Market Milestone: Vena Solutions Raises $115 Million to Support Mid-Market FP&A

$500.00

Author: Hyoun Park
Practice: Enterprise Performance Management

Key Stakeholders: Chief Financial Officers, Controllers, Finance Directors and Managers, Accounting Directors and Managers, Sales Operations Directors and Managers, Corporate Planning Directors and Managers

Why It Matters: Mid-Market organizations between $50 million and $1 billion in annual revenue are rapidly increasing demand for Financial Planning and Analysis as business environments become more complex and companies demand analytic and data-driven guidance for strategic action. This $115 million investment in mid-market FP&A represents one of the largest growth investments in this market that has been publicly announced.

Top Takeaway: With this hefty investment, Vena Solutions has been identified as a potential market winner by its investors and is well-positioned to invest in further market and product growth while continuing to win a majority of competitive FP&A deals where it is included.

Description

On January 9th, 2019, Vena Solutions announced a $115 million round of equity financing led by JMI Equity and joined by prior investor Centana Growth Partners. Based on Amalgam Insights’ discussions with Vena’s executive team, this funding will be used to expand Vena’s product, customer support, sales, marketing, and operations teams as well as to expand the customer base in the mid-market, where Vena has been successfully winning business over the past several years.

Amalgam Insights’ Market Milestones highlight and contextualize key announcements in enterprise technology markets. This Market Milestone provides guidance on why this funding round is an important milestone for mid-market FP&A in context of the red-hot FP&A market as well as important trends in Enterprise Performance Management product development and venture capital investment.

This report is available at no cost through Friday, January 19th for personal use only.