Zoovu Appoints James Novak as CEO

Rhea-AI Summary

Zoovu announces the appointment of James Novak as CEO, bringing over two decades of experience in enterprise SaaS. Previously CEO of Fiix, Novak led its revenue growth by over 1,000% before its acquisition by Rockwell Automation (NYSE: ROK). His leadership will help Zoovu strengthen its AI-driven Discovery Experience Platform, targeting rapid growth within the exploding digital commerce market, projected to reach $17 trillion by 2030. With established operations in North America and EMEA, Zoovu continues to enhance its platform, serving over 250 enterprise customers.

Positive

• Appointment of CEO James Novak, who has a proven track record in growing SaaS companies.
• Expected market expansion and growth potential in the digital commerce sector, which is projected to reach $17 trillion by 2030.
• Zoovu's recent funding of $169 million to bolster their AI and data-driven Discovery Platform.

Negative

• Concerns about continuity and experience gaps with the leadership change.

Enterprise SaaS veteran to expand Zoovu’s position as Discovery Experience leader and accelerate U.S. growth

BOSTON--(BUSINESS WIRE)-- Zoovu, an AI-powered Discovery Experience Platform for B2B and B2C e-commerce, today announced the appointment of James Novak as chief executive officer. Novak brings more than two decades of enterprise SaaS experience scaling companies globally and building AI-driven, multi-product platforms.

Before joining Zoovu, Novak served as CEO of Fiix, a cloud-based, AI-enabled asset management and maintenance software platform that empowers industrial companies to modernize their operations. Under his leadership, Fiix grew its revenue more than 1,000 percent and was acquired in 2021 by Rockwell Automation (NYSE: ROK), a prominent global automation company in the Fortune 500. Prior to Fiix, Novak held various executive leadership roles at Blackberry, where he oversaw the hardware, software and services business for one of the largest carrier partners and channels globally. He also helped drive Blackberry’s successful entry into new markets, including Latin America, The Gulf region and Eastern Europe.

“I am thrilled to join Zoovu as CEO at a pivotal time for the company as we embark on this next chapter of long-term growth and market expansion,” said Novak. “The digital commerce market is exploding, and brands are eager to change the way they interact with consumers in new and innovative ways. Zoovu is building the teams and platform to disrupt product discovery, so businesses and consumers can finally break free from choice paralysis by removing the friction so many are faced with today. E-commerce is just the tip of the iceberg; this affects many other verticals and industries.”

Headquartered in Boston, Zoovu is a global company with over 250 employees and established operations in EMEA and North America. Following 3x revenue growth in the last three years, the company secured $169 million in funding in early 2022 from leading growth equity firm FTV Capital to further strengthen its AI and data-driven Discovery Platform and accelerate its go-to-market strategy, particularly in North America. Zoovu boasts 250 enterprise customers globally and has a rapidly expanding set of customers, including leading brands such as 3M, Columbia, Microsoft and Whirlpool.

“James has extensive SaaS and AI experience with an impressive track record of building global businesses at scale. His technology leadership and customer-focused mindset make him the ideal leader as we continue to scale and expand into new markets, particularly in North America,” said Brad Bernstein, board member and managing partner at FTV Capital. “As brands heighten their focus and attention on delivering better digital experiences, we’re excited about the tremendous market opportunity ahead and look forward to working with James and the rest of Zoovu’s strong leadership team.”

A pioneer in the Discovery Category, Zoovu helps B2B and B2C businesses deliver engaging customer experiences that enable buyers to make the right purchase decision and convert. Zoovu’s Discovery Platform combines a semantic data solution that organizes, structures and enriches businesses’ incomplete and disparate product data, and leading-edge AI engagement experiences including conversation assistants, configuration and search. With the digital commerce market projected to reach $17 trillion by 2030, growing at 15 percent CAGR, Zoovu’s innovative offering has enormous growth potential within a thriving market and beyond as the company looks to expand to a number of other markets in the near future.

About Zoovu

Zoovu empowers businesses to help buyers discover products and make purchase decisions, wherever they are. The AI-driven platform structures product content and enriches it with language that people understand to enable powerful and personalized Discovery Experiences such as visual configurators, semantic search and conversational assistants across all digital channels and partners. Companies such as 3M, Amazon, BSH and Logitech use Zoovu’s secure and scalable no-code platform to engage, educate and convert customers, streamline buyer journeys, and deliver great purchase experiences to millions of customers worldwide, daily. For more information, please visit www.zoovu.com and follow us on Linkedin.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005227/en/

Media

Zoovu

Sarah Assous

s.assous@zoovu.com

617-794-5571

Source: Zoovu

FAQ

Who is the new CEO of Zoovu?

James Novak has been appointed as the new CEO of Zoovu.

What experience does James Novak bring to Zoovu?

James Novak has over 20 years of experience in enterprise SaaS, previously serving as CEO of Fiix, where he significantly increased revenue.

What are Zoovu's growth plans under James Novak?

Zoovu aims to expand its AI-driven Discovery Experience Platform and capture a larger share of the digital commerce market.

How does the new CEO's past influence Zoovu's future?

James Novak's successful track record of scaling SaaS companies could lead to increased growth and market presence for Zoovu.

What market opportunity is Zoovu targeting?

Zoovu is targeting the digital commerce market, which is expected to grow to $17 trillion by 2030.