Michelle Sidwell Joins Velo3D as Executive Vice President of Global Sales and Business Development

Rhea-AI Summary

Velo3D appoints Michelle Sidwell as EVP of Global Sales and Business Development to support growth objectives and maintain growth rate

Positive

• Velo3D has scaled its revenue approximately 400% since becoming a public company in September 2021, from $7 million in Q2 '21 to $28 million in Q2 '23
• Sidwell has extensive experience scaling revenue at companies like Salesloft, Adobe, and Yext

Negative

• None.

With More Than 20 Years of Experience Focused on Transformative Technologies, Sidwell Will Guide Velo3D’s Sales Strategy as it Scales Revenue and Drives Adoption of its Metal 3D Printing Technology

CAMPBELL, Calif.--(BUSINESS WIRE)-- Velo3D, Inc. (NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced Michelle Sidwell has joined the company as Executive Vice President of Global Sales and Business Development to support the company’s growth objectives and lead its sales and business development teams. With more than 20 years of experience in technology sales and leadership positions supporting businesses bringing transformative technologies to market, Sidwell is well positioned to help Velo3D continue its significant growth.

Michelle Sidwell Joins Velo3D as Executive Vice President of Global Sales and Business Development (Photo: Business Wire)

Since becoming a public company in September 2021, Velo3D has scaled its revenue approximately 400%—from $7 million in Q2 ’21 to $28 million in Q2 ’23. By bringing on Sidwell, who has extensive experience scaling revenue at companies like Salesloft, Adobe, and Yext, the company aims to maintain its growth, secure new customers, and identify expansion opportunities with existing accounts.

“We’re thrilled to have Michelle join the company and are confident that her wealth of knowledge and experience will help us maintain our growth rate to become the largest in our industry based on gross sales,” said Benny Buller, Velo3D Cofounder and CEO. “She brings extensive experience launching new products into market, streamlining sales processes, growing revenue, and working with customers to find solutions to their problems—which is exactly what we need as a company.”

Prior to joining Velo3D, Sidwell was the SVP of Global Enterprise Business at Salesloft, focusing on revenue growth and sales excellence. Salesloft provides sales teams with an AI-powered revenue workflow platform that can improve the sales process for users. She also spent nearly five years at Yext, helping the company grow revenue from $60 million to $300 million over a period when it also became a publicly traded company. She also held sales and leadership roles at Adobe, Persado, and Walsworth.

“Over the course of my career, I’ve been fascinated by technologies that aren’t just changing the world, but changing the future, just like Velo3D’s additive manufacturing technology is doing in some of the most innovative industries in the world,” said Sidwell. “It’s impressive to see what Velo3D has accomplished over its lifetime. The growth achieved by the sales team is extremely impressive and I’m looking forward to working with the brilliant team to continue to scale the business and help our customers with their biggest engineering challenges.”

Velo3D was founded in 2014 to help engineers manufacture their most challenging designs using metal 3D printing. The company began shipping its Sapphire printers in 2018, quickly scaling to $15 million in sales in 2019. In 2021, the company began shipping its large format Sapphire XC printer, which has quickly become one of its most popular products. According to analyst firm CONTEXT, Velo3D is now the second largest provider of laser powder bed fusion metal 3D printers in the world and, by bringing on Sidwell, the company aims to continue this growth.

As EVP of Global Sales and Business Development, Sidwell will be responsible for leading the Velo3D sales team across North America, Europe, Asia, and Australia. She will also oversee the company’s business development team, which works with engineers in various industries to identify opportunities where metal 3D printing can transform their manufacturing processes, connecting them with the company’s network of contract manufacturers.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named as one of Fast Company’s Most Innovative Companies for 2023. For more information, please visit Velo3D.com, or follow the company on LinkedIn or Twitter.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations regarding its growth and the Company’s other expectations, hopes, beliefs, intentions, or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Velo, Velo3D, Sapphire, and Intelligent Fusion, are registered trademarks of Velo3D, Inc. Without Compromise, Flow and Assure, are trademarks of Velo3D, Inc.

All Rights Reserved © Velo3D, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230912984530/en/

Media Contact:

Dan Sorensen, Senior Director of Public Relations

press@velo3d.com

Investor Relations:

Bob Okunski, VP Investor Relations

investors@velo3d.com

Source: Velo3D, Inc.