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Adaptive Planning Hires Alliances Executive Carolee Gearhart as the VP of Global Channels, Announces Accelerated Partner Program Momentum

Gearhart Joins With Exceptional Experience in Enterprise Channels With SAP and PeopleSoft to Lead Rapidly Expanding Global Partnership Alliances for Adaptive Planning

MOUNTAIN VIEW, CA -- (Marketwire) -- 01/17/13 -- Adaptive Planning, the worldwide leader in cloud business analytics solutions for companies and nonprofits of all sizes, today announced at its Worldwide Partner Forum the appointment of Carolee Gearhart as its Vice President of Global Channels & Partners. Gearhart brings deep experience in driving strategic partner success in enterprise software with nearly twelve years in senior executive partnership roles at SAP and PeopleSoft.

Gearhart joins Adaptive Planning as the company announces record growth of its leading network of more than 400 worldwide partners and its customer base of more than 1500 customers in 80 countries. New software bookings grew over 90 percent in 2012. With its growing product breadth and increasing market momentum, Adaptive Planning has added more than 100 partners in 2012. This partner channel influences 50 percent of the company's rapidly growing business. Channel partners helped to win many new enterprise accounts, including Adidas, Bridgestone, Fujitsu, SAB Miller Brewing Company, and Toyota.

The announcement comes on the first day of the company's Worldwide Partner Forum, an annual gathering of key partners from around the world to share strategies and best practices and to continue to accelerate business opportunities for Adaptive Planning's solutions.

"I am thrilled to be joining Adaptive Planning, a high growth company that has already built a thriving channel ecosystem," said Carolee Gearhart. "As the company continues to expand market opportunities, particularly in new global regions and with new product lines, I look forward to engaging with partners in accelerating, driving and optimizing channel opportunities. I'm excited about embracing the power and enthusiasm of the partners to amplify the passion that customers have shown for Adaptive Planning as a product and a company."

Gearhart brings solid experience in channel and strategic alliance leadership roles at large enterprise software companies. Carolee's roles at SAP included Global Vice President of OEM, Head of the Strategic Partner Organization, and Vice President of Business Development where she managed more than $1 billion of annual revenues in systems integration partnerships, owned $200 million in resale license revenues and $100 million in OEM revenues. Her team included a 100+ employee organization, and delivered 15 percent growth in revenues from top tier partners. At PeopleSoft, she held the position of Vice President of Global Channels where she built and owned the global strategic plan and business development, and expanded initial channel revenues from $0 to $21 million in one year. Before PeopleSoft, Gearhart held a Senior Consultant position at Deloitte & Touche.

As the Vice President of Channels at Adaptive Planning, Gearhart will join the senior executive team reporting to the CEO to usher in renewed global expansion and channel programs.

"We are delighted that Carolee has joined Adaptive. She brings an exceptional background and proven leadership in ratcheting partnerships and alliance success to the next level," said John Herr, CEO of Adaptive Planning. "Her expertise will be valuable as we develop and nurture key channel partners to support this expansion internationally and within larger businesses. Our robust global partner ecosystem has helped Adaptive scale rapidly around the world. It is a cornerstone of our high velocity business model, making us the #5 fast-growing software-company in Silicon Valley, according to the Deloitte Fast 500 list."

Carolee joins at a period of accelerated growth for Adaptive Planning, particularly in larger enterprises. Adaptive Planning's corporate performance management (CPM) and business intelligence (BI) solutions are in use by some of the world's most recognized brands such as Siemens, Philips, and Konica Minolta, as well as high-growth companies such as Jive Software, DocuSign, and NetSuite. The company achieved record growth in new software bookings for 2012, and announced a breakthrough new visual discovery solution and acquisition of myDIALS, the leading provider of cloud data visualization solutions. With these results and milestones, Adaptive Planning continues to strengthen its position as the leading provider of cloud-based CPM and BI solutions.

About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based business analytics solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.

Adaptive Planning is used by over 1,500 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 5th fastest growing software company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 80 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 400 worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.

Contact:

Stephanie Evans
GlobalFluency
650-433-4163
[email protected]

Derek Kober
Adaptive Planning
650-810-2486
[email protected]

Adaptive Planning
650-528-7500
www.adaptiveplanning.com

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