Plannuh, a software-as-a-service or SaaS firm automating core marketing leadership processes such as planning, financial management, and optimization of business outcomes, reveals that it has finalized a $4.1 million equity round that was led by Ripple Ventures.
Existing investors Glasswing Ventures, an early-stage VC firm investing in the next-gen of intelligent enterprise and frontier tech startups, and Gradient Ventures, Google’s AI-focused venture fund, also made contribution’s to Plannuh’s investment round, which comes as Plannuh sees “significant growth amid expanded product offerings.”
Plannuh, which assists businesses with enhancing the value of their marketing by consolidating various marketing plans, budgets, and metrics into a Cloud-powered system for greater visibility and collaboration, has “increased its annual recurring revenue more than six times in the last 12 months and added more than 50 customers.”
As noted in update shared with CI, the firm has now added key capabilities to the Plannuh app, such as a sophisticated new metrics “tracking system and enhanced ROI measurement, new integrations with HubSpot and Salesforce, and a major AI-driven expense ingestion technology release to automate expense capture and reconcile with financial systems.”
Plannuh’s management noted that they’ll use the proceeds to “accelerate the development of automated planning and budgeting workflows, including incremental integrations and AI-based forecasting and recommendations.”
Peter Mahoney, founder and CEO at Plannuh, stated:
“We have seen a huge wave of interest in our platform from leading marketers who value our agile approach to planning and executing their marketing agenda as a strategic advantage. The investment from Ripple Ventures, and our long-time investors Glasswing and Gradient will allow us to further accelerate customer acquisition and continue to enhance our product platform, with particular focus on additional integrations and automation.”
Matt Cohen, Managing Partner, Ripple Ventures, remarked:
“It is well known that finance and marketing teams often do not see eye to eye. This largely stems from the fact that finance teams are numbers-driven, and historically marketing teams have struggled to demonstrate the value that advertising campaigns have on revenue. Another major issue for marketing teams is that most of their planning, budgeting, and expense tracking is done manually, either on paper or in Excel.”
Cohen added that Plannuh aims to address these inefficiencies and “help quantify the effectiveness of marketing spend, thus reducing the friction between marketing and finance departments, and helping marketing teams get better results.” He also noted that this is what “makes us so excited to lead this investment round in Plannuh alongside an amazing group of investors.”
Rudina Seseri, Founder and Managing Partner, Glasswing Ventures, remarked:
“Plannuh’s AI-driven marketing automation platform is a game-changing solution to marketing’s planning crisis, effectively putting a stop to marketing budget waste. From pre-seed to today, we have seen how Plannuh’s exceptional team led by Peter Mahoney and Scott Todaro, has been able to execute on their plan to deliver a single source of truth for budgeting, planning, and execution, and realize incredibly strong customer traction.”
Zach Bratun-Glennon, Partner at Gradient Ventures, noted that Plannuh offers a robust automation platform that brings together real-time financial data with marketing and sales outcomes, “delivering unique data and insights daily.”
