This article first appeared on Austin Business Journal.
With the appointment of its first-ever chief financial officer, 20 percent year-over-year revenue growth and the opening of a Paris office, Zilliant Inc. continues to build on last year’s $30 million investment from Goldman Sachs Group Inc.
Zilliant CEO Greg Peters had been fulfilling the duties of CFO for the Austin company that builds software to help businesses make informed decisions about sales and pricing.
But “we’re at a size now where I can’t do it any longer,” Peters said.
Phil Fraher joined Zilliant in March as CFO after decades of experience in the software industry. Most recently, he served as a senior adviser to Houston-based PAS Inc. and president and CFO of cybersecurity company Bask Technologies Inc.
Fraher has led, turned around and overseen the sale of several software businesses.
Peters praised his “strong background in helping mold and grow software companies,” and said Fraher’s presence will allow the CEO to “focus on the strategic direction of [Zilliant] and spend more time with customers.”
In a statement, Fraher said it was an exciting time to join the company.
“Zilliant is helping [business-to-business] organizations transform their traditional and digital channels to maximize the immediate value of every transaction,” Fraher said. “The company is helping their customers create a significant competitive advantage.”
Zilliant is projected to hit $40 million in annual revenue this year, Peters said.
The company has about 135 employees and roughly 50 full-time offshore contractors, he said.
Since the Goldman Sachs (NYSE: GS) investment, Zilliant has increased its payroll by about 10 percent “across all categories, but mainly in product development, sales and marketing and data science,” Peters said.
The company continues to hire and is focusing on those same types of positions, he said.
In addition to the Texas capital and Paris, Zilliant also has offices in North Carolina and London.
Zilliant achieved profitability for the first time last year, Peters said, but remains in growth mode as it reinvests those earnings to continue company expansion.
The Goldman Sachs investment allowed Zilliant to clean up its balance sheet and reduce outstanding debt, Peters said.
No plans exist for additional fundraising, he added.
“With the backing of an investor like Goldman Sachs, it provides us the opportunity to think about more energetic growth,” Peters said.
Zilliant, founded in 1999, makes software that can sift through piles of data to help businesses make strategic decisions — such as how to price a product and what products to up-sell to a certain customer.