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Versa Networks Expands Executive Leadership Team to Continue Global Expansion and Meeting Accelerating Worldwide Demand for Versa SASE
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Versa Networks has appointed Lalit Kumar as its first Chief Financial Officer. Kumar, a seasoned finance leader with over 20 years of SaaS experience, previously served at Medallia (NYSE:MDLA) where he significantly increased revenue and led a successful IPO. His background also includes transformative roles at NetSuite, achieving over $1B in annual recurring revenue, and nearly a decade at Dell. CEO Kelly Ahuja stated that Kumar's expertise will help accelerate Versa’s growth as demand for its Secure Access Service Edge solutions rises.
Positive
Lalit Kumar's extensive experience in SaaS growth and successful IPOs.
Kumar's leadership at Medallia, where he doubled revenue in three years.
Expectations that Kumar's appointment will strengthen Versa's financial strategy and growth.
Negative
Concerns about continuity and potential experience gaps with a new CFO.
Former SaaS Financial Executive at Medallia and NetSuite Lalit Kumar Named Company’s First Chief Financial Officer
SAN JOSE, Calif.--(BUSINESS WIRE)--
Versa Networks, the leader in Secure Access Service Edge (SASE), today announced it has named former Medallia and NetSuite financial executive Lalit Kumar as its first Chief Financial Officer (CFO). Mr. Kumar joins Versa to further develop the financial infrastructure, teams, and processes which will increase the company’s already impressive growth.
Versa Networks has named former SaaS financial executive at Medallia and NetSuite Lalit Kumar as the company’s first Chief Financial Officer. (Photo: Business Wire)
“Great people build world-class products and serve illustrious companies,” said Mr. Kumar. “The opportunity to work with the most talented minds and serve the most demanding customers is why I am so excited to be the first CFO at Versa Networks. I look forward to building the finance organization and helping take Versa to the next level.”
Mr. Kumar is a seasoned SaaS growth finance leader with more than 20 years of experience leading the growth of companies, including multiple successful exits. Most recently, he was at Medallia (NYSE:MDLA) where he led a successful IPO and robust growth doubling revenue in his three years there. Prior to Medallia, Mr. Kumar led NetSuite through transformative growth with annual reoccurring revenue doubling to more than $1B, and ultimately to a successful buyout by Oracle in one of the largest enterprise software deals at that time. Early in his career, Mr. Kumar spent nearly 10 years at Dell Inc. leading the company through a period of rapid growth and significant IT landscape transformation. He holds an MBA from The University of Texas at Austin, and a Bachelor of Engineering degree from The Indian Institute of Technology, Roorkee.
“Lalit brings proven leadership in driving growth, successful exits, and building processes that Versa will leverage to continue on our aggressive growth trajectory,” said Kelly Ahuja, CEO with Versa Networks. “We look forward to benefiting from his proven expertise in scaling startups as we continue our rapid growth and global expansion to meet rising worldwide demand for Versa SASE.”
Versa Networks offers Versa SASE as a SaaS, delivering tightly integrated services via the cloud, on-premises, or as a blended combination of both via Versa Operating System (VOS™) with a Single-Pass Parallel Processing architecture and managed through a single pane of glass. Versa began delivering SASE services such as VPN, Secure SD-WAN, Edge Compute Protection, Next-Generation Firewall, Next-Generation Firewall as a Service, Secure Web Gateway (SWG), and Zero Trust Network Access (ZTNA) more than five years ago. Versa uniquely provides contextual security based on user, role, device, application, location, security posture of the device, and content. As the leader in the fastest growing security and networking category, SASE, and executing on SASE services for years, Versa is the only solution proven to deliver the industry’s leading and differentiated architecture for high performance and security. Gartner has identified Versa SASE as having the most SASE components out of all 56 vendors Gartner evaluated. Enterprise Management Associates (EMA) also found that Versa SASE has the most SASE supported functions, as published in its 2021 industry report.
About Versa Networks
Versa Networks, the leader in SASE, combines extensive security, advanced networking, industry-leading SD-WAN, genuine multitenancy, and sophisticated analytics via the cloud, on-premises, or as a blended combination of both to meet SASE requirements for small to extremely large enterprises and Service Providers, and via the simplified Versa Titan cloud service designed for Lean IT. Thousands of customers globally with hundreds of thousands of sites trust Versa with their networks, security, and clouds. Versa Networks is privately held and funded by Sequoia Capital, Mayfield, Artis Ventures, Verizon Ventures, Comcast Ventures, Liberty Global Ventures, Princeville Capital, RPS Ventures and Triangle Peak Partners. For more information, visit https://www.versa-networks.com or follow Versa Networks on Twitter @versanetworks.
Versa Networks, VOS, the Versa logo, and Versa Titan are or may be registered trademarks of Versa Networks, Inc. All other marks and names mentioned herein may be trademarks of their respective companies.
