Highlights:
- OneStream, a corporate performance management (CPM) company.
- It unifies customers’ financial planning processes and reporting through a single platform.
- It raises $200 million in a series B round of funding.
- OneStream integrates data from general ledger/ERP systems for financial data.
Introduction:
OneStream Software LLC is a software company that has headquarters in Rochester, Michigan. The company’s inception dates back to 2010. It develops corporate performance management (CPM) software for mid-sized to very large enterprises.
OneStream Software serves the office of finance for financial close management, financial and management reporting, financial planning, operational planning and business intelligence.
The OneStream XF SmartCPM™ platform is deployable on-premise, hosted, or as a Software as a Service (SaaS) in the cloud via Microsoft Azure. The platform supports financial close and consolidation, financial reporting, forecasting, budgeting, performance reporting and analytics oriented to the office of finance.
The XF MarketPlace offers over 50 downloadable solutions to extend the OneStream XF platform.
Tom Shea, Bob Powers and Craig Colby are the founders of OneStream Software. Tom Shea was co-founder and inventor of UpStream Software, which was acquired by Oracle as Oracle Hyperion Financial Data Quality Management (FDM).
OneStream raises $200 Million to bring intelligent financial planning.
OneStream, a corporate performance management (CPM) company that unifies customers’ financial planning processes and reporting through a single platform, has raised $200 million in a series B round of funding at a whopping $6 billion valuation.
CPM encapsulates all of the processes, systems, and methodologies an enterprise might use to track its business performance and usually involves gleaning data from myriad sources, such as enterprise resource planning (ERP), customer relationship management (CRM), and human capital management (HCM).
This Firm collects global sales transaction data through its ERP.
It is a business that collects global sales transaction data through its ERP tool wants to transform that information into something more meaningful and useful on a day-to-day basis, rather than waiting for monthly or quarterly reviews.
OneStream essentially uses the data to generate “performance signals” that they deliver each day to help execs make “mid-stream” decisions.
“OneStream helps organizations turn the data they are collecting into actionable, financially intelligent information. This is critical because traditionally it might take 30 days or more to pull insights from financial reporting.
Companies have realized especially in the midst of COVID-19 that they need to access critical data insights on company performance much faster than that. We make that intelligence available daily, and that’s game-changing.”
Investors involved in seed funding.
OneStream had bootstrapped its way to profitability ahead of a $500 million-plus investment from KKR in 2019. As a result, the company’s value reached at more than $1 billion. A new $6 billion valuation puts OneStream alongside Anaplan and Blackline, which currently hold similar valuations on the public markets.
They have a fresh $200 million from various backers. These include D1 Capital Partners, Tiger Global, and Investment Group of Santa Barbara (IGSB). Koefoed confirms that OneStream is now contemplating the transition from being a private to a public company. But he did not specify a time frame.
