Cyngn Hires Experienced Industrial Automation VP of Sales, Marty Petraitis, to Accelerate Revenue

Rhea-AI Summary

Cyngn Inc. (Nasdaq: CYN) has appointed Marty Petraitis as Vice President of Sales to drive revenue growth and market expansion. Petraitis brings over 20 years of leadership experience in technology sectors, particularly in automation, SaaS, and manufacturing systems. His previous role at Heartland Automation involved transforming product-based offerings into solutions-focused services. At Brooks Automation, he scaled revenue to over $210M. In his new position, Petraitis will oversee Cyngn's global sales strategy and the adoption of the Enterprise Autonomy Suite (EAS) by new organizations.

Positive

• Appointment of experienced sales executive with proven track record in autonomous robotics sector
• New VP previously scaled revenue to $210M at Brooks Automation
• Expertise in transforming product-based offerings to solutions-focused services

Negative

• None.

MENLO PARK, Calif., Nov. 4, 2024 /PRNewswire/ -- Today, Cyngn Inc. (Nasdaq: CYN) announced that Marty Petraitis is joining Cyngn as Vice President of Sales. Petraitis brings over two decades of leadership experience in scaling revenue within technology-driven sectors, including automation, SaaS, and manufacturing systems. In this role, Petraitis will oversee Cyngn's global sales strategy, market expansion, and the adoption of Cyngn's Enterprise Autonomy Suite (EAS) by new organizations.

"Marty is known for his ability to transform sales organizations through value-based strategies. He has a proven track record of accelerating growth across global markets, with particular expertise in industrial automation and enterprise sales," said Cyngn CEO Lior Tal.

Prior to joining Cyngn, Petraitis led sales at Heartland Automation, where he successfully pivoted the company from product-based offerings to high-value, solutions-focused services in the autonomous mobile robotics sector. His leadership in prior roles includes executive positions at Clearpath Robotics/OTTO Motors, Segue Manufacturing Services, and Brooks Automation, where he scaled revenue to over $210M by championing strategic accounts and consultative sales methods. Marty's skill in establishing predictable revenue models, fostering channel partnerships, and aligning marketing with sales strategy has contributed to the success of numerous technology startups and established companies alike.

As Cyngn continues to expand its presence in the autonomous driving software market, the Company is focused on strengthening its sales team to meet growing customer demand. To explore current career opportunities at Cyngn, please visit https://www.cyngn.com/company/careers#current-jobs.

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Where to find Cyngn:

• Website: cyngn.com
• Twitter: twitter.com/cyngn
• LinkedIn: https://www.linkedin.com/company/cyngn
• YouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez, CFO
investors@cyngn.com 

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

 

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SOURCE Cyngn

FAQ

Who is the new Vice President of Sales at Cyngn (CYN)?

Marty Petraitis has been appointed as the new Vice President of Sales at Cyngn (CYN), bringing over two decades of leadership experience in technology sectors.

What is Marty Petraitis's previous experience before joining Cyngn (CYN)?

Before joining Cyngn, Petraitis led sales at Heartland Automation and held executive positions at Clearpath Robotics/OTTO Motors, Segue Manufacturing Services, and Brooks Automation, where he scaled revenue to over $210M.

What will be Marty Petraitis's role at Cyngn (CYN)?

At Cyngn, Petraitis will oversee the company's global sales strategy, market expansion, and the adoption of Cyngn's Enterprise Autonomy Suite (EAS) by new organizations.