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Riskified Expands Leadership Team with Appointment of President of Worldwide Field Operations to Propel Growth
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Riskified (NYSE: RSKD) has appointed Ravi Kumaraswami as President of Worldwide Field Operations to enhance sales and strategic partnerships. This leadership change comes as the company reports a 20% year-over-year increase in gross merchandise volume, reaching $22.7 billion for Q1 2022, along with record revenues of $58.8 million. Kumaraswami's extensive background, including leadership roles at Crownpeak and SAP Ariba, is expected to drive further growth and capitalize on the company's strong market position, especially with a 99% customer retention rate.
Positive
Appointment of Ravi Kumaraswami brings over 20 years of relevant experience.
Record Q1 2022 revenues of $58.8 million demonstrate strong growth.
20% increase in gross merchandise volume to $22.7 billion reflects market strength.
99% customer retention rate indicates high client satisfaction and loyalty.
Negative
None.
Continuing its strong Q1 momentum, the company taps tech veteran Ravi Kumaraswami to lead global field operations and oversee all sales, marketing and strategic partnership efforts
NEW YORK--(BUSINESS WIRE)--
Riskified, Ltd. (NYSE: RSKD), a fraud management platform enabling frictionless eCommerce, today announced the addition of technology leader Ravi Kumaraswami as President of Worldwide Field Operations. Kumaraswami joins as the company looks to further capitalize on its strong market position and drive future growth. During the first quarter of 2022, we reviewed $22.7 billion of gross merchandise volume (GMV) for merchants, up 20% year over year, and achieved record first quarter revenues of $58.8 million.
Kumaraswami will lead Riskified’s global field operations and oversee all sales, marketing and strategic partnership efforts.
“With continued growth within our diversified customer base, continuous enhancement of our machine learning platform, and the resurgence of travel, live events and other in-person activities, Ravi is joining at an exciting time in our journey,” said Eido Gal, co-founder and CEO of Riskified. “Ravi will drive the strategy and operations of our global sales, marketing and channel teams, and will identify new opportunities and partnerships to further accelerate our growth. His extensive experience and proven sales leadership will be a strong addition to the team, and we’re excited to have him on board.”
Kumaraswami brings more than 20 years of experience leading revenue-generating functions to Riskified. Prior to joining the company, he served as CEO of Crownpeak Technologies, a digital experience software platform provider, where he helped double revenue through strategic expansion and acquisition while generating positive EBITDA. Before Crownpeak, Kumaraswami was the Chief Revenue Officer at Lithium Technologies where he led the team in generating more than double ARR while reaching breakeven EBITDA, and he also served as the Senior Vice President of Global Sales at SAP Ariba, where he oversaw the growth of the business from $450 million to $700 million in revenue during his tenure.
“Riskified’s differentiated approach to solving eCommerce fraud with its machine learning platform combined with a network of the world’s largest enterprise merchants has proven to be an impactful, scalable investment for organizations around the globe,” said Kumaraswami. “The company’s 99% customer retention rate is unrivaled in this industry, and as the first publicly traded eCommerce fraud solution provider, Riskified is shaping the future of eCommerce. I’m excited to be part of such an innovative team, and look forward to working together to deliver meaningful value for our merchants and shareholders.”
About Riskified
Riskified empowers businesses to realize the full potential of eCommerce by making it safe, accessible, and frictionless. We have built a next-generation eCommerce risk management platform that allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, our platform identifies the individual behind each online interaction, helping merchants—our customers—eliminate risk and uncertainty from their business. We drive higher sales and reduce fraud and other operating costs for our merchants and strive to provide superior consumer experiences, as compared to our merchants’ performance prior to onboarding us. Learn more at riskified.com.
What is the significance of Ravi Kumaraswami's appointment at Riskified?
Ravi Kumaraswami's appointment as President of Worldwide Field Operations is significant as he brings over 20 years of experience in driving revenue growth and strategic partnerships, which can enhance Riskified's market position.
How did Riskified perform financially in Q1 2022?
Riskified achieved record revenues of $58.8 million in Q1 2022, a 20% increase in gross merchandise volume to $22.7 billion, indicating strong financial performance.
What impact might Kumaraswami's leadership have on Riskified's growth?
Kumaraswami's leadership is expected to accelerate growth by identifying new opportunities and enhancing sales and marketing strategies, leveraging his extensive experience.
What is Riskified's customer retention rate?
Riskified boasts an impressive customer retention rate of 99%, showcasing its effective fraud management solutions and customer satisfaction.
What experience does Ravi Kumaraswami have prior to joining Riskified?
Before joining Riskified, Kumaraswami served as CEO at Crownpeak Technologies, where he doubled revenue, and held significant roles at Lithium Technologies and SAP Ariba.
