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Anaplan’s IPO could fetch USD 303mn
Posted on Wednesday, 10 October 2018 12:45
Cloud-based business planning and performance management platform Anaplan could raise as much as USD 303.03 million in an initial public offering (IPO) on the New York Stock Exchange that is aimed at increasing financial flexibility and visibility in the marketplace.

The San Francisco-headquartered enterprise software company is issuing 15.50 million shares at USD 15.00 to USD 17.00 apiece and has provided underwriters – including Goldman Sachs and Morgan Stanley - with an overallotment option of 2.33 million stocks.

At the moment, the business does not have any specific plans for the proceeds, though money could be used for working capital and for other general corporate purposes, including funding operating needs.

In a concurrent private placement, Anaplan will sell USD 20.00 million-worth of shares to Premji Invest, which currently has a pre-IPO stake of 7.4 per cent and is joined as a backer in the company by the likes of Granite Ventures, Meritech Capital Partners and Coatue Management, among others.

As a connected planning platform, the business has created a single global quota process and workflow system for HP, and has established a procedure that provides users across the sales department of VMware with a single view of data needed for each planning cycle.

The company had 979 customers as of 31st July 2018, of which 220 were members of the Global 2000 and accounted for 56.0 per cent of total revenue in the six months ended 31st July 2018.

Anaplan addresses “a very large existing market of legacy and emerging business software categories, which are tracked in market research studies”.

The worldwide performance management and analytic applications software sector, which includes applications for customer relationship, workforce and supply chain management, is forecast to be around USD 17.00 billion in 2018 and to grow to USD 21.00 billion by 2021, according to the prospectus.

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