SAN CARLOS, Calif. — May 26, 2011 — MarkLogic Corporation, the company revolutionizing the way organizations leverage unstructured information, today announced that Steven Springsteel has joined the company as Chief Financial Officer. He has more than 25 years of experience in operational and financial management at software companies in Silicon Valley.
“We are pleased to have Steve join our executive team at a time of both tremendous growth as a company and increased interest in MarkLogic solutions for big data and unstructured information,” said Ken Bado, president and CEO, MarkLogic. “Steve brings valuable operational and public company experience that will undoubtedly be useful as MarkLogic’s growth continues to surpass expectations. I am excited to have his wealth of knowledge and experience as MarkLogic taps into new markets, both in the U.S. and internationally.”
Springsteel joins MarkLogic from the leading Silicon Valley based venture capital firm, U.S. Venture Partners, where he was an Entrepreneur-in-Residence. The program is designed for experienced executives, like Springsteel, who can spot early stage opportunities likely to provide high returns.
Prior to U.S. Venture Partners, Springsteel held president and CEO positions at other software firms including Chordiant Software, Verity, and Sagent Technology. As chairman, president, and CEO of Chordiant, he brought the company to profitability for the first time, more than doubled the company’s bookings to a record level of $200 million, and expanded into new international markets. Springsteel successfully defended Chordiant against a public hostile takeover attempt, and then later guided the sale of the company to Pegasystems for a significantly higher price.
“I am thrilled to have the opportunity to join the MarkLogic team at a time when the company is growing rapidly and preparing strategically for the road ahead,” said Springsteel. “MarkLogic products are a proven solution for organizations with big data and unstructured information challenges – both of which will fuel its growth going forward. I am excited to play a key role in the success of MarkLogic as we work toward our ambitious goal of continued and long-term growth.”
In 2008, Springsteel was awarded the prestigious Ernst and Young “Entrepreneur of the Year” award for Software in Northern California. Springsteel has a bachelor’s degree in business administration from Cleveland State University. He is currently on the board of directors for Zend Technologies and the board of trustees for California State Parks Foundation.
MarkLogic helps customers create value from complex data faster. Our platform ingests data from any source, creating and refining metadata to support powerful models. Customers use these models for deep search and query, building enterprise applications and bringing unique insights to analytics and machine learning.
Vector Capital is a San Francisco-based leading global private equity firm focused on transformative investments in technology and technology-enabled businesses. Founded in 1997, Vector oversees approximately $4 billion of capital across its private equity and credit strategies from a variety of investors including university endowments, foundations, and financial institutions. With our disciplined approach to valuation and deep-rooted operational experience, Vector has generated competitive returns and established a successful track record spanning nearly 25 years. For more information, please visit www.vectorcapital.com.