Vena Starts FY25 With Strong Growth, Continued Innovation and Industry Recognition

Vena’s expanding customer base and impactful product launches highlight continued commitment to industry leadership and customer success

TORONTO – September 12, 2024 – Vena, the only Complete Planning platform purpose-built to harness the full power of Microsoft 365, today announced a strong half to its fiscal year 2025, marked by significant growth, strategic customer acquisitions and continued innovation. Building on the success of FY24, Vena continues to solidify its leadership position in the Corporate Performance Management (CPM) industry.

“Vena’s momentum and industry recognition showcase the extraordinary talent and commitment of our Vena team, along with the trust our customers continue to place in us,” said Hunter Madeley, CEO of Vena. “The milestones we’ve hit in the first half of FY25 are just the start. We’re on a mission to empower even more businesses with the innovative tools they need to plan for the future with confidence.”

Highlights from FY25 H1 include:

Growth Milestone: Vena achieved a significant milestone by surpassing $100 million USD in annual recurring revenue (ARR), earning the prestigious Centaur status.

Product Innovation: Earlier this year, Vena launched Vena Copilot for FP&A, a complete planning AI assistant purpose-built for FP&A teams with Microsoft Azure’s generative AI technology. Vena Copilot is now available in North America, the U.K. and EMEA. Additionally, Vena launched Vena for Microsoft PowerPoint, the only planning product in market that allows users to interact, align and collaborate on their financial and operational data directly from within PowerPoint. These tools are significantly changing the planning capabilities of finance and operations teams across the globe.

Industry Recognition: Vena earned multiple accolades, securing top positions in various analyst reports for product innovation, capabilities and customer satisfaction. These include being recognized for 11 consecutive years as a CPM industry leader by Nucleus Research, five Top Rated awards from TrustRadius, leadership recognition in IDC MarketScape's 2024 report and being honored with the TrustRadius Tech Cares Award for the fifth consecutive year.

Partner and Customer Success: Vena hosted its inaugural Venny Awards, celebrating the achievements of its customers who have made significant strides in elevating finance and operations using Vena’s platform. Vena also launched its third preconfigured (PCS) solution in-market, "Vena for Senior Living" by Delbridge Solutions, further expanding its industry-specific solutions portfolio.

Additionally, Vena welcomed 10 new Partners:
- Admiral Consulting Group
- Centri Business Consulting
- Clearview Group Partner
- ImpactIT Business Solutions
- Miracle Enterprise Solutions Inc.
- Monte Carlos Consulting
- Northix Solutions Ltd.
- Shortlist Match
- Taxvibes
- Zenith Global Solutions

Growing and Engaged Community: 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 this last year alone, 5,419+ credits were issued through Vena Academy and the Vena Customer Training Team. The company also brought together finance and operations professionals and business leaders from around the world to Excelerate Finance 2024, its annual conference, which featured a sold-out in-person audience and garnered over ten thousand YouTube live views. Additionally, Vena marked a milestone by recording the 50th episode of its podcast, The CFO Show, solidifying its role as a hub for thought leadership and industry insights.

Strategic Expansion: Vena expanded its global presence by opening a new office in India, a key achievement in the company’s continuous growth journey with the addition of a team that will accelerate the rollout of its full product roadmap, including generative AI features for FP&A teams.

Leadership Development: Vena continues to strengthen its leadership team, with the promotion of Le Huong Truong to Chief Legal Officer, underscoring the company’s focus on nurturing top talent and driving strategic growth. Furthermore, Burzin Contractor's promotion to SVP, FP&A and Operations was a strategic move designed to unify the operations function with finance, positioning Vena to streamline its FP&A capabilities and extend the strategic influence of this core function.

Looking ahead, Vena remains committed to continuing to deliver value to its customers through ongoing innovation and strategic partnerships. In line with this, Excelerate Finance 2025 will focus on community building, transforming the office of finance and empowering both FP&A professionals and the broader finance community to connect and shape the future of finance together.

“Seeing how our Complete Planning platform helps our customers achieve great things and witnessing the real impact we’re making together is incredibly rewarding. We’re committed to supporting our community of finance and operations professionals and their success is what drives us forward,” added Madeley.

About Vena
Vena is the only Complete Planning platform purpose-built to harness the full power of the Microsoft technology ecosystem for FP&A teams and their collaborators. Vena amplifies Microsoft's world-leading productivity tools, cloud technology and AI innovation to make FP&A, operational planning and adjacent strategic processes more flexible, efficient and intelligent. Thousands of the world’s leading companies rely on Vena to power their planning. For more information, visit venasolutions.com.

Media Contact:
For immediate inquiries or more details regarding our latest business news, please contact:

Jonathan Paul
Vice President, Content Marketing
jpaul@venacorp.com

Vena Starts FY25 With Strong Growth, Continued Innovation and Industry Recognition

Vena’s expanding customer base and impactful product launches highlight continued commitment to industry leadership and customer success TORONTO – September 12, 2024 – Vena, the only Complete Planning platform purpose-built to harness the full power of Microsoft 365, today announced a strong half to its fiscal year 2025, marked by significant growth, strategic customer acquisitions and continued innovation. Building on the success of FY24, Vena continues to solidify its leadership position in the Corporate Performance Management (CPM) industry. “Vena’s momentum and industry recognition showcase the extraordinary talent and commitment of our Vena team, along with the trust our customers continue to place in us,” said Hunter Madeley, CEO of Vena. “The milestones we’ve hit in the first half of FY25 are just the start. We’re on a mission to empower even more businesses with the innovative tools they need to plan for the future with confidence.” Highlights from FY25 H1 include: Growth Milestone: Vena achieved a significant milestone by surpassing $100 million USD in annual recurring revenue (ARR), earning the prestigious Centaur status. Product Innovation: Earlier this year, Vena launched Vena Copilot for FP&A, a complete planning AI assistant purpose-built for FP&A teams with Microsoft Azure’s generative AI technology. Vena Copilot is now available in North America, the U.K. and EMEA. Additionally, Vena launched Vena for Microsoft PowerPoint, the only planning product in market that allows users to interact, align and collaborate on their financial and operational data directly from within PowerPoint. These tools are significantly changing the planning capabilities of finance and operations teams across the globe. Industry Recognition: Vena earned multiple accolades, securing top positions in various analyst reports for product innovation, capabilities and customer satisfaction. These include being recognized for 11 consecutive years as a CPM industry leader by Nucleus Research, five Top Rated awards from TrustRadius, leadership recognition in IDC MarketScape's 2024 report and being honored with the TrustRadius Tech Cares Award for the fifth consecutive year. Partner and Customer Success: Vena hosted its inaugural Venny Awards, celebrating the achievements of its customers who have made significant strides in elevating finance and operations using Vena’s platform. Vena also launched its third preconfigured (PCS) solution in-market, "Vena for Senior Living" by Delbridge Solutions, further expanding its industry-specific solutions portfolio. Additionally, Vena welcomed 10 new Partners: Admiral Consulting Group Centri Business Consulting Clearview Group Partner ImpactIT Business Solutions Miracle Enterprise Solutions Inc. Monte Carlos Consulting Northix Solutions Ltd. Shortlist Match Taxvibes Zenith Global Solutions Growing and Engaged Community: 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 this last year alone, 5,419+ credits were issued through Vena Academy and the Vena Customer Training Team. The company also brought together finance and operations professionals and business leaders from around the world to Excelerate Finance 2024, its annual conference, which featured a sold-out in-person audience and garnered over ten thousand YouTube live views. Additionally, Vena marked a milestone by recording the 50th episode of its podcast, The CFO Show, solidifying its role as a hub for thought leadership and industry insights. Strategic Expansion: Vena expanded its global presence by opening a new office in India, a key achievement in the company’s continuous growth journey with the addition of a team that will accelerate the rollout of its full product roadmap, including generative AI features for FP&A teams. Leadership Development: Vena continues to strengthen its leadership team, with the promotion of Le Huong Truong to Chief Legal Officer, underscoring the company’s focus on nurturing top talent and driving strategic growth. Furthermore, Burzin Contractor's promotion to SVP, FP&A and Operations was a strategic move designed to unify the operations function with finance, positioning Vena to streamline its FP&A capabilities and extend the strategic influence of this core function. Looking ahead, Vena remains committed to continuing to deliver value to its customers through ongoing innovation and strategic partnerships. In line with this, Excelerate Finance 2025 will focus on community building, transforming the office of finance and empowering both FP&A professionals and the broader finance community to connect and shape the future of finance together. “Seeing how our Complete Planning platform helps our customers achieve great things and witnessing the real impact we’re making together is incredibly rewarding. We’re committed to supporting our community of finance and operations professionals and their success is what drives us forward,” added Madeley. About Vena Vena is the only Complete Planning platform purpose-built to harness the full power of the Microsoft technology ecosystem for FP&A teams and their collaborators. Vena amplifies Microsoft's world-leading productivity tools, cloud technology and AI innovation to make FP&A, operational planning and adjacent strategic processes more flexible, efficient and intelligent. Thousands of the world’s leading companies rely on Vena to power their planning. For more information, visit venasolutions.com. Media Contact: For immediate inquiries or more details regarding our latest business news, please contact: Jonathan Paul Vice President, Content Marketing jpaul@venacorp.com

September 12, 2024 |

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Vena Strengthens Alignment Between FP&A and Revenue Operations With Strategic Leadership Change

Vena is setting a new standard for how organizations optimize operations, enhance strategic alignment and deliver superior value to customers TORONTO – September 11, 2024 – Vena, the only Complete Planning platform purpose-built to harness the full power of Microsoft 365, today announced a significant leadership change as Burzin Contractor, formerly SVP, Revenue Operations & Corporate Strategy, has been promoted to SVP, FP&A and Operations. In his new role, Contractor will report directly to Vena CFO Melissa Howatson, marking a strategic move that further aligns Vena’s FP&A, revenue operations (RevOps) and corporate strategy functions. By consolidating the critical functions of FP&A, RevOps and corporate strategy under a single leader, Vena aims to improve operational efficiency, reduce redundancy and accelerate decision-making processes, ultimately delivering more cohesive solutions and better outcomes for customers and partners. "Our decision to align FP&A and revenue operations under Burzin’s leadership is a strategic step that ultimately allows us to better serve our customers," said Melissa Howatson, CFO at Vena. "Burzin’s deep experience in finance and operations will help us eliminate inefficiencies and improve response times to business questions, ensuring that we provide more cohesive and integrated solutions. This change not only strengthens our internal alignment, but ultimately allows us to focus on our key priorities and deliver greater value to our customers and partners.” The move also reflects a growing trend in the industry toward leveraging financial and operational data to streamline processes and improve decision making. According to Dresner Advisory Services in the 2024 Wisdom of Crowds EPM Market Study Report, over 90% of companies are placing integrated performance management systems that link to financial budgets and operational plans as critical to somewhat important. As companies face increasingly complex market conditions, the ability to integrate financial and operational planning is becoming a key differentiator in achieving strategic goals and responding to market changes. “Being a CPA and spending most of my career in finance before leaning into operations and strategy, I'm excited to be leading this consolidated group. The new structure will enable us to build a more robust end-to-end strategic planning engine," said Burzin Contractor, SVP, FP&A and Operations. For Contractor, this new role is a homecoming of sorts. A CPA by training, Contractor was previously a member of Vena’s finance team before transitioning to operations almost five years ago. In his expanded role, Contractor will continue to sit on the executive leadership team and lead revenue operations, strategy and analytics, bringing his extensive experience and insights full circle as he helps drive Vena’s continued growth and innovation. About Vena Vena is the only Complete Planning platform purpose built to harness the full power of the Microsoft technology ecosystem for FP&A teams and their collaborators. Vena amplifies Microsoft's world-leading productivity tools, cloud technology and AI innovation to make FP&A, operational planning and adjacent strategic processes more flexible, efficient and intelligent. Thousands of the world’s leading companies rely on Vena to power their planning. For more information, visit venasolutions.com. Media Contact: For immediate inquiries or more details regarding our latest business news, please contact: Jonathan Paul Vice President, Content Marketing jpaul@venacorp.com

September 11, 2024 |

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From Founding Vision to Centaur Status: Vena's Journey to $100M ARR

Recently, we celebrated a significant milestone at our company—we achieved the elite Centaur status as we crossed $100M USD in annual recurring revenue (ARR). Achieving Centaur status is seven times rarer than being valued at $1 billion or more, which over 1,000 private companies have done. It's a feat that only a few startups can dream of, and it marks a pivotal moment in our journey. This milestone highlights our growth, innovation and the exceptional dedication of our team throughout the years. Back in 2011, when George Papayiannis, Don Mal and I founded Vena, we were driven by a deep understanding of the corporate performance management (CPM) landscape and a shared vision for its future. From our humble beginnings as a startup to achieving Centaur status, it has been nothing short of extraordinary. It's a story of teamwork, continuous innovation and a commitment to excellence. The Early Days: A Vision Takes Shape When we started Vena, the CPM market was mature, dominated by legacy systems from giants such as SAP, Oracle and IBM. My career in this space, using Hyperion and Clarity Systems, provided us with a unique perspective. We saw how many organizations, despite investing in advanced technologies, reverted to Excel for their financial planning and analysis. And we put a lot of energy and attention into understanding why that was the case. What we discovered was that this trend stemmed from several key factors. For starters, Excel remains popular because it is familiar, flexible and widely trusted by finance professionals. This allows for rapid customization and iterative processes that more rigid systems often lack. Its ease of use, customization capabilities and powerful functions make it a go-to tool for complex financial tasks. The integration challenges and data compatibility issues with new platforms often lead to delays and inaccuracies, prompting organizations to revert to the reliable and universally understood Excel. Additionally, the extensive training required to fully leverage new technologies can be a significant barrier, causing teams to default to the more immediately accessible and intuitive Excel. By understanding these underlying reasons for teams reverting to Excel, we aimed to better address gaps and improve the adoption and effectiveness of advanced financial planning and analysis solutions. We wanted to be able to embrace Excel without compromise, so whatever you could model in Excel, we wanted to be able to support. Our founding philosophy was simple, yet innovative: unlock the operational and strategic excellence of finance teams and businesses. We wanted to create a solution that was both builder-centric and user-centric. On the builder side, our goal was to allow businesses to model their operations without compromise, ensuring they could adapt quickly to changing internal and external conditions. On the user side, we embraced Excel, integrating its familiar interface with the robust capabilities of a modern CPM platform. This vision guided us as we architected our solutions and developed a platform that natively integrates with Microsoft Office 365, offering users the best of both worlds—an intuitive interface coupled with advanced planning, reporting and analytics capabilities. Read more about the early years here. Building the Foundation: Strategic Partnerships and Innovation Our strategic partnership with Microsoft was pivotal to our growth. By fully integrating with Office 365, we positioned Vena as a unique asset in the market. This integration meant users could continue working within their familiar Excel environment while leveraging Vena's advanced functionalities for financial planning and corporate performance management. Our early years were marked by a series of milestones that laid the groundwork for our success. From securing our first major customers to consistently upgrading our platform, we steadily gained industry recognition and trust. We focused on building a product that was not only powerful, but also easy for finance teams to own, use and maintain. This approach resonated with our customers, who valued the seamless integration into their daily workflows. As teams worked in Excel, Power BI, PowerPoint and Microsoft 365 functionality, Vena was right there, enhancing their productivity and efficiency. Scaling New Heights: Embracing the Cloud The evolution of cloud technology in the early 2010s brought about a significant shift in the CPM landscape. We embraced this transformation wholeheartedly, positioning Vena as a cloud-first solution. This shift allowed us to offer unparalleled scalability, flexibility and accessibility to our customers. The cloud became a catalyst for our growth, enabling us to serve a global customer base and continuously innovate our platform. Throughout this journey, the contributions of my co-founders, George and Don, were invaluable. George’s strategic vision and Don's operational expertise complemented our technical innovations, forming a well-balanced and energetic leadership team. Together, we navigated the challenges of scaling a tech startup, from securing funding and building a talented team to expanding our market presence. Key Milestones and Achievements Reflecting on our journey, several milestones stand out: 2011: Vena’s founding and initial product launch, offering a CPM solution with Excel integration. 2014: Secured our first major funding round, which enabled us to scale our operations and invest in product development. 2017: Achieved significant customer growth, expanding our footprint globally and diversifying our client base across various industries. 2019: Raised $115M in equity finance to accelerate our industry-leading growth and scale our operations to meet the financial and business planning needs of thousands of customers worldwide. 2021: Raised $300M in Series C Funding with Vista Equity Partners (“Vista”), a leading global investment firm that exclusively invests in enterprise software, data and technology-enabled businesses. We also welcomed our 1000th customer that year. 2022: Strengthened our decade-long partnership with Microsoft, integrating more deeply with Office 365 and enhancing our product’s capabilities. 2024: Reached $100M in ARR, a testament to our product’s value and our team’s dedication. For more company announcements and updates, visit the Vena Newsroom. Innovating for the Future Innovation has always been at the core of Vena’s growth. As the market evolved, so did we. One of these significant breakthroughs was the release of Vena Copilot for FP&A, an AI-powered assistant purpose-built to act as an extension of your FP&A team. Vena Copilot leverages machine learning to provide predictive insights, automate routine tasks and support strategic decision-making. This innovation exemplified our commitment to staying ahead of the curve and continuously adding value for our customers. Another recent milestone was the launch of Vena for Microsoft PowerPoint. This feature allows customers to create dynamic presentations directly from their Vena data, ensuring that stakeholders always have the most up-to-date information. It streamlines the reporting process and makes it easier for finance teams to communicate their insights effectively. Achieving Centaur Status: Thanks to Our Customers and Team Reaching $100 million in ARR is a significant milestone, but it is not just a testament to our product—it reflects the trust and support of our customers and the dedication of our talented team throughout the years who have built the foundation of Vena and continue to drive its success. Organizations across industries have embraced Vena for its ability to streamline their financial processes, provide actionable insights and drive better business outcomes. Our customers' success stories are the true measure of our achievements. As we celebrate this significant milestone, we remain focused on the future. Our product vision and roadmap are guided by the evolving needs of our customers. We continue to invest in innovation, exploring new technologies and expanding our capabilities. The journey ahead is exciting, and we are committed to maintaining the momentum that has brought us this far. Looking Ahead: The Future of Vena Our mission at Vena has always been to empower businesses to make better decisions through smarter planning. As we look to the future, we are excited about the possibilities that lie ahead. From enhancing our artificial intelligence and machine learning capabilities to expanding our integrations and user experience, we are dedicated to pushing the boundaries of what our platform can achieve. Our journey to Centaur status is a story of vision, perseverance and collaboration. It is a story of how three founders, driven by a shared belief in the power of technology, built a company that is reshaping the CPM landscape. As we continue to grow and innovate, we remain committed to our core values and to the success of our customers. Here’s to the next chapter in Vena’s journey—a journey that we are proud to share with all of you. Rishi Grover Co-founder and Chief Solutions Architect, Vena Solutions Media Contact: For immediate inquiries or more details regarding our latest business news, please contact: Jonathan Paul Vice President, Content Marketing jpaul@venacorp.com

September 5, 2024 |

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Vena Starts FY25 With Strong Growth, Continued Innovation and Industry Recognition

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