Press Release
Jigsaw Names Steven Klei as Chief Financial Officer
SaaS Business Model Expert Brings Over 20 Years of Experience to High Growth Leader in Data-Driven Cloud Services
SAN FRANCISCO, CALIF. — September 3, 2009 — Jigsaw, a pioneer in Data as a Service (Daas), today announced that Steven Klei has joined the Jigsaw executive management team as Chief Financial Officer (CFO). Klei joins Jigsaw at an exciting time. The company is seeing adoption of its expanding data-driven cloud services, as well as expansion in its partner and user-community both of which are driving rapid recurring revenue growth, even in a challenging economy.
Klei joins Jigsaw from Xactly Corporation where he was interim CFO responsible for building systems, processes and establishing the financial infrastructure at the sales performance management software company. He also completed the acquisition of the chief SaaS competitor and secured $40 million in capital in one of the largest ever rounds of SaaS-related venture capital.
Before Xactly he was CFO at ZANTAZ, a SaaS provider of email and E-Discovery solutions for enterprise class companies. During his tenure, the company grew from $30 million to $125 million, and he led the sale of the company to Autonomy Corp Plc for over $400 million. He previously was CFO for ProBusiness Services, a SaaS provider of payroll services, which grew from $7 million to $175 million and where he led the IPO and the ultimate sale to ADP for over $500 million.
"Steve's experience with three successful rapid growth SaaS companies is unmatched and make him an excellent fit for our team and our Company," said Jim Fowler, CEO of Jigsaw. "We are delighted that Jigsaw's continued success and revenue growth has enabled us to expand our executive management team, and we look forward to leveraging his unique insight and expertise as Jigsaw continues its rapid growth trajectory."
"Jigsaw has experienced tremendous growth as a leader and disruptor in the data industry," said Steve Klei, Chief Financial Officer, Jigsaw. "I believe the Company will continue its rapid growth and dramatically increase its market presence. Jigsaw is a unique opportunity because of its innovative products, recurring revenue model, strong balance sheet and ability to generate cash. Combined with its unique culture, I think this will create a break out opportunity that employees, the user community and customers will want to be a part of and support."
About Jigsaw
Jigsaw (www.jigsaw.com) is a leading provider of business information and data services that uniquely leverages user-generated content contributed by its global business-to-business community of 900,000 members. Jigsaw gives individuals and companies access to contact information for 16 million business people and profiles of 3 million companies. In addition to delivering low-cost and easy access to high-value business information for sales, marketing, recruiting and customer service, Jigsaw provides companies with cloud-based data acquisition and management services. Founded in 2004, Jigsaw is located in San Mateo, Calif. and funded by Austin Ventures, El Dorado Ventures, and Norwest Venture Partners.
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