Elemental Technologies, the 2007 winner of the Bend Venture Conference, recently announced that its hired its first CFO.
The Oregonian reports that Silicon Valley tech executive John Ewert will be the first person to hold the position at the Portland-based company, which makes software that streams TV to mobile devices.
Previously, Ewert had been vice president of finance at a California company, Palo Alto Networks, where he helped lead that company through its initial public stock offering. Ewert had previously held senior positions at Oracle Corp. and Sun Microsystems, and he served nine years in the U.S. Army.
The hiring of an experienced CFO is viewed as an important step as startups grow into more mature companies. And Elemental’s growth has skyrocketed in the seven years since it secured the first place $150,000 BVC prize.
The company has since raised more than $29 million in funding from investors. With reported revenues north of $21 million, Elemental employs about 160 people and has nine international offices.
I included Elemental in this story about Oregon startups I wrote for 1859 magazine a few months ago. They’re a darling of the current tech revolution happening in the state (for good reason) and many tech types (and even more so investors) are excited to see what the next couple years hold for company.
You can reach Kelly by email at [email protected].