DotNetNuke Corp. Names Lee McGrath as Chief Financial Officer
SAN MATEO, Calif. – July 22, 2010 – DotNetNuke Corp
., the company behind the most widely adopted Web Content Management Platform for Microsoft .NET, today announced that Lee McGrath
has joined the company as Chief Financial Officer effective July 12, 2010. In this new role, McGrath will be responsible for ensuring that the company's financial and administrative functions scale to support company growth and will be a key part of the executive team in setting the strategic direction of the company.
Prior to joining DotNetNuke Corp., McGrath served as CFO at Librato, Inc., a provider of resource management software for cloud computing and physical data center environments, where he closed a $5 million venture debt loan and $3 million preferred stock round. Before Librato, he was CFO of PANTA Systems, a manufacturer of data warehouse appliances, where he secured several rounds of bridge financing, a $5 million loan facility with key commercial bankers and led the due diligence process for a proposed acquisition transaction by a Fortune 500 software company. As CFO of Versant Corp. (NASDAQ:VSNT), a database software company, McGrath led four acquisitions and one divestiture, managed the S4 registration process on an acquisition of a public company, moved the company from NASDAQ’s NMS to SmallCap market and was a key part of the investor relation programs to maintain compliance with NASDAQ’s listing requirements. McGrath previously served as Director of Financial Planning and Analysis at Philips Electronics where he was part of the due diligence team on Philips’ $4 billion joint venture with LG in Korea, Controller for Digital Link Corp. (NASDAQ:DLNK), and held a variety of positions spanning the globe for Measurex Corp. (NYSE/PSE: MX, later acquired by Honeywell). Lee is a Chartered Certified Accountant and holds a master’s degree in business administration from Pepperdine University.
About DotNetNuke Corp.
Navin Nagiah, President and CEO at DotNetNuke Corp.:
Lee McGrath, Chief Financial Officer at DotNetNuke Corp.
“Lee brings more than 20 years of experience to DotNetNuke Corp. in a wide range of finance roles at public and private companies. His extensive background in operations, strategic planning, accounting and finance operations, and merger and acquisition due diligence and negotiations, make him a valuable asset to the company as we continue to grow at a rapid rate to meet customer and market demand. We are delighted to have him on our team.”
“I am extremely pleased to join DotNetNuke Corp. as it doubles its customer base and receives four prestigious industry accolades. I look forward to working with the executive team to further the company’s position in the market and ensure its sustained success. The high growth rate of the company’s revenues and its continually expanding customer base make this a very attractive opportunity.”
DotNetNuke Corp. is the steward of the DotNetNuke
open source project, the most widely adopted Web Content Management Platform for building web sites and web applications on Microsoft .NET. Organizations use DotNetNuke to quickly develop and deploy interactive and dynamic web sites, intranets, extranets and web applications. The DotNetNuke platform is available in a free Community
and subscription-based Professional
and Elite Premier
Editions. DotNetNuke Corp. also operates Snowcovered.com
where users purchase third party DotNetNuke apps. Founded in 2006 and funded by Sierra Ventures, August Capital, and Pelion Venture Partners, DotNetNuke Corp. is headquartered in San Mateo, Calif. For additional information, visit www.dotnetnuke.com
DotNetNuke(R) and DNN(R) are registered trademarks of DNN Corp. All other registered and unregistered trademarks in this document are the sole property of their respective owners.
DotNetNuke Corp. Marketing