MINNEAPOLIS, MN— Insite Software has released two major announcements:
Due to significant growth, former chief operating officer of Deloitte Investments, Tony Abena, has been appointed as chief executive officer. Also due to growth, a new round of capital funding of $15 million has been secured from Volition Capital to help support Insite’s growth momentum.
Tony Abena brings nearly 25 years of experience in high-growth leadership roles in Web, Content, Big Data, and Software‐as-a-Services (SaaS) sectors. He is a proven leader in driving revenue growth and profits through innovation. Most recently he served as chief operating officer of Deloitte Investments, an internal start-up division within Deloitte LLP, focused on acquiring, building and growing a market-leading information and SaaS portfolio of businesses in specific vertical market segments for C-level decision makers and knowledge workers.
Abena has been a member of the Insite Software board of directors since June 2014, and in addition to his new role as CEO, he also will continue to serve in his board member capacity.
Abena’s experience in leadership and innovation will play a key role in taking the company to the next level through new investments in product, services, and cultivating new and expanded partnerships with system implementers and key technology and data providers. Former Insite Software CEO Steve Shaffer remains with the company and will serve as president and chief financial officer.
Prior to his tenure as COO of Deloitte Investments, Abena was president, Business of Law Division at Thomson Reuters, the world’s leading provider of intelligent information for businesses and professionals. Prior to this, he was a senior executive at industry analyst firm Gartner.
Insite has also announced a new round of growth capital funding of $15 million from Volition Capital, a Boston-based growth equity firm that principally invests in high-potential, founder-owned companies across different technology sectors.
Roger Hurwitz, managing partner of Volition Capital will join Insite’s Board of Directors.
Insite Software has grown significantly over the past 12 months, nearly doubling employment and significantly expanding its customer roster of leading manufacturers and distributors. The new round of funding will be used to continue the momentum of its growth with strategic investments in its products, data-driven applications, and services to meet the needs of its expanding customer base.
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