OneStream Software reports jump in sales

ROCHESTER–Officials at OneStream Software, developers of corporate performance management (CPM) software, announced 188% year-over-year bookings growth in the second quarter of 2021 and 200% year-over-year bookings growth for the first half of 2021.

OneStream also reported over 100% year-over-year growth in annual recurring revenue as of June 30.

The privately held company didn’t release dollar figures.

The company reported 48% year-over-year growth in its customer base, reaching a total of more than 750 customers around the world. New customers added in the first half of 2021 include: Curtiss-Wright, Dr. Martens, Nordson, Omni Hotels & Resorts, Pendragon PLC, Sherwin-Williams, The Toro Company and Utz Brands (NYSE: UTZ).

OneStream has also added 20 new partners in the first half of the year, including Accordion Partners, Performance Architects, PwC Belgium, PwC Romania, PwC UK and Raymond Chabot Grant Thornton.

OneStream has hired over 200 new employees since the beginning of the year, reaching a total headcount of 850 employees across 17 countries.

OneStream officials say their software replaces spreadsheets and legacy applications such as Oracle Hyperion, SAP BPC and IBM Cognos. Additionally, the platform is replacing cloud-based point software to unify financial processes such as financial close, consolidation, planning, reporting and analysis.

In April, OneStream secured $200 million in new venture funding from D1 Capital Partners along with Tiger Global and Investment Group of Santa Barbara to accelerate global expansion and innovation across its unified platform and solutions marketplace.

Looking ahead to the second half of the year, the company remains focused on product innovation and expanding its geographic footprint to continue supporting growing market demand. OneStream has signed a lease for a new headquarters in Birmingham with occupancy expected by the end of 2021.

“We remain committed to driving 100% customer success, partnering with clients as we navigate a post-pandemic landscape to continue delivering innovative planning, reporting and analysis solutions,” said Tom Shea, CEO of OneStream. “Our continued sales momentum and growth in customers is a testament to the market opportunity as finance teams seek to lead at speed in today’s fast-paced and complex business environment.”

The company also released new solutions for the OneStream MarketPlace, including a product called Application Control Manager, helping organizations provide control and governance over application change requests. Downloadable from the OneStream MarketPlace and instantly deployed in the customer’s existing application, the software provides an easy way for end-users to request changes to OneStream applications and provides multi-level approval workflow around change requests.

“The disruptions from the pandemic served as an impetus for organizations to digitally transform their finance function, seeking solutions that enable deeper business insights and right-time decision making,” said Craig Colby, president of OneStream. “OneStream’s unified, cloud-based platform offers digital resiliency for organizations to minimize the impact of future disruptions, manage risk and capitalize on market opportunities to drive improved performance.”

The company will host its annual Splash User Conference and Partner Summit in Orlando, Fla. Aug. 30-Sept. 2 with hybrid in-person and virtual attendance options. To learn more and to register for the conference, visit https://splash.onestreamsoftware.com. More about OneStream at www.onestreamsoftware.com.

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