Vena’s innovative product drives expanding customer base
Toronto, Canada, May 12, 2015 – Vena Solutions announced today that the company achieved over 150% Year-Over-Year growth in revenues for Q1 2015 and realized record revenues for the third consecutive quarter, making Vena the fastest growing cloud Corporate Performance Management (CPM) vendor. Multiple regions are now contributing to growth with new customers in North America, Europe and South Africa.
Vena’s growing momentum is driven by customer demand for its unique cloud-based solution that combines native Microsoft Excel® with a centralized, in-memory database and intuitive workflow engine.
New clients are using Vena for a variety of business processes, from budgeting, planning and forecasting to financial close management. Specific industries are also taking advantage of Vena’s ability to automate any collaborative, repeatable Excel-based process, such as accreditation in Higher Education and Comprehensive Capital Analysis and Review (CCAR) in Banking.
Many new features and functionality enhancements were added over the quarter and seamlessly deployed through Vena’s cloud platform. Vena’s rapid growth has necessitated significant investment in its infrastructure and Q1 was no exception with expanded monitoring and alerting, as well as extensive scalability and resilience enhancements to drive even higher performance.
Expanded Global Coverage
Vena further expanded its global coverage by adding an additional datacenter based in Europe.
When asked about Vena’s rapid growth, Don Mal, the company’s CEO, remarked: “We’re not asking business users to sacrifice the Excel models, formulas and templates they’ve spent years building. They get to embrace Excel while adding the structure and control they need in an enterprise-class CPM solution – it’s a win-win situation for them. That’s why they’re choosing Vena.”
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