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April 30, 2012
Axcient CFO John FineganAxcient, a cloud storage provider that works closely with VARs and MSPs, has IPO (initial public offerings) aspirations. Indeed, Axcient has hired a CFO — John Finegan (pictured) — who has previously led IPOs at Cornerstone and ShoreTel. The question is: How soon does Finegan think Axcient could potentially be ready for an IPO?
My best guess: Axcient, which will be at this week’s Kaseya Connect 2012 conference, is still a year or two away from any potential IPO moves.
Axcient raised $15.5 million in Series C funding while growing revenues 400 percent last year, and last I heard a good portion of Axcient’s venture capital money was still in the bank. Plus, Axcient would need to make sure that the broader economy was in good shape before testing the IPO waters.
Meanwhile, additional recent executive hires at Axcient Include:
VP of Operations Jeff Teddleton: An experienced SaaS executive who, Axcient said, built a global IT team at WebEx and maintained 99.95% service availability and compliance at Zuora.
VP Customer Satisfaction Pam Lyra, VP Customer Satisfaction, a passionate support professional who developed a global customer service presence for WebEx, Trimble, and a number of startups in her 20+ year career.
I need to double-check if Axcient has filled another high-level post: A channel channel chief opportunity to help drive the company’s relationships with VARs and MSPs, especially partners that can help to push Axcient deeper into the mid-market, I believe.
On the one hand, Axcient competes in the extremely crowded market for cloud storage. But on the other, Axcient, has made considerable noise promoting its home-grown cloud-based data protection service, which runs atop HP hardware.
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