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Draft:Vena Solutions

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  • Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. Aluminya (talk) 20:12, 8 October 2025 (UTC)


Vena Solutions
Company typePrivate
IndustryFP&A, Software as a service
Founded2011; 14 years ago (2011)
Founder
  • Rishi Grover
  • George Papayiannis
  • Don Mal
HeadquartersToronto, Ontario, Canada
Websitewww.venasolutions.com

Vena Solutions is a Canadian software as a service company that offers subscriptions to its eponymous cloud-based financial planning and analysis (FP&A) software.[1]. Headquartered in Toronto, with satellite offices in the United States, the United Kingdom, and India[1], Vena’s platform provides modeling, analysis, reporting and agentic AI capabilities for financial professionals.[1] Vena is a technology partner of Microsoft.[2]

History

[edit]

Vena was founded in April 2011 by entrepreneurs Rishi Grover and George Papayiannis. Don Mal subsequently joined as the CEO and third co-founder in August 2011.[1]

Vena raised $30 million in a Series A venture capital round led by Centana Growth Partners in July 2016.[3] A subsequent Series B round of $115 million from JMI Partners and Centana Growth Partners was announced in early 2019.[4]

Mal left the company in August 2019. Hunter Madeley, a former sales executive at HubSpot, Salesforce and ADP, was appointed CEO that same month.[5]  

Vista Equity Partners took a minority stake in the company as part of its Series C investment of $242 million in April 2021.[6] Papayiannis left his role as Chief Technology Officer in late 2021, but continues to serve on the board.[7] Grover continues to hold the position of Chief Solutions Architect.[1]

Vena reported it reached $100M USD ARR in mid-2024, making it a “Centaur” startup.[8] It confirmed the addition of its 2,000th customer in mid-2025.[9]

The company was named an Overall Leader in the Customer Experience Model and the Vendor Creditability Model by Dresner Advisory in the 2025 Wisdom of Crowds Enterprise Performance Management Market Study.[10] The buyer intelligence platform TrustRadius has awarded Vena five consecutive Top Rated Awards, six consecutive Tech Cares Awards, six Buyer’s Choice Awards and three Best Software Awards.[11]

In total, Vena has raised $272.8 million across five funding rounds.[1]

Technology

[edit]

The company’s primary offering is the Vena Complete FP&A Platform, which offers full integration with Microsoft Excel and proprietary database technology, Vena CubeFLEX, to provide corporate financial budgeting, forecasting, planning, consolidation, reporting and analytics solutions.[12]

The platform also integrates with Microsoft products such as Microsoft PowerPoint[13], Microsoft Power BI[14], Microsoft Dynamics 365 Business Central[15], Microsoft Fabric[16], and other Microsoft 365 products.[1]

In 2024, Vena released Vena Copilot for FP&A, a generative AI service building off of Microsoft Azure OpenAI Service large language models.[17] Vena Copilot gained Microsoft Teams functionality in May 2025.[18] Vena Copilot for FP&A also orchestrates the operations for three separate agents: the Planning, Reporting, and Analysis Agents.[19]

References

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  1. ^ a b c d e f g "CB Insights". app.cbinsights.com. Retrieved 2025-10-16.
  2. ^ "Vena and Microsoft Announced a Strategic Partnership to collaborate on CFOTech Solutions". www.rvnatech.com. Retrieved 2025-10-16.
  3. ^ Galang, Jessica (2016-07-26). "Toronto-based Vena Solutions raises $30 million to continue global growth, product development | BetaKit". Retrieved 2025-10-08.
  4. ^ "Toronto's Vena secures $115-million in financing from U.S. private-equity firms". The Globe and Mail. 2019-01-09. Retrieved 2025-10-08.
  5. ^ Brooks, Steve (2019-08-09). "Vena Solutions appoints new CEO". Enterprise Times. Retrieved 2025-10-08.
  6. ^ Azevedo, Mary Ann (2021-04-27). "Vista Equity takes minority stake in Canada's Vena with $242M investment". TechCrunch. Retrieved 2025-10-08.
  7. ^ "CB Insights". app.cbinsights.com. Retrieved 2025-10-16.
  8. ^ Kirkwood, Isabelle (2024-07-12). "After reaching $100 million USD in ARR, Vena becomes Canada's latest "centaur" company | BetaKit". Retrieved 2025-10-08.
  9. ^ "Vena Celebrates Record-Breaking First Half of FY26 with Customer Wins and Milestones". Ainvest. Retrieved 2025-10-08.
  10. ^ Services, Dresner Advisory. "Dresner Advisory Publishes 2025 Wisdom of Crowds Enterprise Performance Management Market Study". www.prnewswire.com (Press release). Retrieved 2025-10-08.
  11. ^ "Vena Reviews & Ratings 2025". TrustRadius. Retrieved 2025-10-08.
  12. ^ Solutions, Vena. "Why Choose Vena? | Vena Solutions". www.venasolutions.com. Retrieved 2025-10-08.
  13. ^ "How Vena Streamlines Financial Presentations with PowerPoint". www.rvnatech.com. Retrieved 2025-10-08.
  14. ^ "Revolutionizing Finance: How AI and Vena Solutions Empower Users in the Microsoft Ecosystem - Read More". www.citrincooperman.com. Retrieved 2025-10-08.
  15. ^ "Vena Copilot for Microsoft Teams and Vena for Microsoft Dynamics 365 Business Central Now Available in Microsoft AppSource". MSDynamicsWorld.com. Retrieved 2025-10-08.
  16. ^ "Orchestra Data Glossary: Vena in Microsoft Fabric | Orchestra". www.getorchestra.io. Retrieved 2025-10-08.
  17. ^ Akhilesh, VVVD (May 22, 2024). "Harnessing the Power of AI in Financial Planning: Vena Copilot for FP&A, a Complete Planning AI Assistant". QKS Group.
  18. ^ Treadway, Clint (2024-04-03). "Vena Releases Gen AI Assistant for FP&A Teams". CPA Practice Advisor. Retrieved 2025-10-08.
  19. ^ "FP&A software firm Vena offers AI 'planning agent' in bid to slash budget cycles | CFO Dive". www.cfodive.com. Retrieved 2025-10-08.
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