Vena More Than Doubles Sales for Another Record Year

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Vena Solutions credits its Excel approach, product innovation and world-class team for record sales and customer growth in 2015

These results...clearly establish Vena as the fastest growing vendor in the performance management space.

Vena Solutions, the fastest growing provider of cloud corporate performance management (CPM) software, today announced that 2015 was another record year for the company with sales more than doubling from 2014. Fueled in large part by the company’s approach to embracing Excel as an enterprise-class business solution, Vena’s 2015 highlights include (all figures Y/Y):

  •     170% growth in software sales bookings
  •     110% growth in annual recurring revenue (ARR)
  •     88% growth in enterprise customers

“These results put us squarely on track with our ambitious growth and market leadership goals,” said Don Mal, CEO of Vena Solutions. “They clearly establish Vena as the fastest growing vendor in the performance management space.”

In addition to its focus on enterprise-grade Excel, key drivers behind Vena’s exponential growth rate include:

  •     Excel Approach Validation: Vena’s “embrace Excel” approach continues to be the primary decision making factor for the company's clients, both new client wins and existing license expansions. What’s more, the company is seeing a growing degree of third party validation, from analyst coverage to industry awards – even competitors adopting Excel-like add-ons in an attempt to follow Vena’s lead.
  •     Continuous Improvement & Innovation: Vena’s product roadmap for 2016 includes a wide range of innovations, from new systems integrations and support to advanced analytics and business intelligence (BI). Key innovations and improvements for the coming year include Web grids and cloud spreadsheet integration, mobile dashboards and data discovery features, all backed by 24/7 support.
  •     World-Class Talent: Vena is quickly becoming recognized as a leader in attracting and retaining a world-class team with renowned expertise spanning finance, accounting, enterprise software and services delivery, and industry vertical expertise from financial and legal services to higher education. Just as importantly, Vena’s growing network of global business partners has extended the company’s footprint across four continents, with more on the way.

Added Mal, “from improving on an already industry-leading product to expanding into new markets in the Middle East and Asia, it’s clear that 2016 is going to be another banner year for Vena.”

About Vena Solutions –

Vena turns Excel into an enterprise-class business solution with a centralized database and features including workflow, version control and a detailed audit trail. With Vena, hundreds of leading global brands now get trusted numbers and insights – fast – without sacrificing the significant investments they’ve already made in Excel templates, models and reports. They use Vena for corporate performance management (CPM) applications including budgeting, forecasting, financial close and reporting, in addition to managing business drivers and KPIs outside of finance. Vena is the fastest growing cloud CPM vendor, and the only one to embrace – not replace – Excel spreadsheets.

Media Contact
Michael A. Corcoran
Vena Solutions
(416) 529-5709

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Michael A. Corcoran
Vena Solutions
+1 416-529-5709 Ext: 214
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since: 08/2011
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