Vena closes $300m financing with Vista Equity Partners

Vena, a tech planning platform for finance and operations professionals, today announced it has raised $300m in funding led by Vista Equity Partners.

The investment round is one of the largest for a Canadian tech company and is led by Vista Equity Partners, a leading global investment firm that exclusively invests in enterprise software, data and technology-enabled businesses. Vena will use the funds to accelerate growth and continue to provide a market-leading customer experience.

Vena is a cloud-native platform that leverages the familiarity and flexibility of an Excel interface within the Vena Growth Engine—the technology and methodology businesses use to streamline finance processes, connect teams, drive decision making and plan with confidence for today and tomorrow. With this round, Vena has raised over $450m, positioning the company as the corporate performance management (CPM) platform of choice for finance and operations professionals and validating Vena’s mission to power its customers’ Plan to Grow™.

“This significant investment is a clear endorsement of the value we are providing to our customers and Vena’s position in our market,” said Vena CEO Hunter Madeley. “All organisations need to build agility and resilience into their planning and operating processes and we are excited to scale our business to meet that demand. We are also excited to partner with the team at Vista whose extensive enterprise software operational experience will help Vena continue to invest in our customers and culture as we grow together.”

JMI Equity and Centana Growth Partners, early investors in Vena, will remain active, partnering with Vista to help support Vena’s continued momentum. As part of the raise, Vena welcomes two new members to its board of directors from Vista—Kim Eaton, Managing Director and Marc Teillon, Senior Managing Director and Co-Head of Vista’s Foundation Fund.

“The pandemic has emphasised the need for agile financial planning processes as companies respond to quickly-changing market conditions, and Vena is uniquely positioned to help businesses address the challenges required to scale their processes through this pandemic and beyond,” said Eaton. “We look forward to partnering with the Vena team in its next stage of growth as they continue to expand Vena’s platform to new customers and markets.”

Teillon added “We were impressed with not only the work and commitment of the Vena team, but also their values and culture which will be an important part of their continued success. Together, we are excited to advance Vena’s market leadership as the platform of choice in the CPM space.”

Source: Private Capital Journal