OneStream Software in Rochester, which offers an intelligent finance platform for enterprises, reports it has secured $200 million in series B funding and a valuation of $6 billion.
D1 Capital Partners led the all-primary funding round with participation from Tiger Global and Investment Group of Santa Barbara. The financing will be used to accelerate OneStream’s global expansion and innovation across its intelligent finance platform and solutions marketplace.
OneStream achieved 86 percent growth in annual recurring revenue in 2020, scaling its customer base by 40 percent over 650 enterprises worldwide. The company says its sales growth accelerated with more than 200 percent growth in bookings and 100 percent growth in annual recurring revenue in the first quarter of 2021 year-over-year.
“We remain sharply focused on delivering innovative planning, reporting, and analysis solutions designed to help our customers succeed in today’s fast-paced and increasingly complex business environment,” says Tom Shea, CEO of OneStream.
D1 Capital Partners, Tiger Global, and Investment Group represent long-term investors in companies around the world. The capital will enable OneStream to serve the market for its intelligent finance platform across financial and operational needs.
OneStream unifies corporate performance management processes such as planning, financial close and consolidation, reporting, and analytics through a single solution, which is designed to support faster and more informed decision making. It has more than 650 customers, 200 partners, and 700 employees, and its offices are in the U.S., Europe, and Australia.
D1 is a global investment firm that operates across public and private markets. It was founded in 2018 and focuses on investing in the global internet, technology, telecom, media, consumer, health care, financial, industrial, and real estate sectors.