Press release: OneStream Software continues strong sales and customer growth in second quarter
CPM software provider bookings were up 188 percent in the second quarter, capping a record first half.
OneStream Software, a leader in corporate performance management (CPM) solutions for the world’s leading enterprises, announced 188 percent year-over-year bookings growth in the second quarter of 2021 and 200 percent year-over-year bookings growth for the first half of 2021. OneStream also reported over 100 percent year-over-year growth in Annual Recurring Revenue (ARR) as of June 30.
The company reported 48 percent year-over-year growth in its customer base, resulting in more than 750 customers globally. New customers added in the first half of 2021 include: Curtiss-Wright, Dr. Martens, Nordson, Omni Hotels & Resorts, Pendragon PLC, Sherwin-Williams, The Toro Company (NYSE: TTC) and Utz Brands (NYSE: UTZ). OneStream has also added 20 new partners in the same timeframe, including Accordion Partners, Performance Architects, PwC Belgium, PwC Romania, PwC UK and Raymond Chabot Grant Thornton.
OneStream has hired over 200 new employees since the beginning of the year, with a total headcount of 850 employees across 17 countries. The company added several new industry experts to the executive team. Global Education Services VP Beverly van de Velde joined OneStream from Symantec, Software Architect VP Ryan Berry joined OneStream from Microsoft, MarketPlace senior VP Jason Fitzgerald joined OneStream from The Hackett Group, and Commercial Markets senior VP Scott Leshinski joined from Huron Consulting Group.
OneStream’s Intelligent Finance Platform continues to replace spreadsheets, multiple legacy applications, such as Oracle Hyperion, SAP BPC and IBM Cognos, as well as cloud-based point solutions to unify financial processes such as financial close, consolidation, planning, reporting and analysis.
In April, OneStream secured $200 million in new venture funding from D1 Capital Partners along with Tiger Global and Investment Group of Santa Barbara to accelerate global expansion and innovation across its unified platform and solutions marketplace.
Looking ahead to the second half of the year, the company remains focused on product innovation and expanding its geographic footprint to continue supporting growing market demand. OneStream has signed a lease for a new headquarters facility in Birmingham, Michigan with occupancy expected in Q4 2021.
“We remain committed to driving 100 percent customer success, partnering with clients as we navigate a post-pandemic landscape to continue delivering innovative planning, reporting and analysis solutions,” said Tom Shea (pictured), CEO of OneStream. “Our continued sales momentum and growth in customers is a testament to the market opportunity as finance teams seek to lead at speed in today’s fast-paced and complex business environment.”
The company also released new solutions for the OneStream MarketPlace, including the Application Control Manager Solution, helping organizations provide control and governance over application change requests. Downloadable from the OneStream MarketPlace and instantly deployed in the customer’s existing application, the solution provides an easy way for end-users to request changes to OneStream applications and provides a multi-level approval workflow around change requests.
“The disruptions from the pandemic served as an impetus for organizations to digitally transform their finance function, seeking solutions that enable deeper business insights and right-time decision making,” said Craig Colby, President of OneStream. “OneStream’s unified, cloud-based platform offers digital resiliency for organizations to minimize the impact of future disruptions, manage risk and capitalize on market opportunities to drive improved performance.”
In the first half of 2021, OneStream strengthened its position as a leading provider of CPM solutions by receiving several industry recognitions, including:
- Earned 58 top marks and 34 leading positions across four peer groups, as well as a 100 percent recommendation score in BARC Planning Survey
- Recognized as a market leader in the BARC Score Financial Performance Management Global Report
- Received the highest rating among all vendors and recognition as a Gartner Peer Insights Customers’ Choice for Cloud Financial Planning and Analysis Solutions
- Recognized as a leader in the 2021 Nucleus Research CPM Technology Value Matrix for the fourth consecutive year
- Named a market leader and earned a perfect recommend score in the 2021 Wisdom of Crowds® Enterprise Performance Management Market Study by Dresner Advisory Services
- OneStream was also named to Inc. Magazine’s List of Best Workplaces for 2021 as well as named to the United States Top Workplaces 2021 by Energage.
The company will host its annual Splash User Conference and Partner Summit in Orlando from August 30 – September 2 with hybrid in-person and virtual attendance options. To learn more and to register for the conference, visit https://splash.onestreamsoftware.com.