Data management startup Cohesity has hired a chief financial officer- its first since 2017. The appointment of Robert O’Donovan signifies a change of gear in its financial strategy to emergence from VC funding status.
Cohesity needs a CFO to prepare the company for IPO, according to our sources, who say a trade sale is the less preferred option. O’Donovan joins the company from DataStax, where he was CFO. He also held senior positions at Pivotal and Dell EMC.
Cohesity CEO and funder Mohit Aron issued a quote: “At this important stage in the evolution and growth of Cohesity, Robert’s years of experience managing the financial operations for innovative technology market leaders will help support our ambitious business objectives.”
O’Donovan also issued a quote: “The scale and growth Cohesity has achieved is testament to the tremendous value that its data management innovations bring to organisations, and my role is to ensure the company has the best framework to continue transforming the industry.”
Cohesity last had a CFO in late 2017. Since then, SVP Lorenzo Montesi has held the financial reins, navigating the company through $250m D-round in 2018 and a $250m E-round this year. Total funding now stands at $660m. Montesi will now report to O’Donovan.