Security News
Kyle Alspach
The cybersecurity powerhouse cited new CFO Marc Cabi’s experience with initial public offerings in his hire.
Optiv announced Thursday it has hired a new CFO and CIO as it continues laying the groundwork for going public.
The new hires at the cybersecurity solution and services powerhouse are Marc Cabi as CFO and Michael Feliton as CIO, Denver-based Optiv disclosed.
[Related: 7 Cybersecurity CEOs That Are Eyeing An IPO]
Cabi was most recently CFO at InvestCloud, a SaaS provider for the wealth management sector, and before that was deputy CFO at customer service software maker Zendesk. He initially joined Zendesk as vice president of strategy and head of investor relations in early 2014, shortly before its 2014 IPO.
In a news release, Optiv CEO Kevin Lynch cited Cabi’s “experience in fostering a growth lifecycle, private funding and IPO offerings.” The new Optiv CFO brings “deep capital markets experience” and a strong track record as a financial leader, Lynch said.
Earlier in his career, Cabi held managing director and director positions at Credit Suisse First Boston, Salomon Smith Barney and Deutsche Bank, Optiv said.
Feliton was most recently CIO at footwear company Crocs, and before that held the same position at jewelry retailer David Yurman. His experience includes a record of “solving complex global technology issues while driving innovation,” said Bill Croutch, executive vice president and general counsel at Optiv, in the news release.
Optiv—No. 24 on CRN’s 2023 Solution Provider 500—has been preparing for an IPO that would aim to bring new funds into the business for acquisitions along with creating liquidity for employees, Lynch told CRN recently.
Still, “we don’t need to” pursue an IPO any time soon, he said, characterizing the company’s financial footing as solid.
Optiv is considering potential acquisitions, and going public would be one potential avenue for funding those in the future, Lynch said.
In terms of creating liquidity for employees, “owner-driven companies are better companies, period,” he said. “Our ambition is not only to find the capital to continue to fuel and fund our growth, but it’s to put equity and opportunity in the hands of everybody in the company.”
Optiv is already “on file with the SEC,” Lynch said. “But we’ll wait for the public markets to be ready.”
After a nearly two-year drought of initial public offerings for major tech companies, recent weeks have seen IPOs completed by chip designer Arm, marketing automation firm Klaviyo and grocery delivery service Instacart.
In addition to Optiv, other potential IPO contenders in the cybersecurity market include Rubrik, Cohesity, Snyk and Netskope.
