Vena sold perpetual on-premise licenses before pivoting to cloud within one year
Don Mal · They hit $100M ARR—in a "crowded market". Here's how they got to $1M ARR in just 18 months. | Don... · PMF Show · Sep 3, 2024 · at 8:48
Don Mal, co-founder and former CEO of Vena, explains how the company originally architected and monetized its financial software before converting to SaaS.
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“Early days, we were an on-premise solution actually. But within about a year, George, you know, really determined we needed to be a cloud first, you know, type of application be, you know, when I say cloud first, we cloud second, I guess, but it was really quickly after we started that George converted the code to be, you know, multi-tenant. Cloud software. And we were able to sell it then also on a subscription basis versus, you know, our first, let's call it, 20 customers were more on premise perpetual licensing.”
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