Record Quarterly Results and Growing Demand Elevate Vena’s Upward Momentum
TORONTO – Oct. 17, 2018 – Vena Solutions, the fastest growing provider of cloud-based financial planning and analysis (FP&A) software, today announced continued market traction and momentum as it closed Q3 2018, with record year-over-year growth. Vena also announced the appointment of industry veteran Neil Thomas as chief revenue officer (CRO), responsible for leading the company’s sales, marketing and other revenue-generating initiatives.
Thomas brings to Vena unparalleled industry expertise with more than two decades of leadership roles at corporate performance management (CPM) and FP&A software companies. Most notable is his experience at Adaptive Insights, a direct Vena competitor, where he led the company’s growth from a handful of customers to over 3,000 worldwide. He was also responsible for Adaptive Insights’ customer success and partner relationships, delivering 28 successive quarters of year-on-year growth.
"Vena is the one company with a product vision that goes beyond budgeting and consolidations, even the office of finance, to bring the benefits of performance management to all areas of an organization”
Neil Thomas, CRO
"Having spent more than 20 years in the CPM space, Vena is the one company with a product vision that goes beyond budgeting and consolidations, even the office of finance, to bring the benefits of performance management to all areas of an organization,” said Neil Thomas, CRO at Vena Solutions. “Combined with its unique value proposition – embracing, not rejecting Excel spreadsheets – Vena is poised to become the largest independent vendor on the market. I look forward to what’s ahead for the company.”
This announcement coincides with the re-appointment of co-founder Don Mal as CEO. Combined, Mal and Thomas have more than 35 years in the CPM sector, growing software providers in the space from early stages to billion-dollar companies. Additionally, Vena wrapped up the latest quarter ending on Sept. 30, 2018 with record-breaking momentum.
“With Neil’s unmatched experience in CPM and FP&A, Vena’s executive bench is stronger than ever,” said Don Mal, CEO and co-founder at Vena Solutions. “I look forward to continuing our unprecedented growth trajectory. Now is a great time to be a Vena customer, investor and employee.”
Q3 2018 Milestones
- Achieved more than 60 percent software revenue growth in Q3 year-over-year.
- Saw over 60 percent growth in new ARR added compared to the same period in 2017.
- Ranked among the 15 fastest growing software companies in the 30th annual Canadian Business Growth 500 list.
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About Vena Solutions
Vena Solutions redefines how medium and large sized companies manage their budgeting, planning and forecasting. Vena provides a cloud-based financial planning and analysis (FP&A) solution that combines Excel with a centralized database, sophisticated workflow, powerful reporting and advanced analytics. Almost 500 of the world’s best companies use Vena to get trusted insights that drive faster, smarter business decisions. Vena is the fastest growing company in its sector and recognized leader in customer satisfaction and product usability. Visit us at https://www.venasolutions.com/.