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- Vena Solutions
Vena Solutions Funding, Investors & Competitors
Vena Solutions has raised $268M across 3 funding rounds, most recently a $240M Series C in April 2021.
Last Vena Solutions funding round
$240M
Series C · Apr 2021
Cumulative funding Vena Solutions raised
$268M
across 3 funding rounds
Key investors in Vena Solutions
Vista Equity Partners
JMI Equity
Centana Growth Partners
CIBC Innovation Banking
Difference Capital
About Vena Solutions
Vena Solutions is a Toronto-headquartered financial planning platform integrating with Microsoft Excel for budgeting, forecasting, and reporting. Serving over 1,200 organizations worldwide including Unilever and PepsiCo, it provides centralized data management and workflow automation. Founded in 2011, Vena operates as a cloud-native corporate performance management solution.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Vena Solutions Funding History
Vena Solutions has raised a total of $268M across 3 funding rounds.
Vena Solutions' first fundraising round was a $3M seed round in November 2013. The most recent completed round was a $240M Series C in April 2021.
Vena Solutions funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2021 | Series C | Vista Equity Partners (lead); JMI Equity; Centana Growth Partners | $240M | Vena Solutions, a Toronto-based provider of cloud-based financial planning and analysis (FP&A) and corporate performance management (CPM) software, raised $300 million CAD ($242 million USD) in a Series C funding round on April 27, 2021, led by Vista Equity Partners. The minority investment, one of the largest for a Canadian tech company at the time, brought Vena's total funding to over $450 million CAD, following prior rounds including $115 million in 2019 led by JMI Equity with Centana Growth Partners participation, and a $25 million USD debt facility from CIBC Innovation Banking in 2020. Early investors JMI Equity and Centana Growth Partners remained active, partnering with Vista, which added board members Kim Eaton and Marc Teillon. The funds were primarily used to accelerate growth, with the majority allocated to buying out shares from earlier investors (about $100 million in primary capital to Vena), enhance go-to-market efforts, invest in product development, and maintain market-leading customer experience. Vena's platform, leveraging an Excel interface within its Vena Growth Engine, supports budgeting, forecasting, and business planning for medium to large enterprises across industries like banking, SaaS, manufacturing, healthcare, insurance, and education. At the time, Vena served over 900 customers, including Kansas City Chiefs, Coca-Cola Consolidated, World Vision International, and ELF Cosmetics, emphasizing strong customer retention and demand in existing markets rather than geographic expansion. CEO Hunter Madeley described the raise as an acceleration story amid consistent growth, positioning Vena to build agility and resilience in planning processes. The company had been recognized in 2021 as a Customers' Choice in Gartner's Peer Insights for Cloud FP&A Solutions and for best feature set and customer support. |
| Sep 2020 | Undisclosed stage | CIBC Innovation Banking (lead) | $25M | Vena Solutions is a Toronto-based provider of cloud-based financial planning and analysis (FP&A) software that integrates with Excel to streamline budgeting, forecasting, scenario analysis, reporting, financial consolidation, and other finance-led processes for medium and large enterprises. The platform connects existing systems and data to enable real-time reporting and collaborative planning, serving over 800 clients worldwide as of September 2020. Founded in 2011, Vena had previously raised equity funding including a $115 million round led by JMI Equity in early 2019 with participation from Centana Growth Partners, bringing total venture funding to approximately $150 million CAD prior to the CIBC deal. On September 3, 2020, Vena secured US$25 million in growth capital financing from CIBC Innovation Banking in the form of a multi-part credit facility, described as non-dilutive debt to support operations amid COVID-19 uncertainties. CIBC Innovation Banking acted as the sole and lead provider for this loan, which was intended to accelerate product development, expand market reach, and provide a low-cost buffer during economic challenges affecting some customer industries. Vena's CFO Darrell Cox highlighted the facility's flexibility for general operations and growth, noting the company's value proposition strengthened in uncertain times despite impacts from the pandemic. At the time, Vena was positioned as a market leader backed by JMI Equity and Centana Growth Partners, with a track record of five straight years of triple-digit growth under prior leadership. The financing followed a pattern of debt facilities from CIBC, as Vena later secured additional debt in 2025, contributing to over $382 million in total capital raised across seven rounds. |
| Nov 2013 | Seed | Difference Capital (lead) | $3M | Vena Solutions raised $3 million from close friends and family in October 2012, using the funds to move its office to Islington and Bloor in Toronto. This early funding supported initial operations for the cloud-based financial planning and analysis (FP&A) software provider. |
Who has invested in Vena Solutions?
5 investors have backed Vena Solutions across its funding rounds, including Vista Equity Partners, JMI Equity, Centana Growth Partners, CIBC Innovation Banking and Difference Capital.
Lead investors include Vista Equity Partners, CIBC Innovation Banking and Difference Capital.
Vena Solutions Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Apr 2021 | ||
| 1 | Lead | Nov 2013 | ||
| 1 | Participant | Apr 2021 | ||
This data is available for Pro users. Sign up to see all 5 Vena Solutions investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Vena Solutions
Vena Solutions has acquired 2 companies to date.
Last acquisition by Vena Solutions was on July 27th 2026. Vena Solutions acquired MORPHEO AI INDIA PRIVATE LIMITED for undisclosed valuation.
Latest Acquisitions by Vena Solutions
| Description | Morpheo AI is a data platform developer that automates engineering tasks using AI for data handling and governance. | Acterys is a cloud-based and on-premise data discovery and planning platform integrated with Power BI and Excel. The service connects to accounting systems like SAP and QuickBooks for building financial planning and analytics models. Acterys supports FP&A processes across cost centers, HR, CAPEX, cash flow, and consolidations via pre-built reference models. Users access functionalities through web browsers and mobile devices. San Francisco-headquartered, Acterys serves finance teams in mid-sized enterprises globally. |
| HQ Country | ||
| HQ City | Bangalore | Sydney |
| Deal Date | 27 Jul 2026 | 3 Feb 2026 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Vena Solutions acquisitions and their M&A valuation multiples. Start Free Trial | ||
Vena Solutions Competitors
Vena Solutions competitors include listed companies like Workday, Sage, TOTVS and Freee, and private ones like Pennylane and HighRadius.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $9.6B | $1.2B | $48B | 4.7x | ||
| Publicly listed | $3.4B | $1B | $12B | 3.9x | ||
| Private | $115M | - | $4.3B | 37.0x | ||
| Publicly listed | $1.1B | $318M | $3.8B | 3.2x | ||
| Private | $70M | - | $3.1B | - | ||
| Publicly listed | $214M | $6M | $1.5B | 4.8x |
Vena Solutions Public Comps
Vena Solutions is still privately-owned, but its public comps include Oracle, SAP, Salesforce, Intuit, Workday, Roper Technologies, Corpay, OBIC, Tyler Technologies and Sage.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $67B | $33B | 8.6x | 7.8x | 17.7x | 13.9x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $21B | $6.9B | 4.0x | 3.9x | 12.2x | 9.1x | |||
| $9.6B | $1.2B | 5.1x | 4.7x | 42.0x | 14.2x | |||
| $7.9B | $3.2B | 6.1x | 5.7x | 15.2x | 14.6x | |||
| $4.5B | $2.4B | 7.6x | 6.8x | 14.1x | 12.7x | |||
| $869M | $688M | 14.8x | 14.2x | 18.7x | 20.9x | |||
This data is available for Pro users. Sign up to see all Vena Solutions competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Vena Solutions
| When was Vena Solutions founded? | Vena Solutions was founded in 2011. |
| Where is Vena Solutions headquartered? | Vena Solutions is headquartered in Toronto, Canada. |
| Is Vena Solutions publicly listed? | No, Vena Solutions is a private, VC-backed company. |
| How much funding has Vena Solutions raised? | Vena Solutions has raised $268M across 3 funding rounds. |
| What was Vena Solutions' last funding round? | Vena Solutions' last funding round was a $240M Series C in April 2021, led by Vista Equity Partners. |
| Who are Vena Solutions' investors? | Vena Solutions' investors include Vista Equity Partners, Difference Capital, JMI Equity, CIBC Innovation Banking and Centana Growth Partners. |
| Which companies are comparable to Vena Solutions? | Companies comparable to Vena Solutions include Workday, Sage, Pennylane, TOTVS, HighRadius and Freee. |
| How many companies has Vena Solutions acquired? | Vena Solutions has acquired 2 companies, including MORPHEO AI INDIA PRIVATE LIMITED and Acterys. |
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