The people
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Working at Fluence Technologies
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About
Fluence Technologies was founded in Toronto in October 2019 by three people who had already built in the category: Don Mal, founding CEO of the Toronto planning software company Vena; John Power, who ran Longview as CEO for a decade; and Herve Capo, who built the consolidation engine and became VP of product. The pitch was that financial consolidation and close software had stayed slow and implementation-heavy while planning tools got easier, and that mid-market finance teams would buy something they could run themselves. The company raised a $12.5 million CAD Series A in 2021, when Michael Morrison took over as CEO from Power, and added disclosure management through an acquisition in 2022. Anaplan agreed to acquire Fluence in 2024. Mal spoke at Best of TechTO in February 2020 about humility in leadership, as the company's executive chairman.
Backers
Raised a $12.5 million CAD Series A reported by BetaKit; trade coverage names Banneker Partners as a lead investor, which is not confirmed here. Anaplan agreed to acquire the company in 2024.
Quick answers
What does Fluence Technologies do?
It makes financial consolidation, close and reporting software for finance teams — the month-end and group-reporting work that sits between the accounting system and the board pack.
Who founded Fluence Technologies?
Don Mal, John Power and Herve Capo, in Toronto in October 2019. Mal had founded Vena; Power had run Longview; Capo built the consolidation engine.
What happened to Fluence Technologies?
Anaplan agreed to acquire it in 2024 and to fold its software into the Anaplan platform, co-led on the product side by Capo.