Vena’s growing and passionate customer base sets the stage for continued value creation and market leadership
TORONTO–(BUSINESS WIRE)–Vena, the only Complete Planning platform purpose-built to amplify the power of Microsoft 365, announced it has surpassed $100 million USD in annual recurring revenue (ARR). This accomplishment earns Vena the prestigious status of Centaur, first introduced by Bessemer Venture Partners to recognize privately held SaaS companies that have reached $100 million USD in ARR.
According to Bessemer’s 2023 State of the Cloud report, Centaurs are an “elite subset” of unicorns, signifying exceptional product-market fit, a scalable go-to-market strategy and a loyal customer base. Compared to the over 1,000 private companies ever valued at $1 billion or more, achieving Centaur status is seven times rarer, reflecting Vena’s strong business maturity and market validation.
“Achieving this designation represents an exciting milestone on the amazing journey we’re enjoying with our customers and partners as we transform the office of finance and empower FP&A teams everywhere. From our founding days, we’ve believed that the most impactful organizations in the world have always been those that best leverage the power of data and their people in pursuit of a clear and meaningful mission. Our platform makes that possible and we are so grateful to have played our part in the success our customers realize every day,” said Hunter Madeley, CEO at Vena. “This achievement reflects the deep and abiding commitment of our employees as we build a culture and company focused on helping our customers plan to grow. We still have so much more to do, but it’s nice to take a beat and celebrate this latest milestone together.”
Vena continues to prioritize the success of its customers and understands the challenges faced by modern FP&A teams balancing the need for operational excellence with the responsibility to deliver critical insights and strategic support across the organization. The recent release of Vena Copilot for FP&A means finance and operations teams are better positioned than ever to support and guide their organizations.
Over the past year, Vena has achieved several distinguished milestones that have set the stage for continued growth and customer value, including:
- Growing and Engaged Community: Curating leading voices in finance and business leadership for The CFO Show, an industry-leading podcast hosted by Vena CFO Melissa Howatson to elevate the conversation for C-suite executives and aspiring finance and business leaders. Additionally, the company expanded Vena Academy, offering free CPE/CPD online courses in technical and non-technical training in Microsoft 365+, FP&A mastery and Vena Complete Planning. In the last year alone, 5,419+ credits were issued through Vena Academy and the Vena Customer Training Team. The company also brought together over 300 finance and operational professionals at this year’s Excelerate Finance 2024.
- Customer and Analyst Recognition: Being named a Top Leader in the 2024 Business Application Research Center (BARC) Planning Survey, Top Rated by TrustRadius in 2024, a Leader by G2 and a Mid-Market Leader by IDC MarketScape. Vena has also been identified as a Challenger in The Hackett Group EPM Digital World Class Matrix and has received Technology Innovation Honors from Dresner Advisory Services. Additionally, Vena has been recognized as the CPM Industry Leader for the 11th straight year by Nucleus Research.
One of the outcomes of steadfastly focusing on creating value for its customers is that Vena has benefited from strong, predictable growth, which in turn, has allowed the company to meaningfully invest in its platform and community to support its growing customer base. “Tracking Vena’s Annual Recurring Revenue base by quarter keeps us grounded in doing right by our customers and by our culture every day,” said Madeley.
“This significant milestone highlights the power of our platform and the scalability and adaptability of our solutions,” added Hugh Cumming, Chief Technology Officer at Vena. “It’s a testament to our team’s dedication to delivering user-friendly, reliable solutions that truly meet the evolving needs of our customers. This milestone paves the way for even more innovative advancements as we continue to empower finance professionals worldwide.”
For more information about Vena and its journey to Centaur status, please visit www.venasolutions.com.
About Vena
Vena is the only Complete Planning platform natively integrated with Microsoft 365. Vena streamlines financial and operational planning, reporting and analysis processes, and provides advanced analytics and modeling capabilities to help business, finance and operations leaders make agile and more informed business decisions. With Vena, you can leverage the power of Excel and AI-powered insights in a unified, cloud-based platform that enhances productivity, collaboration and insights. Over 1,800 of the world’s leading companies rely on Vena to power their planning. For more information, visit venasolutions.com.
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