Overview
Fluence Technologies was founded in 2019 in Toronto, Canada by Don Mal (Board Chair) and John Power (Founding CEO, 35+ years in tech, 25 in CPM). The company was acquired by Anaplan in May 2024 after raising ~$17.2M. Fluence acquired XLCubed (2021) and Sturnis365 (2022) and serves mid-market and large enterprises with rapid-deployment financial close and consolidation.
Highlights
- Founding team: Don Mal and John Power’s combined 35+ years CPM experience
- Anaplan acquisition: May 2024 deal adding mid-market consolidation to Anaplan portfolio
- “Cloud-based, no-code” positioning: Finance-owned without IT dependency
- FluenceXL: Excel add-in maintaining familiar interface while connecting to cloud
- Prebuilt consolidation logic: Advanced functionality without custom development
- Rapid provisioning: Weeks, not months for implementation
- Acquisition history: XLCubed (2021), Sturnis365 (2022)
- “We close early” philosophy: Speed, intuitive interface
- Notable customers: BP, Thorntons, Marshalls
- Use cases: Financial consolidation, close management, reporting for high-growth and acquisitive companies
Founded
2019 in Toronto, Canada. Founded by Don Mal (Board Chair) and John Power (Founding CEO; 35+ years in tech, 25 in CPM).
Headquarters
Toronto, Ontario, Canada.
Ownership and funding
Acquired by Anaplan (May 2024). Acquired XLCubed (2021) and Sturnis365 (2022). Total funding ~$17.2M.
Core technology
Cloud-based, no-code financial close and consolidation. FluenceXL Excel add-in maintains familiar interface. Prebuilt advanced consolidation logic. Rapid provisioning (weeks, not months).
Market position
Mid-market and large enterprises; high-growth and acquisitive companies.
Product philosophy
“We close early”, speed, intuitive interface, finance-owned (not IT-dependent).
Notable customers
BP, Thorntons, Marshalls.