Right90, a Foster City, California-based sales forecaster, has raised $10 million in Series C funding. Horizon Ventures led the round, and was joined by return backers InterWest Partners, Shasta Ventures and US Venture Partners. The company has now raised $27 million in total VC funding.
Right90(R), the leading provider of on-demand revenue performance management, today announced it has raised $10 million in Series C financing, bringing the company’s total funding to $27 million. Horizon Ventures led the round, and all of Right90‘s existing investors – InterWest Partners, Shasta Ventures and U.S. Venture Partners – participated as well.
“Having spent many years managing corporate finance and operations functions, I know firsthand the pain points that Right90 is solving,” said John Hall, managing director of Horizon Ventures, who also joins Right90‘s Board of Directors with this announcement. “The company has proven itself with an innovative product, noteworthy customers and an impressive team, and is already recognized as a leader in sales forecasting. But we’re most excited about Right90‘s clear vision to expand into and capitalize on an even bigger market opportunity with its Revenue Performance Management solution.”
This validation by the venture community comes on the heels of strong traction with customers and partners who recognize the value of Right90‘s sales forecasting solution. Building on its proven competency in manufacturing, Right90 will use the latest round of funding to accelerate the company’s ongoing expansion into new markets, such as software, media and professional services.
“We’re thrilled to welcome Horizon to the Right90 family of investors. Their confidence in us speaks to the tremendous progress we’ve made to date,” said Kim Orumchian, CEO and co-founder of Right90. “Beyond improving the sales forecasting process, we help companies manage their top-line performance by providing real-time visibility into the financial and fulfillment consequences of an ever-changing forecast – especially in today’s times of dramatic change and uncertainty.”
Addressing the needs of small and large organizations alike, Right90 has tripled its customer base in past 12 months. Companies selecting Right90 within the past year include smartFOCUS DIGITAL, SRS Labs, and Thomson. Already a well-established Salesforce.com AppExchange partner, Right90 recently announced its selection as a preferred partner of Oracle CRM On Demand and membership in Oracle’s “Elite 8” and Inner Circle groups of best-in-class partners.
Right90 is the recognized leader in on-demand sales forecasting and revenue performance management. The Right90 solution makes it easy to capture and consolidate sales forecasts, provides a single source where sales, finance and operations teams can view and align with updated forecast information, and gives executives detailed insights into revenue performance over time. Companies in high-technology, media, communications, life sciences, energy and consumer goods have successfully deployed Right90 to increase visibility, commitment and accountability to revenue performance. For more information, visit http://www.right90.com or call 1-877-RIGHT90.