Hunter Madeley to Lead FP&A Cloud Vendor as Canada’s Next Breakout Tech Company
August 8, 2019, Toronto – Vena Solutions, the only FP&A Cloud that’s trusted by finance and loved by business, today announced it has appointed cloud software growth veteran Hunter Madeley as its new chief executive officer, effective immediately. Founding CEO Don Mal announced his retirement as chief executive and will remain with the company in an advisory and support role.
Madeley’s career spans 20 years driving rapid growth for some of the biggest names in software-as-a-service (SaaS). He joins Vena from global marketing automation and customer relationship management (CRM) firm HubSpot, where as chief sales officer he led annual revenue growth from $80 million to nearly $600 million in just five years. Previously, he helped double worldwide sales to $4 billion at SaaS and CRM pioneer Salesforce.com.
“I’ve had the privilege of leading wonderful growth engines at some of the world’s most important companies in cloud software, but I’ve long envisioned bringing that experience back home to help a Canadian tech firm do great things in becoming a global standard,” said Madeley. “Now is the right time for me and my family, Canada is the right place to build a world-class company, and Vena is the right company with the right culture to make that vision a reality. The team at Vena has done some amazing work together and I’m thrilled to be playing a role in the next phase of our growth.”
Madeley’s appointment is the latest step in Vena’s march to serving tens of thousands of customers worldwide. As CEO, his priorities will be accelerating Vena’s industry-leading growth and scaling the business with a keen focus on customer experience and value. For Madeley, Vena is an opportunity to achieve a long-term goal of returning to Canada to lead the country’s next global technology success story.
“I talk to Canadian tech CEOs all the time and it’s clear the country is at an inflection point. Tech CEOs aren’t building companies to find an exit strategy anymore,” added Madeley. “We’re building companies to thrive on the world stage – companies built to last.”
“We are delighted to welcome Hunter as Vena’s CEO,” said Peter Arrowsmith, General Partner at JMI Equity and member of Vena’s Board of Directors. “His exceptional leadership experience, passion for building and empowering great teams, and ability to drive significant growth will help Vena continue expanding its market leadership in cloud corporate performance management and propel the company’s next phase of success.”
“We’re very excited to have Hunter join Vena to continue its innovative expansion as a market leader in FP&A software. He has demonstrated a clear ability to lead companies through transformative growth that delivers value to customers, partners, employees, and shareholders,” said Eric Byunn, Partner at Centana Growth Partners and fellow Vena Board member. “We also want to thank Don for his years of tireless service to the company, and for bringing Vena to this point of significant momentum.”
Under Mal’s sales-driven leadership, Vena quickly became the fastest growing company in its sector with five straight years of triple-digit growth. Entering a market with larger, established incumbents in 2011, today Vena is widely recognized as the leader in ease of use, customer satisfaction and product functionality. This year Vena has continued to hit new milestones with two more quarters of record revenue growth, new industry and analyst recognition, and raising $115 million in growth capital in one of the largest tech deals in Canadian history.
“I couldn’t be more proud of all we’ve accomplished in the eight years since Rishi, George and I founded the company, and Vena couldn’t be in better hands – or better positioned for accelerated growth – under Hunter’s leadership,” said Don Mal, Vena’s co-founder and outgoing CEO.
After eight years at Vena’s helm, Mal is retiring to pursue long-time personal passions. Co-founders Rishi Grover and George Papayiannis are continuing their full-time commitment to Vena in their capacities as chief solutions architect and chief technology officer respectively.
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Vena Solutions delivers the only FP&A Cloud that finance trusts and business users love. Customers choose Vena for its renowned ease of use, powerful reporting and analytics and connected platform of applications covering the full spectrum of FP&A – from account reconciliation and budgeting to scenario modeling and management dashboards. Hundreds of the world’s smartest companies rely on Vena to measure and learn from their past performance, and plan confidently for a successful future.
Michael A. Corcoran