PHILADELPHIA, Pa. – Monetate announced today that Lucinda Duncalfe has been named CEO. Founder and CEO David Brussin will remain with the company full time as Executive Chairman of Monetate’s Board of Directors and will be completely focused on product innovation. As a global leader in cloud-based testing and targeting, email optimization and in-the-moment personalization software, Monetate has grown revenue in the 12 month period through June 2014 by more than 60 percent over the prior year and increased revenue by over 300 percent in Europe during the first half of 2014. Duncalfe will build upon this record momentum by focusing on business execution, while continuing to support the type of product innovation that helped Monetate lead the digital personalization movement.
Duncalfe has proven experience building mature sales and operations cultures, and developing product strategies that accelerate company growth. Duncalfe has been on Monetate’s Board of Directors for the past seven years, helping the company create and establish a multi-billion dollar market for digital personalization. She was also founder and CEO of ClickEquations, an enterprise paid search management company acquired by Channel Intelligence, and TurnTide, an anti-spam technology company acquired by Symantec.
“We’ve had a product-dominated culture since our inception and I am very proud of the advancements we’ve made to bring true personalization to digital marketing. By bringing on a new CEO with tremendous operational experience, we are making the right move to ensure we scale to win,” said David Brussin, co-founder and executive chairman of the board, Monetate. “In my experience there’s no one better suited than Lucinda to guide us in this critical next phase of our journey. She brings exactly what Monetate needs today and in the future. A proven, three-time successful CEO, who is decisive, focused and inspirational.”
Monetate is helping its customers achieve unparalleled success in building brand loyalty, improving customer experiences and driving sales. In fact, during the 2013 holiday shopping season, Monetate influenced more than one third of total U.S. ecommerce sales (or one in every three dollars), and its customers dramatically outperformed their peers with 39 percent greater year on year revenue growth than the industry average.
“Marketers today have an unprecedented opportunity to build deep customer relationships by creating personalized experiences across touch points. Monetate is driving that movement forward with products that enable marketers to reach their customers at the right time with the right message,” said Lucinda Duncalfe, CEO, Monetate. “I am excited to lead the company into its next chapter of success, with a focus on operational scalability, and I look forward to developing a vibrant ecosystem of partners that share our vision.”
Duncalfe’s appointment follows Monetate’s recent addition of Bob Lawson as CFO, and the addition of marketing industry veteran Tim Kopp to its Board of Directors. About Duncalfe’s hire, Kopp comments, “We conducted an extensive search to find the right person to lead Monetate into its next chapter, and we are very confident that Lucinda has the operational expertise and is the right cultural fit for Monetate.”
Today, Monetate is also adding to the strength of its Board of Directors with the announcement of two new board members. Wayne Jackson, CEO of Sonatype, will be joining Monetate’s board immediately. Prior to Sonatype, Jackson served as the CEO Sourcefire, Inc. (NASDAQ:FIRE), which he guided from fledgling start-up through an IPO in March of 2007, and he co-founded and led Riverbed Technologies until the sale of the company for more than $1 billion. Also joining Monetate’s board is Jon Temple, President and CEO of IT service management company FrontRange Solutions. Temple has a track record of leading and accelerating growth of established and emerging software companies, including helping orchestrate the $3.3 billion acquisition of Hyperion by Oracle. David Bookspan, co-founder and chairman, will also retain his seat on the board.
“We are building a world-class leadership team with the depth and experience to take the company to the next level, and I am proud to work alongside these leaders,” said Duncalfe.