insightsoftware has announced that Michael Sullivan has been appointed CEO. He joined the company from Acquia where, as President and CEO for the last five years, he helped build that company with product development achieved both organically and through acquisition. He also led the company through its acquisition by Vista Equity Partners in 2019.
Before Acquia, he was founder President and CEO of Steelpoint Technologies, leading the company through its acquisition by Zantaz. It was subsequently bought by HP Autonomy, before becoming HPE, where he became SVP & General Manager, SaaS and Information Governance. He then supported the merger of HPE’s software division with Microfocus before being snapped up by Acquia.
He has now decided to take on a new challenge after a successful stint at the company that owns Drupal. He has vast experience in leading and growing SaaS companies and was named among the top 50 SaaS CEOs of 2022.
Owners TA Associates and Hg believe they have the right man to take them to the next growth stage.
Hythem El-Nazer, Managing Director at TA Associates, commented, “As we look to insightsoftware’s next phase of growth, we believe Mike’s diverse leadership experience, entrepreneurial spirit and focus on delivering a superior client experience make him the right choice to spearhead the business.”
Nic Humphries, Senior Partner and Executive Chairman of Hg, added, “We look forward to partnering with Mike to drive continued organic and acquisitive growth and to bring new products and functionality to customers.”
Looking back
Insightsoftware has grown tremendously under Jim Triandiflou and shows no sign of stopping. When Enterprise Times spoke to Triandiflou recently, he inferred the company would look to expand in Europe with the advice of Hg. Formed in 2018 as insightsoftware, it has acquired 24 vendors during its history and now has over 32,000 customers worldwide. Triandiflou joined in 2020 and has completed 12 acquisitions and expanded the breadth of the global customer base.
Mark Friedman, Executive Chairman of insightsoftware and Managing Director of ST6, a minority investor in insightsoftware, said, “On behalf of the insightsoftware board of directors, we want to recognize and thank Jim for his contributions and leadership as CEO. Jim played an integral role in insightsoftware’s journey and has helped set the course for continued growth. We are excited to build on this momentum with Mike and further establish the company’s industry leadership.”
What will Triandiflou do now? Will he look to work on more boards in partnership with a VC firm such as Norwest Ventures or Vista Equity, or has he already lined up another CEO role?
Looking Forward
There is one certainty, the acquisitions are unlikely to stop. With the backing of TA and Hg, expect targeted acquisitions during what could be a tough year for some vendors. Insightsoftware will hope to pick up a few bargains. Those could include companies struggling with cash flow in an inflationary economy.
Sullivan noted, “As businesses face a global recession, technology solutions that help leaders safeguard against risk and make more informed decisions have become increasingly important. With its suite of software solutions proven to empower teams and drive better business outcomes, insightsoftware has built an incredible reputation and become a trusted partner to customers.
“It is a real honor to be asked to lead insightsoftware. The company has experienced tremendous success and is growing at record pace. I am excited to build on its strong foundation to drive new levels of growth and innovation. I look forward to working alongside its world-class team.”
Enterprise Times: What does this mean
In some ways, Triandiflou and Sullivan have similar qualities. Both are experienced and successful leaders in growing software organisations. What is unsaid in the press release is why Triandiflou and Sullivan left their respective companies. Perhaps both of them want a new challenge. Five years is a decent tenure and perhaps time for a change. It will be interesting to see what he brings.
Despite the announcement, the change has been some time in coming, with them both working on a transition process. Acquia appointed Stephen Reny as its CEO in December last year, and it is also certain that the transition has been happening since then. It means that Sullivan will hit the ground running in 2023. He should be able to drive the company forward without a pause.
