Adaptive Insights, a 12-year-old Silicon Valley firm that provides a cloud-based alternative to finance management software such as Microsoft Excel, announced Tuesday that it had raised $75 million in new funding.

The Series G investment brings the total raised by the company to $176 million. Adaptive Insights said the funds will be used to “accelerate product roadmap innovation and global expansion.”

“CFOs are increasingly taking center stage in the strategy and direction of their organizations and looking for the right technology to provide real-time data and powerful insights to gain a 360-degree view of their business,” CEO Tom Bogan said in a news release.

Bogan wouldn’t share the company’s post-funding valuation or annual revenue, but told VentureBeat that it was “growing 50%+ year over year” in annual recurring revenue bookings and had expanded international growth of 75% year over year in the first quarter.

“It looks like Adaptive Insights is joining the so-called ‘unicorn club’ of startups valued at $1 billion or more,” TechCrunch reported.

Adaptive Insights, which was founded in 2003, is considered one of the leaders in “corporate performance management,” offering cloud-based capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence.

“There is no doubt that in this high-paced age, finance executives need more efficient and robust tools than spreadsheets to plot the course their organizations should take,” Forbes commented. “Adaptive is riding this wave and growing strongly.”

In Adaptive’s latest financing round, new investor JMI Equity joined existing investors Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, Monitor Ventures, and Information Venture Partners. JMI’s other software investments include Autotask, Eloqua, and ServiceNow.

Bogan said Adaptive didn’t have any plans for additional private funding. “We’ve always had a goal of building a leading company worthy of the public market and it remains something to aspire to in the future,” he said.

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