In an email exchange with The VAR Guy, Axcient CEO Justin Moore revealed:
"John [Finegan] actually came to us through one of my board members (the former CEO of Shoretel) who had worked with John at a number of companies. John has that rare combination of pragmatism and strategy that is rare in a CFO. What's more, he gets that businesses, and more importantly people, can't be run from a spreadsheet."In a lengthy email, Moore described how Finegan "has a hawkish eye on every penny the company spends and brings that harsh dose of reality to the table that only a CFO can bring, he gets the people part, the culture part and the strategy part extremely well."
Oh, and About That IPO ExpertiseDig a little deeper in the email exchange, and Moore finally mentions those IPO aspirations. Yes, Axcient is building a company for the long haul. But that could also include an initial public offering at some point. "Finegan's deep knowledge of the channel, his strong track-record with IPO's and his overall successful career as a CFO of large and growing companies and John became an obvious choice [for CFO].
Within the IT channel, numerous storage companies are attempting to promote BDR (backup and disaster recovery) solutions to VARs and MSPs. Often, the conversations involve MSP-centric options in the small business market. But Moore is working hard to keep Axcient focused on larger opportunities -- seeking to displace Symantec Backup Exec and other entrenched solutions within mid-market organizations, and seeking slightly larger VARs that can assist those efforts.
Moore has also been careful not to hype managed services as a fast lane to big profits. During a recent HP-Axcient conference in New York, he outlined a five-year path to help VARs and MSPs generate $700,000 in annual recurring revenues.
The VAR Guy wonders: Will Axcient's potential path to IPO also require five years? Or does Finegan and Axcient's board have something in mind for something sooner... Hmmm...