Alfresco Software Taps Veteran Silicon Valley CFO, Bruce Felt, to Join Its Board
Outpacing ECM Market Growth Overall by 3x, Alfresco Deepens Bench to Guide Growth
San Mateo, July 16, 2014 – Fueled by a differentiated hybrid model in the Enterprise Content Management (ECM) industry and unique with its open-source DNA, Alfresco Software today welcomed Bruce Felt, a highly-regarded Silicon Valley CFO, to its Board. Felt is expected to lead Alfresco’s Audit Committee, a subcommittee of the Board that is responsible for the financial operations of the company. Most recently serving in roles at Auction.com and SuccessFactors, Inc., Felt has guided several successful technology companies through rapid growth and expansion.
In the new report, Market Share Analysis: Enterprise Content Management, Worldwide, 2013, Gartner, Inc. reported that the ECM market grew 8.6% in 2013 to a worldwide market size of $5.1 billion. 1 Even more significant is that based on organic growth, Alfresco is exceeding the overall ECM market growth pace by more than 3X, based on revenue.2
“With Alfresco’s rapid growth trajectory, it’s critical that we have executives – in the family - with track records of success in helping companies achieve their business aspirations,” said Doug Dennerline, CEO of Alfresco. “Bruce’s broad financial experience and relationships will serve us well. I’m very proud that we continue to attract such high-caliber Board members to Alfresco.”
Alfresco is fortunate to benefit from decades of enterprise and management experience from Board executives who have consistently been top performers within their respective organizations. http://www.alfresco.com/company/board. The addition of Bruce Felt to the Alfresco Board only deepens that bench strength.
Felt brings 25 years of experience in financial operations and management at high-growth companies in the technology sector. Prior to Auction.com, Bruce spent six years as CFO at SuccessFactors, Inc., now an SAP Company. During his very successful tenure at SuccessFactors, he led the Company through its IPO, significant growth, six acquisitions as well as its $3.4 billion sale to SAP. Prior to joining SuccessFactors, Bruce was CFO of several other leading software companies including LANDesk Software, Integral Development Corp. and FullTime Software. He was also a founder, CFO and Director of Sales at Renaissance Software. Bruce currently serves as a Board Member of Hightail Inc. (formerly YouSendIt), Yodlee, and Answers.com.
“While market forces are dramatically changing the ECM requirements for large enterprises today, Alfresco is at the forefront of solving business pain points with its differentiated and modern ECM solutions,” commented Bruce Felt. “I’m thrilled to be joining the Alfresco Board and to be a part of a company that is offering customers a path to the future of ECM and disrupting an industry along the way.”
Since 2005, Alfresco has enabled companies to more effectively collaborate across the extended enterprise and put their content to work. It does so by meeting the needs of both IT and the business, by reducing information silos and making content smart, secure and actionable. Alfresco is simply the smarter way to access, manage, deliver and secure content.
Alfresco helps teams share, manage and retain content across the extended enterprise with simplicity that end users love and smarts that IT can endorse. Alfresco enables more than 1,300 organizations in more than 180 countries to collaborate more effectively, improve business process efficiency and ensure information governance. Across cloud, mobile, hybrid and on-premise environments, Alfresco is smart enterprise content made easy. Founded in 2005, Alfresco is headquartered in Maidenhead, outside of London with U.S. headquarters in San Mateo. Learn more at: www.alfresco.com.
1Gartner, Inc. Market Share Analysis: Enterprise Content Management, Worldwide, 2013 Analyst(s): Tom Eid, Bianca Francesca Granetto, 2013 Published: 2 June 2014
2Calculations performed by Alfresco Software based on Gartner Report, Market Share Analysis: Enterprise Content Management, Worldwide, 2013 Analyst(s): Tom Eid, Bianca Francesca Granetto, 2013 Published: 2 June 2014.