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Cohesity ramps up IPO move with new hires

Cohesity ramps up IPO move with new hires

Cloud data management vendor Cohesity is ramping up its IPO preparations with key appointments to prepare the markets.

It has named Eric Brown as chief financial officer and Srinivasan Murari as chief development officer.

“The company has made a strategic shift in pursuit of a sustainable growth model that prioritises positive cash flow from operations,” said the firm. The company, a big channel player, now expects to reach positive cash flow within fiscal year 2024 (1 August, 2023 to 31 July, 2024) while “preserving a healthy cash position”.

In 2021, Brown led Informatica’s initial public offering as CFO, raising $1 billion in proceeds at a $10 billion enterprise value. Prior to that, he served in several public company CFO roles, including at Electronic Arts, McAfee, and Polycom.

Murari will be responsible for Cohesity’s engineering and R&D teams as they continue to focus on AI, security and multi-cloud. He most recently served as vice president of engineering at Google Cloud, where he was responsible for the productivity of around 20,000 software engineers. Before Google, Murari served as SVP of engineering at VMware.

“My role is to ensure the company has the best financial framework for sustainable, profitable growth, and leverage my experience to make Cohesity public company-ready,” said Brown.

Sanjay Poonen, CEO and president of Cohesity, added: “All of our key metrics indicate we are building a category leader with a focus on public readiness. We are taking share in our market by top-line growth while also aiming to become cash flow positive within our current fiscal year.

“Along with our other recent leadership appointments, these ones position us well for our plans to become public.”