BUSINESS WIRE: Planview Continues Acceleration with Record Revenue in FY’22
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Strategic investments in product innovation and customer success drive company momentum
AUSTIN, Texas --(BUSINESS WIRE)-- 30.01.2023 --
Planview, the leading platform for connected work from portfolio planning to delivery, today announced record annual recurring revenue (ARR) for fiscal year 2022, continuing a trend of strong performance. Planview exceeded $380 million in total ARR for 2022, representing 17% growth year-over-year (YoY).
“It was another record year for Planview, underpinned by our commitment to build the digital future of connected work through product innovation and customer success,” said Razat Gaurav, Chief Executive Officer, Planview. “The macroeconomic uncertainties and headwinds faced by organizations today make prioritizing product and project initiatives, and thoughtfully allocating constrained resources and capital, more important than ever. Our global customer base relies on our solutions to help them achieve productivity, efficiency, and positive business outcomes from transformation initiatives across the enterprise.”
Fiscal Year-End Highlights
Planview achieved record levels for the full fiscal year 2022:
- Total revenue surpassed $410 million for the full year
- ARR grew by over 17% YoY to over $380M
- Record 25% increase in monthly active users YoY for leading products
- Customer retention rates are up 6% YoY
Strong New Logo and Customer Momentum Driven by Product Innovation
Key customer wins and expansions have driven Planview’s profitable growth. In 2022, the company added 482 net new customers. New and notable customers who selected or expanded their footprint with Planview include: Builders FirstSource, Inc., Delta Dental of California, DS Smith, Fonterra, General Motors, Maximus, Inc., Olam International Limited, Publicis, RxBenefits, Schluter, Siemens, Sysco Corporation, T-Mobile, The Emmes Company, LLC, Tetra Pak, and UiPath.
This growth was accelerated by the success of Planview’s connected platform of solutions, which helps organizations improve time-to-value, do more with the teams and resources allocated, and de-risk strategic investment decisions. Planview’s innovation over the past year continued to drive desired business outcomes for customers. Enhancements include:
- Expanding Objective and Key Results (OKRs) capabilities, enabling access to an embedded goal framework across the enterprise
- Introducing Time-to-Market dependency and outlier analytics, ensuring organizations can focus their investments and resources where they are most needed
- Extending visual planning and prioritization support and card automation capabilities, centrally defining planning and delivery increments and streamline productivity across multiple teams
- Enhancing UX/UI functionality
Additionally, the strategic acquisitions of Tasktop and Enrich in the first half of 2022 fueled Planview’s data science, planning, connectivity, and transformation offering. The Value Stream Management solution added last year, via the Tasktop acquisition, empowers organizations to accelerate their time to market, improve operational efficiency, and drive investment confidence in the face of economic disruption and instability.
Leading industry analyst firms have named Planview a leader in several key reports last year, reinforcing Planview’s leadership in Strategic Portfolio Management (SPM), Enterprise Agile Planning (EAP), Project and Portfolio Management (PPM), and Value Stream Management (VSM). Reports include:
- The Forrester Wave™: Strategic Portfolio Management Tools by Margo Visitacion, Chris Gardner, Stephen Lowers, Sarah Morana, Sara Sjoblom, Danielle Jessee, Kara and Hartig, Q1 2022
- Gartner, Magic Quadrant for Strategic Portfolio Management by Anthony Henderson and Daniel Stang, April 18, 2022
- Gartner, Magic Quadrant for Enterprise Agile Planning Tools by Bill Blosen, Mike West, Keith Mann, Deacon D.K. Wan, Akis Sklavounakis, Hassan Ennaciri, and Sarah Davies, April 25, 2022
- Gartner, Magic Quadrant for Adaptive Project Management and Reporting by Lorri Callahan, Sarah Davies, Daniel Stang, and Anthony Henderson, August 22, 2022
- The Forrester Wave™: Value Stream Management by Chris Condo, Q4 2022
Investing in Customer Success
To support continued customer success, training and learning were areas of strategic focus and investment. The company expanded a dedicated global learning team responsible for driving the Planview instructor-led training programs, developing new, engaging e-Learning offerings, and deploying a flagship learning management system, The University of Planview. The company also expanded its Evolve Advisory Services, supporting customers with the people and process change management that is required as part of business transformation.
To help deliver successful solutions to customers across the globe, faster, Planview also expanded its partner ecosystem, including new or expanded strategic relationships with the likes of Accenture, Atos, AWS, Deloitte, Infosys, and PwC, among others.
Planview Expands to Support Global Customer-base
Offering additional support for a more global customer base, Planview made strategic hires across its product development, customer success, sales, and marketing functions. Scaling up the company’s global operations, Planview opened a new regional office in Singapore and invested heavily in growing the company’s Global Capacity & Innovation Center in Bangalore, increasing its headcount in APAC by 65%.
To learn more about Planview, visit: www.planview.com.
Planview has one mission: to build the future of connected work, from ideas to impact. Planview helps organizations accelerate the achievement of what matters most, supporting our customers from need to speed, from passion to progress, and from overhead to optimization. Our connected platform of solutions underpins the business and digital transformations of more than 4,500 customers globally, including 59 of the Fortune 100. Planview empowers enterprises to improve time-to-market and predictability, increase efficiency to unlock capacity, and ensure their most strategic initiatives deliver the desired business outcomes. Learn more about our portfolio at planview.com, and connect with us on LinkedIn and Twitter.
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