Cloud backup and data protection software provider Axcient has hired Barracuda, EMC and NetApp veteran Rod Mathews as CEO. Mathews, a merger and acquisitions (M&A) expert, essentially succeeds David Bennett, who exited to join Object First earlier this year.
Mathews arrives at a key time for Axcient. The MSP-focused software provider competes in the crowded cloud backup, disaster recovery and business continuity markets. In addition to entrenched rivals like Acronis, Kaseya’s Datto business unit and the OpenText Carbonite business unit, dozens of companies now promote direct-to-cloud and BDR services to MSPs. Moreover, high-end providers such as Veeam have also caught on with MSPs, and MSP platform providers such as N-able Cove and NinjaOne are in the market.
Despite that competition, multiple MSPs tell ChannelE2E that they have increased their spend with Axcient in recent months. The MSP partner engagements are led by Axcient Chief Revenue Officer Charlie Tomeo and a team of channel engagement experts. Still, we don’t have specific monthly recurring revenue (MRR) or EBITDA figures for the software provider.
Axcient merged with eFolder in 2017, and the company remains backed by private equity firm K1 Capital of Manhattan Beach, California. Over the past two or three years, ChannelE2E assumed Axcient could be on the sell-side of a potential M&A deal. Fast forward to present day, and new CEO Rod Mathews has plenty of buy-side M&A (merger and acquisition) experience.
The evidence: At Barracuda Networks, Mathews led corporate development and alliances, and was general manager for the data protection business. During his tour of duty, Barracuda completed nine acquisitions and championed MSP partners as the go-to-market business strategy, Axcient noted in the hiring announcement.
Axcient Names New CEO: Executive Perspectives
In a prepared statement about the CEO hire, Axcient Executive Chair Jim DuBois said:
“Rod is a seasoned IT industry veteran with a deep understanding of the data protection space and the Managed Service Provider community. He has built a reputation for not just introducing innovative SaaS solutions, but also for leading high-performing teams that execute at scale. I am confident he is the right leader to accelerate Axcient’s momentum to the next level of success.”
“I am excited to join the Axcient team and build on their track record of growth. Data protection has never been more critical to Managed Service Providers and their SMB clients, and today’s challenging economic environment puts a premium on solutions like Axcient’s that protect data from ransomware and other malicious attacks, deliver disaster recovery as a service, and reduce costs for MSPs. I see a great opportunity ahead for Axcient to rapidly extend our reach to even more partners with the right Business Continuity and Disaster Recovery (BCDR) solutions to Protect Everything.”
Next up, Mathews is expected to surface during Axcient’s MSP Xperience virtual event, which is scheduled for October 20.