Mountain View, Calif.'s Adaptive Planning will hire 65 new employees this year after raising $22 million in new venture financing last month from investors led by Norwest Venture Partners. Founded in 2003, the company currently has 100 employees.
Adaptive makes software to help small to mid-size businesses plan, forecast and manage their budgets. The cloud-based service allows companies to visualize data and analytics in a more sophisticated way than they can currently with Microsoft Excel, said Chief Executive John Herr.
The bulk of the company's new hires will be in engineering and sales. The company wants engineers experienced in Java who also have enterprise experience, as well and quality assurance engineers. Sales positions will be located across the U.S.
Herr declined to discuss the company's revenue, but said Adaptive has 1,200 active customers. Compensation for technical employees can reach the six-figure plus range for experienced hires. Equity is also available for new hires.
Herr interviews each new employee, and says he looks for candidates who exhibit a focus on customer satisfaction.
Write to Joseph Walker at Joseph.Walker@dowjones.com
