Enterprise cloud financial planning software firm Vena Solutions Inc. said today it has raised $115 million in new funding to scale up its operations.
The Series D round was led by JMI Equity and included existing investor Centana Growth Partners.
Founded in 2011, Vena offers cloud-based financial planning and analysis software that mixes Excel with a centralized database that includes sophisticated workflow, reporting and advanced analytics tools.
Aimed primarily at medium-sized to large enterprises, the company claims it does not make users choose between a rigid, packaged application and an uncontrolled spreadsheet environment to perform the finance and accounting business processes, instead combining the two.
The company’s platform is aimed at automating budgeting, planning and forecasting, as well as management reporting and analysis, operational planning and other spreadsheet-intensive business processes.[embedded content]
“Vena has proven its value to hundreds of satisfied customers with software that’s easy to use, quick to adopt and instrumental for making timely, informed business decisions,” Don Mal (pictured), chief executive officer of Vena Solutions, said in a statement.
While not providing a hard figure, the company said it has more than 500 customers. Notable among them are Marks & Spencer group plc, Nike Inc., Ocean Spray Cranberries Inc., Docker Inc., Nutanix Inc. and White Castle System Inc.
The new round takes the total amount raised by Vena to $148 million.
Image: Vena Solutions
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