CPM platform provider reports over $450M Annual Recurring Revenue (ARR), up 37% year-over-year
OneStream Software, a leader in corporate performance management (CPM) solutions for advancing financial close, consolidation, reporting, planning and forecasting, announced that as of fiscal year ending December 31, 2023, its Annual Recurring Revenue (ARR) is above $450M, a 37% increase year-over-year, and the company was cash flow positive for the year.
During the fourth quarter, OneStream grew its customer base to nearly 1,400 customers globally, up 21% year-over-year. Notable new customers signed in this period include Elanco, Defense Information Systems Agency, Metrolinx, Perdue Farms, Vulcan Materials, and Woolworths.
“OneStream’s achievements over the past year underscore the increasingly strategic role Finance is playing in guiding business transformation and growth and the value our customers gain by leveraging our intelligent finance platform,” said Tom Shea, CEO at OneStream. “In today’s rapidly evolving business environment, our platform drives business agility to help finance organizations navigate new challenges and steer the business. By aligning financial and operational data across the enterprise, and infusing AI capabilities into planning and reporting processes, businesses can gain increased transparency and insights to help guide business direction and enable confident decision-making.”
OneStream expanded its partner network by 10 partners in EMEA and grew partnerships in the US, totaling over 250 partners globally.
“Finance leaders are under increased pressure to manage uncertainty and provide strategic guidance to the business,” said Craig Colby, President at OneStream. “Our double-digit growth in 2023 is an indicator of how organizations are prioritizing the consolidation of core finance processes, such as financial planning, reporting and forecasting, into one AI-powered platform. In the new year, we remain laser focused on empowering customers to make more informed decisions by unifying financial and operational data from multiple ERP and other systems into a single platform, all while eliminating the technical debt that comes with using multiple legacy financial applications.”
Additionally, OneStream received several industry recognitions as a leading provider of CPM solutions during the fourth quarter, including:
- Named a Leader in the 2023 Gartner® Magic Quadrant™ for Financial Planning Software.
- Named a Leader in the 2023 Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions.
- Named a 2023 Best of Award Winner by TrustRadius.
- Recognized on The Cloud Awards 2023-2024 Shortlist for Best Software as a Service (USA-Enterprise).
- Polaris and OneStream were recognized by Ventana Research as a winner in the 16th Annual Digital Leadership Awards in the Office of Finance category for leveraging Sensible Machine Learning (ML) to transform the company’s forecasting and planning processes.
- Recognized as a winner of the 2023 Michigan Top Workplaces Award by Detroit Free Press.
OneStream is hosting its annual Splash User Conference and Partner Summit in Las Vegas, NV, from May 20-23, 2024. Registration will open in early 2024. For more information, visit https://conferences.onestream.com/splash-las-vegas/.
About OneStream Software
OneStream provides an intelligent finance platform built to enable confident decision-making and maximize business impact. OneStream unleashes organizational value by unifying data management, financial close and consolidation, planning, reporting, analytics and machine learning. We empower finance and operations teams with AI-enabled insights to make faster and more intelligent decisions every single day. All in a single, modern CPM platform designed to continually evolve and scale with your organization.
OneStream is an independent software company backed by private equity investors KKR, Tidemark, Partners Fund Capital and Alkeon Capital Management. With nearly 1400 customers, more than 250 partners and roughly 1300 employees our primary mission is to deliver 100% customer success. To learn more visit www.onestream.com.
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Contacts
LeeAnn Coviello
PAN Communications
onestream@pancomm.com
