Vena Enters 2023 Strong Following Record Q4 and 2022
CPM software provider grows customer base, empowering companies to Plan For Anything™ amid global economic challenges
TORONTO, March 23, 2023 /CNW/ -- Vena, the Complete Planning platform loved by finance and trusted by business, today announced record revenues and customer wins in its latest fiscal year despite significant economic headwinds.
The company recognized significant year-over-year increases in revenue and customers added through FY 2023 (ending Jan. 31, 2023) and had record growth in expansion sales as customers leveraged Vena's corporate performance management (CPM) software to Plan for Anything™, leaving it well-positioned to ride continued business momentum in FY 2024.
"Macroeconomic conditions have placed a new urgency on streamlining financial and operational planning," said Hunter Madeley, CEO of Vena. "Companies trust Vena's award-winning Complete Planning platform and Partner network to provide the planning capabilities and business insights required to thrive in any environment. Vena remains committed to empowering our customers to build agility and resilience into their business planning processes."
Other highlights achieved in Q4 FY 2023 include:
- Record subscription revenue and a new customer milestone, crossing the 1,500 threshold.
- A strategic partnership with Fluence Technologies offering an integrated solution that empowers FP&A, extended planning and financial close management for Vena and Fluence customers and enables a seamless digital transformation of the entire finance function.
- The expansion of Vena's Partner network, with the addition of Cyberly Inc., McAlign Consulting Group, Nexcelsior Inc. and Varisource. These Partners add to Vena's expertise in the Microsoft and Netsuite platforms, enhancing the Vena platform's capabilities in functions including revenue operations and sales performance management.
- Ongoing hiring that grew Vena's team by over 20%, attracting top talent despite a softening in overall technology industry headcount, due in large part to its recognition as a top place to work.
These Q4 milestones capped a strong year for Vena, which earned a collection of industry awards, including recognition as a Major Player in the IDC MarketScape: Worldwide Enterprise Planning, Budgeting and Forecasting Applications 2022 Vendor Assessment and a TrustRadius 2022 Best Software award for Vena Complete Planning. Vena also received high rankings from user-based rating sites TrustRadius (Best Corporate Performance Management, Budgeting and Forecasting and Financial Close software) and G2 (Best Software for Accounting and Finance).
Other highlights in the year include:
- The announcement of a technology collaboration with Microsoft, including mutual investment in product, solution and platform innovation to empower the strategic office of finance.
- Strengthened leadership with the addition of Melissa Howatson as Chief Financial Officer, the appointment of Vena Chief Marketing Officer Allison Munro as Chief Marketing & Ecosystem Officer and the promotion of Le Huong Truong to Senior Vice President, General Counsel and Corporate Secretary, joining Vena's executive leadership team.
- Industry recognition with Vena named an Overall Leader in the 2022 Wisdom of Crowds Enterprise Performance Management (EPM) Market Study conducted by Dresner Advisory Services.
- Recognition of Vena's culture and workplace environment by Waterstone Human Capital on its 2022 list of Canada's Most Admired Corporate Cultures.
- The launch of Vena with Microsoft Power BI Embedded, adding AI-powered advanced data analytics to the Vena platform.
- The launch of Vena Marketplace, where finance and operations professionals can access native Vena integrations and connect with Vena Partners that offer services, solutions and technologies that integrate into the Vena platform to automate financial planning processes, drive collaboration and deliver deep insights.
- Additional recognition for Vena's culture with its third TrustRadius Tech Cares award, which recognizes tech companies' support for employees, and several Comparably awards, including recognition of its diversity initiatives and company outlook.
Vena empowers businesses to Plan For Anything™ with the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena streamlines budgeting, forecasting and reporting processes, and provides advanced analytics and modeling capabilities to help business, finance and operations leaders make informed business decisions. With Vena, you can leverage the power of Excel and AI-powered insights in a unified, cloud-based platform that enhances collaboration, scalability and security. Over 1,500 of the world's leading companies rely on Vena to power their planning. For more information, visit venasolutions.com.
Senior Director, Content & Communications, Vena
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