Vena Achieves Elite Centaur Status Crossing $100M USD in Annual Recurring Revenue
11 Julio 2024 - 5:00AM
Business Wire
Vena’s growing and passionate customer base
sets the stage for continued value creation and market
leadership
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.
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Vena customers create 10+ years of Annual
Recurring Revenue growth. (Graphic: Business Wire)
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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version on businesswire.com: https://www.businesswire.com/news/home/20240711851693/en/
Media: Jonathan Paul Vice President, Content Marketing
jpaul@venacorp.com