Cloud-based financial planning and reporting technology provider Adaptive Planning has secured $22 million in new venture financing, which will be earmarked for global expansion, product development and channel growth.

Investors include venture capital partners Norwest Venture Partners, Cardinal Venture Capital, Clairmont Capital, Monitor Ventures, and Onset Ventures. As part of the funding, Sergio Monsalve of Norwest Venture Partners will be joining Adaptive Planning’s board of directors.

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