Doors Appointment Image by Esa Riutta from PixabayAgiloft has announced that founder Colin Earl retired as Chief Technology Officer in July and is replaced by John Pechacek. Earl will remain active in the company as a member of the Board of Directors. Pechacek is not the only new senior hire. The company also announced it had appointed Laura Richardson as its General Counsel.

A new CTO

John Pechacek, CTO Agiloft
John Pechacek, CTO Agiloft

Pechacek joined in June, so there would have been some handover with Earl. He came from Velocity Solutions, where he led a technology team as CTO that was the 2021 NAFCU services innovation award winner for its Account Revenue Solution. It is also a 2022 finalist for its Consumer Liquidity Engine. Before Velocity, Pechacek was Vice President of Software Engineering for PayScale for five years. There, he led the B2B software development, helping grow the product from $10M to $100M. Pechacek also worked at a leading analytics firm, SAS, for 11 years. At SAS he led a new team that built and delivered a solution for the bank stress testing (financial risk) space. After only a year, the solution was recognised as a leader in the space by Chartis.

Pechacek commented: “Agiloft’s record growth last year, including 100% increase in new customer sales in response to the red-hot CLM market, makes this an exciting time to join the team and lead technology and development. With our advancements in integration, AI, and machine learning, complemented by our flexible no-code platform, we will further our reputation for user-centric design as we innovate to make doing business easier for our customers.”

Pechacek brings 30 years of experience and an impressive resume that includes building solutions that sell, wins awards and are recognised by analysts. While Agiloft is already a leader in the Gartner CLM Quadrant, there is room for improvement with DocuSign and arguably Icertis ahead. The big question is how he will follow Earl, who has helped build the market-leading CLM technology platform. It will be interesting to see what iterative changes he intends to make in the coming months.

Eric Laughlin, Agiloft CEO, commented: “Pechacek is a hands-on CTO that will deliver the next generation of industry-leading CLM solutions that our customers need to help drive their business forward. This marks the beginning of a new chapter at Agiloft, as Pechacek builds on and extends our founder’s legacy. Fortunately, Earl will also remain connected to the business with his role on the board of directors.”

A first General Counsel?

The appointment of Laura Richardson as General Counsel is also significant. It appears as though she will be the first General Counsel at the software vendor. This is a recognition of its growth in the market and the need for further legal technology expertise. Richardson is an acknowledged speaker. She will complement the Agiloft leadership team with someone that the lawyers within its prospects will recognise as a kindred spirit. She comes to Agiloft have served as General Counsel and Senior Counsel within technology companies such as Osso VR and Intel Corporation. During her career, she has worked for enterprises, in the public sector and at a law firm. She is also a charter member for TechGC, an independent, invitation-only, peer community where General Counsels share knowledge and support each other throughout their careers.

Laughlin commented: “With the addition of Richardson to our leadership team, we are expanding our expertise and furthering our ability to scale with a rising star in the legal industry. Her experience, affiliations, and leadership in the legal community give her valuable perspective on enterprise contracting and for the challenges that arise during times of uncertainty.”

Richardson also has credentials that seem a perfect fit for Agiloft. She has a BA in Anthropology from Kenyon College and a bachelor’s degree in computer science from the University of Minnesota. She is a graduate of the University of California, Los Angeles School of Law, where she received her Juris Doctor. Richardson is licensed to practice law in California and Oregon.

Richardson commented: “We have reached a pivotal moment in the contract management industry. I’m excited to join a team that is responding to this opportunity and delivering a truly transformative impact with technology. The innovation that Agiloft brings to CLM drives revenue, reduces risk, and automates operations in a way that is collaborative and business-centric for customers across industries.”

Enterprise Times: What does this mean

Both of these hires are significant. Pechacek has a hard act to follow. How will he evolve Earl’s strategy? While Earl has stepped down, he has not stepped away entirely. That relationship will need to develop over the next few months enabling Pechacek to assume full control.

In Richardson, he has a new colleague with expertise in legal operations that might have some inciteful input. Richardson’s appointment demonstrated the maturity of Agiloft as a company. Richardson also has experience raising funds, as she would have been involved in the $66 million Osso VR raised in March 2022, just before her departure. It will be interesting to see whether that experience also factored into her appointment. Her experience as a public speaker could also make a difference. It will be interesting to hear what she says once she has settled in.

LEAVE A REPLY

Please enter your comment!
Please enter your name here