Anaplan files for IPO a week after hiring its finance chief through Tesla

A week ago Dave Morton left Tesla, where he spent just one month, to become chief financial officer of Anaplan. right now he’s preparing for an IPO.

Anaplan, which makes cloud-based business planning software, filed its prospectus with the SEC on Friday. This specific joins a crop of enterprise software companies to hit the public markets This specific year, following the debuts of DocuSign, Avalara, Zuora in addition to Domo. Elastic in addition to SurveyMonkey are both on file.

The company’s revenue in 2018 jumped 40 percent to $168.4 million, in addition to This specific reported a net loss of $47.6 million.

Considering how central a CFO is actually to a company’s IPO process, Morton incorporates a huge job in front of him, in addition to is actually just seven days into his fresh role. After his short stint as Tesla’s chief accounting officer, Morton left because executives there, including CEO Elon Musk, were not carefully considering or listening to his advice, CNBC previously reported. In its risk factors, Anaplan said, “our senior management team, including members of our financial in addition to accounting staff, has worked at the company for a limited time.”

Anaplan’s filing says Morton has been CFO since September 2018. The company is actually paying him a base salary of $350,000 having a bonus as high as $245,000. He has the option to purchase 0,000 shares in addition to was awarded 950,000 restricted stock units of which are subject to vesting periods.

Anaplan says This specific competes with IBM, Oracle in addition to SAP, along with Adaptive Insights, which was recently acquired by Workday. Investors include Coatue Management, Granite Ventures, Meritech Capital, Premji Invest in addition to Shasta Ventures.

The San Francisco-based company had 1,102 employees as of July 31. Adobe, Del Monte, Dish, Sonos in addition to United Airlines are all customers.

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