Hippo, Wrapbook, and more rely on Vareto’s strategic finance platform as company revenue doubles two quarters in a row.
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–#cfo—Vareto, the modern FP&A platform leader, announced three key hires and the continued expansion of its customer base. BJ Ebert joins Vareto as Head of Customer Success, alongside Melody Chen as Head of Marketing and Vera DeVera as Head of Community. Together, Ebert, Chen, and DeVera bring over 25 years of experience building and scaling at enterprise and high-growth B2B companies. These hires reflect Vareto’s continued momentum as a market leader in the mid-market and enterprise segment.
“As a former finance leader, I’ve experienced first-hand how manual and tedious the FP&A process can be,” said Ebert. “Information is siloed in different systems, and gathering input from business units requires continuous back and forth. This creates a difficult tension between gathering enough data to make informed decisions and needing to adapt quickly to a constantly-changing business environment. I joined Vareto because Vareto is the only company building the right tools to solve that challenge.”
Vareto enables finance teams to collaborate with their business stakeholders and bring real-time visibility on business performance to the financial planning and analysis (FP&A) process—a $100+ billion market. The average finance team spends at least 65% of their time on repetitive planning, forecasting, and reporting processes, such as data collection and validation, as well as manual generation of executive and department budget versus actual (BvA) reports. Businesses that rely on these time-consuming processes lack the resources for high-impact, strategic initiatives.
Over the past year, Vareto’s SaaS platform has helped high-growth and public companies streamline these critical business planning, forecasting, and reporting processes. Vareto has industry-leading time to value, with onboarding in weeks, instead of months, without the need to hire third-party implementation specialists. Vareto’s native integrations with ERP, CRM, HRIS, and other business systems automatically pull in financial and operational data, enabling Vareto to be the one source of truth for company health. Users can easily create and share custom financial reports on their own, without outside consultants. This allows FP&A teams and company leadership to quickly access the data needed to form an accurate, real-time understanding of business growth and areas of opportunity. With its in-product collaboration features, Vareto enables finance teams and their business stakeholders to share inputs, understand context, and build trust. Vareto has seen significant usage of Vareto outside the finance department — most of Vareto’s users are business users looking to understand organization performance and partner with finance on operational decision-making.
“Prior to Vareto, because we didn’t have one source of truth for all data, everyone had their own definitions in their own tools,” said Ankur Verma, CFO of Mindtickle. “Now, everyone is looking at the same dashboard with the same definitions. Vareto has eliminated the debates and noise that consumed a lot of time. Everyone is focused on the numbers versus how we arrived at that number. Vareto has built transparency and trust in the reporting. Vareto is indispensable to how we run and grow the company.”
The company has rapidly grown its customer base by providing clear, tangible value as an output multiplier. Existing customers such as Hippo, Wrapbook, and Landing have seen a 60-80% reduction in time spent on manual reporting processes.
Vareto’s key metrics this past year include:
- Doubled revenue two quarters in a row.
- Expanded its customer base by 10x
- Tripled employee headcount
- 75% of board directors are women
Vareto was also named one of the top 100 early-stage companies to work for in 2022 by executive search firm Will Reed and received gold for the Employee Champion Award.
“One of Vareto’s main differentiators is our people,” said Vareto CEO Kat Orekhova. “We have a deep bench of talent that has scaled products and teams from the ground up at companies such as Smartsheet and Ironclad. Other Vareto leaders have led teams at enterprise companies such as Meta and Hewlett Packard. We also have FP&A embedded in our DNA — our Customer Success, Product, Design, and Engineering teams include talent with finance backgrounds, which enables us to build a thoughtful product with deep empathy for our users and their needs.”
To learn more about Vareto’s modern FP&A solutions, customers, and career opportunities, visit: https://www.vareto.com
Vareto is the leading modern finance platform that enables FP&A teams and their business partners to focus on high-impact, strategic work throughout the business planning, forecasting, and reporting process. Vareto is backed by Menlo Ventures, GV (formerly Google Ventures), and more than 100 angel investors, including Asana COO Anne Raimondi, former Salesforce President & CFO Emeritus Mark Hawkins, Splunk CFO Jason Child, Meta CFO Dave Wehner, Affirm CFO Michael Linford, and Egnyte CEO and co-founder Vineet Jain.
Melody Chen, [email protected]