FourKites has appointed Bill Maw as its new Chief Financial Officer. This is the latest one of a number of appointments that the supply chain visibility provider has completed. However, this latest one appears to be because Stephen Elsasser saw an opportunity at Kantata, where he has just joined.
Maw joins FourKites at a time when supply chains are at a high priority level for product-based firms worldwide. The FourKites real-time execution platform is at the forefront of the charge to bring intelligence to supply chains. Also to automate many of the processes that are still in place. For example, its recent update for its Slot Manager solution.
Mathew Elenjickal, FourKites Founder and CEO, commented, “I’m delighted to welcome such an accomplished finance leader to FourKites at a time when we are scaling around the world for continued growth and category leadership. With expertise spanning finance strategy, planning, execution, risk management, operations, capital-raising, M&A, and more, Bill is the mature financial veteran FourKites needs during this next stage of global growth and innovation.”
Maw is not the only recent new joiner. In August, FourKites announced the appointment of three other executives. The company has seen substantial growth recently. Increasing its customer base by 28% in the last year. A 37% growth in its carrier networks and a 27% growth in shipment volume. That success was recognised by FourKites being named a Leader in the 2023 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms (RTTVPs).
The success has seen it announce a new APAC headquarters in Chennai’s DLF Cybercity. It has also opened a new global headquarters in Chicago, with its European team led from an office in Amsterdam. There are offices in Munich, Germany and Singapore as well.
In addition, Maw joins FourKites at a time of significant growth momentum. Over the last year, FourKites has seen a 28% increase in customers. With 37% growth in its carrier network, and 27% growth in shipment volume across more than 200 countries and territories.
Who is Bill Maw
Maw has a long career leading finance teams as an angel investor and board member. He spent twelve years as Chief Financial Officer at Liquidnet, a financial technology company that operates a global institutional trading network. He led the company through M&A activity and funding rounds and co-led its IPO in 2008. With FourKites last raising $80 million in June 2022, is this a signal that it is now considering an IPO in 2024? Maw certainly has the experience to lead the firm through that process.
Maw also held senior finance positions with Deep Labs, Covius, and GE Equipment Services. He began his career in audit with Peat Marwick Mitchell (now KPMG) and PwC. He is also a board member and Chair of the audit committee at PYXERA Global Inc. Maw has invested in over 15 seed-stage companies and acts as an advisor to several.
Maw commented, “I am thrilled to be joining FourKites as CFO, particularly at such an exciting time in the company’s storied history. Not only does FourKites boast a stellar track record of innovation and customer success, but it is taking nothing for granted as it scales up for the next stage of company growth and maturity. I’m excited to bring my skillset to this endeavor, and to be part of such a dynamic, collaborative and customer-obsessed team.”
Enterprise Times: What does this mean
Where Elsasser was brought on board to bring public company financial practices to the later-stage startup in preparation for an eventual exit for their venture capital and private equity investors, Maw will take it a step further. There was, however, no mention of an upcoming IPO in the announcement. The question will no doubt be asked as the company looks to further growth in 2024. If not an IPO, then perhaps a substantial Series E funding round.
