Tidemark, the company that makes cloud-based financial planning and analysis software aimed at large companies, says it has closed a $25 million investment round that includes a strategic investment from Workday.
Tidemark Raises $25 Million Round, Adds Workday as Investor
Tidemark’s ties to Workday go way back.
Via Tidemark
The new money brings Tidemark’s total capital raised to about $118 million; it is the company’s sixth round of funding.
Tidemark specializes in helping businesses analyze their data to see patterns in things like regional sales, but also to model potential scenarios in the future. Essentially, you can use it to ask the question, “How is the business doing right now?” and then pivot easily to, “What would happen if I change this or that?”
Tidemark calls it “enterprise performance management”: The application grabs data from existing applications that track sales processes, manufacturing and the supply and distribution chains.
Without specifying an amount, Tidemark said in a statement that revenue in the first quarter quadrupled over the same period last year. It has recently landed customers including hotel chain La Quinta Holdings and cloud software firm Zuora and also opened offices in the U.K., France and the Netherlands.
CEO Christian Gheorghe (pictured) is a former jazz guitarist from Romania who moved to New York in the 1990s and took a job as a limo driver. It was a customer in one of his cars who helped him launch a career in software by giving him a job at a company that was eventually sold to Experian. He later spent about five years at the German software giant SAP, including a stint as its CTO by way of that company’s acquisition of OutlookSoft. He then spent about nine months at Entrepreneur in Residence at Greylock.
Prior investors Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital and Silicon Valley Bank all participated in the funding round. Workday CEO Aneel Bhusri, a longtime partner at Greylock, had until recently been a member of Tidemark’s board, but is no longer listed as a director on its website. Dave Duffield, Workday’s co-founder and chairman, also made a personal investment in Tidemark.
This article originally appeared on Recode.net.
See More:
