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Engageware Appoints Software Veteran Nina Vellayan as Chief Executive Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Engageware has appointed Nina Vellayan as its new CEO, bringing over 25 years of experience in software and technology to the role. Vellayan is expected to lead the company's continued growth, capitalizing on its record annual recurring revenue and profitability. With a focus on enhancing customer engagement solutions for financial institutions and expanding into specialty retail, healthcare, and education, Engageware is well-positioned for future success. Previously, Vellayan held senior roles at various financial and technology firms, including COO of Official Payments (NASDAQ: OPAY) and CEO of Sallie Mae (NASDAQ: SLM).
Positive
Nina Vellayan's extensive experience in software and technology is expected to drive growth.
Record annual recurring revenue and profitability reported, indicating strong financial health.
Engageware is positioned to expand its customer engagement solutions into new industries.
Negative
Concerns may arise regarding continuity in leadership and the transition period.
—Premier customer engagement SaaS provider taps top technology executive with track record of success to lead company’s continued growth—
TEWKSBURY, Mass.--(BUSINESS WIRE)--
Engageware, the industry-leading provider of customer engagement software for financial institutions, today announced that it has appointed Nina Vellayan as Chief Executive Officer (CEO). Vellayan brings more than 25 years of experience and a proven track record of success in leading software and technology businesses. As CEO, Vellayan’s visionary approach and effective leadership style will further propel Engageware’s ability to scale to meet market demand as the company reports record annual recurring revenue and profitability.
Engageware provides industry-leading SaaS technology and expert know-how to help organizations better engage their customers. Trusted by more than 500 financial institutions, wealth managers and retail organizations, the company’s customer self-service, appointment scheduling and employee knowledge management solutions deliver a quality customer experience across virtual and physical channels. Engageware is a portfolio company of private equity firm Clearhaven Partners.
“We are thrilled to welcome Nina as CEO of Engageware,” said Michelle Noon, Chair of the Board and Co-Founder and Managing Partner at Clearhaven Partners. “Nina is joining at a pivotal point in the company’s growth trajectory and her passion, experience and commitment to excellence are critically important to Engageware’s continued success. Nina’s infectious energy and drive will have an immediate positive impact to motivate our talented teams along the journey. Her experience scaling SaaS organizations efficiently aligns well with our corporate objectives. As Engageware enters a new phase of growth and development, Nina’s leadership will play a tremendous role in building upon the company’s leadership position in customer engagement software to position the company for success well into the future.”
“I am honored to be joining Engageware and to lead the company through its next phase of growth. Engageware’s foundational strengths as the leader in customer engagement software for financial services, coupled with the Company’s scale and profitability, provide a firm foundation for our next-level objectives to deliver customer-driven product innovation and growth,” said Nina Vellayan, CEO, Engageware. “We maintain a commitment to our leadership position as a trusted provider to financial services businesses and are keen to expand upon our success delivering to customers in specialty retail, healthcare and higher education – industries that require proven enterprise solutions and digital engagement technology to support their own expansion and reduce costs.”
Prior to joining Engageware, Nina held multiple senior-level executive positions within financial, payments and software technology organizations. Nina’s previous leadership roles include CEO, Xeeva; CEO of FrontStream Payments; COO of Official Payments (Nasdaq: OPAY); and divisional President at Sallie Mae (Nasdaq: SLM).
Engageware, formerly known as TimeTrade Systems, has been a pioneer in customer engagement solutions for more than 20 years. Engageware’s leading appointment scheduling and knowledge management solutions are leveraged by more than 500 organizations to help improve employee productivity and efficiency, enable a modern digital customer experience and drive customer growth. Engageware recently released ENGAGE 2023, its annual research report on Customer Engagement in Banking Trends, which highlights that financial institutions that deliver meaningful customer engagement to their customers will retain those customers longer. When it comes to driving customer engagement in 2023, 43% of banks and credit unions surveyed say that digital is their organization’s top priority. In addition, Engageware’s customers have experienced, on average, 71% higher loan growth than their industry peers (based on Q2 2022 data).
About Engageware
Engageware provides industry-leading technology and expert know-how to help organizations better engage their customers. Having surpassed scheduling more than one billion online appointments, and trusted by more than 500 organizations, Engageware’s self-service, appointment scheduling, and knowledge management SaaS solutions – combined and integrated with those of our market-leading partners – make it easy for customers to answer their questions quickly, connect to the right resources when scheduled expertise is needed, and get a consistent, efficient experience when help from a representative is required. Organizations that use our customer engagement solutions deliver quality customer experiences no matter the channel — enabling faster growth with greater efficiency.
Clearhaven Partners is a Boston-based private equity firm focused exclusively on software and technology investments. Clearhaven was founded by an investor-operator team to partner with growing, differentiated companies with at least $20 million in recurring revenue. Clearhaven brings a collective 50+ years of software investing and operating experience to its portfolio companies through its partnership approach and its value creation playbook to help companies scale profitably. Visit us at www.clearhavenpartners.com. Follow us on LinkedIn and Twitter.
What impact will Nina Vellayan's appointment have on Engageware's growth?
Nina Vellayan's appointment as CEO is expected to positively influence Engageware's growth trajectory due to her extensive experience in scaling software companies.
What companies did Nina Vellayan lead before joining Engageware?
Before joining Engageware, Nina Vellayan held leadership positions at Xeeva, FrontStream Payments, and was COO at Official Payments (NASDAQ: OPAY).
How has Engageware performed financially prior to Vellayan's appointment?
Engageware reported record annual recurring revenue and profitability, showcasing its strong financial position prior to Nina Vellayan's appointment.
What are Engageware's plans for expansion under Vellayan's leadership?
Under Vellayan's leadership, Engageware aims to expand its customer engagement solutions into sectors like specialty retail, healthcare, and higher education.
What experience does Nina Vellayan bring to Engageware?
Nina Vellayan brings over 25 years of experience in software and technology, focusing on customer engagement and SaaS growth.
