing Ventures, an early-stage venture capital firm investing in the next generation of intelligent enterprise and frontier tech startups and Gradient Ventures, Google's AI-focused venture fund, participated in the round, which comes as Plannuh sees significant growth amid expanded product offerings.
Plannuh, which helps businesses prove and improve the value of their marketing by consolidating all marketing plans, budgets, and metrics into a single cloud-based system for full visibility and collaboration, has increased its annual recurring revenue more than six times in the last 12 months and added more than 50 customers. The company also added several key capabilities to the Plannuh application, including a sophisticated new metrics tracking system and enhanced ROI measurement, new integrations with HubSpot and Salesforce, and a major AI-driven expense ingestion technology release to automate expense capture and reconcile with financial systems. Plannuh will use the funds to accelerate the development of automated planning and budgeting workflows, including incremental integrations and AI-based forecasting and recommendations.
"We have seen a huge wave of interest in our platform from leading marketers who value our agile approach to planning and executing their marketing agenda as a strategic advantage," said Peter Mahoney, founder and CEO of Plannuh. "The investment from Ripple Ventures, and our long-time investors Glasswing and Gradient will allow us to further accelerate customer acquisition and continue to enhance our product platform, with particular focus on additional integrations and automation."
"It is well known that finance and marketing teams often do not see eye to eye," said Matt Cohen, Managing Partner, Ripple Ventures. "This largely stems from the fact that finance teams are numbers-driven, and historically marketing teams have struggled to demonstrate the value that advertising campaigns have on revenue. Another major issue for marketing teams is that most of their planning, budgeting, and expense tracking is done manually, either on paper or in Excel. Plannuh is on a mission to solve these inefficiencies and help quantify the effectiveness of marketing spend, thus reducing the friction between marketing and finance departments, and helping marketing teams get better results. This is what makes us so excited to lead this investment round in Plannuh alongside an amazing group of investors."
"Plannuh's AI-driven marketing automation platform is a game-changing solution to marketing's planning crisis, effectively putting a stop to marketing budget waste," said Rudina Seseri, Founder and Managing Partner, Glasswing Ventures. "From pre-seed to today, we have seen how Plannuh's exceptional team led by Peter Mahoney and Scott Todaro, has been able to execute on their plan to deliver a single source of truth for budgeting, planning, and execution, and realize incredibly strong customer traction. Plannuh is an indispensable tool for every marketing organization, increasing alignment, and productivity while improving marketing ROI, and top-line growth. We are excited to continue to invest in Plannuh, alongside co-investors Gradient Ventures and Ripple Ventures."
"Plannuh provides a powerful automation platform combining real-time financial data with marketing and sales outcomes, delivering unique data and insights daily," said Zach Bratun-Glennon, Partner at Gradient Ventures. "Marketing and sales teams have increasing demand for Plannuh in order to prove the value of their investments, optimize and reposition spend, and drive growth with continuous, accurate feedback."
In addition to Plannuh's record growth, the company has also launched:
- The Operational Marketing Index for measuring planning and budget effectiveness
- The second edition of its book, "The Next CMO: A Guide to Operational Marketing Excellence"
- The Next CMO Community, an online community of 10,000 members dedicated to current and aspiring CMOs, with exclusive content on improving strategic and operational marketing
- The Plannuh Customer Advisory Board
About Ripple
Ripple Ventures is an early-stage venture firm specializing in seed funding for the next generation of B2B SaaS companies. Based in Toronto, Ripple identifies and invests in the founders of tomorrow by creating a community focused on inclusivity, education, and personal growth. For more information, visit www.rippleventures.com.
About Glasswing
Glasswing Ventures is an early-stage venture capital firm dedicated to investing in enterprise, platform and security startups that harness the power of AI and frontier technologies to transform markets and revolutionize industries. Glasswing partners with founders to help them assemble powerhouse teams, acquire first customers, and secure the right foundation to launch and accelerate their startups to their full potential. For more information about the firm, visit www.glasswing.vc.
About Gradient
Gradient Ventures is Google's AI-focused venture fund — investing in and connecting early-stage startups with resources, innovation, and technical leadership in artificial intelligence. The fund focuses on helping founders navigate the challenges in developing new technology products, using the latest best practices in recruiting, marketing, design, and engineering so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit www.gradient.com.
About Plannuh
Marketers looking to prove and improve the business value of their marketing use Plannuh, the first cloud-based Marketing Leadership Platform, to quickly and easily create winning plans, maximize budget impact, and measure true performance. Unlike disconnected, static spreadsheets and disparate tactical marketing systems, only Plannuh offers a unified, collaborative platform that delivers AI-driven process automation for achieving agility, efficiency, and industry-leading marketing performance. To learn more, visit www.plannuh.com.
Media Contact
Kourtney Evans
Bospar for Plannuh Inc.
[email protected]
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SOURCE Plannuh, Inc.
