Faction Appoints New Chief Financial Officer, Bolsters Executive Team
Faction, the leading Multi-cloud Managed Service Provider, headquartered in Denver, CO, announced today the expansion of its senior leadership team with the addition of Dan Grote as its Chief Financial Officer. As CFO, Dan will be responsible for the company’s financial leadership and will report to Faction’s CEO, Luke Norris.
“I am thrilled to have Dan join our senior leadership team during this exciting time of remarkable growth and expansion in the Multi-Cloud services market,” commented Luke Norris, Faction CEO and founder. “Dan’s proven experience scaling companies within our industry is timely, especially with our new offering for managed VMware Cloud on AWS and the supporting Multi-Cloud storage services. Faction will benefit from his proven capabilities with large scale financings, global expansion, M&A, and IPO.”
Dan brings over 25 years of software and technology finance and operations experience to Faction, including CFO roles at Recondo, ReadyTalk, and netFactor, and financial leadership roles at Market Force Information and Verio. During his tenure at Verio, a pioneering Infrastructure as a Service (Iaas) company, Dan helped grow the company from 40 to 3,500 employees, and from zero to $350M in revenue. At Verio, Dan was instrumental in completing 63 M&A transactions, a successful IPO, and a subsequent sale of the company to NTT Communications for $6B.
At Market Force, Dan led fundraising activities resulting in $40 million in equity investment and $20 million in debt financing. Over the course of his extensive career, Dan has created and implemented financial controls and processes while keeping employee flexibility and autonomy in mind at multiple companies.
“Two aspects of Faction that appeal to me are the growth trajectory and company culture,” said Grote. “There’s an incredible amount of growth and expansion happening in our industry. I’m excited to join Faction at this point in the company’s life cycle and look forward to enabling more of the continued success Faction has experienced in recent years.”
Dan is the second addition to the senior leadership team at Faction in recent months. In September, David Scholtz joined Faction as President and COO. Both new positions will play fundamental roles in Faction’s growth and operational initiatives moving forward.
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Denver-based Faction® is a leading multi-cloud managed service provider that empowers customers by giving them maximum control in an unmatched hybrid & multi-cloud environment that performs like on-prem, scales like public, and connects them like never before. Faction® is a Platinum-level NetApp Service Provider, Premier Partner in the VMware® Cloud Provider Program (VCPP) and an early access partner for VMware Cloud on AWS. Faction® has SOC 1 & 2, HIPAA compliant and PCI capable cloud nodes in 7 geographies across North America. Follow us on Twitter (@FactionInc) and LinkedIn. For more information, please visit www.www.factioninc.com
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