Elizabethtown, KY - Venminder, Inc., the national leader in third party risk management, today announced that it has appointed accomplished technology executive James Hyde as chief executive officer to lead the firm to its next phase of growth.
“I’m thrilled to welcome James onboard and excited to watch him take Venminder to the next level,” said Dana Bowers, Founder and former CEO of Venminder. “His experience driving the top line, passion for serving the customer and energy leading strong teams make him an extraordinary fit for Venminder. He is the perfect person to continue building on Venminder’s success and momentum.”
Hyde has led an impressive career driving fintech and SaaS companies to achieve rapid and sustainable growth. Most recently, Hyde was instrumental in propelling Braintree to evolve from a startup phase to one of the most successful global payment processors. Braintree sold to PayPal in 2016 where Hyde continued his role until now. Prior to Braintree, Hyde served as SVP of Sales at iPay Technologies. Under his sales leadership, iPay became one of the largest independent bill pay providers in the United States with a 40 percent market share when it sold to Jack Henry and Associates in 2010.
“I’m very excited to take on this role and drive the future of the company,” said Hyde. “Venminder has that rare combination of a loyal client base, passionate customer service, great product with driven technology innovation and amazingly talented people. I’m committed to driving meaningful growth and creating extraordinary experiences for Venminder’s customers and employees alike. Our mission remains unchanged – to solve the challenges of third party risk management.”
Venminder’s SaaS-based software platform has taken the industry by storm by providing the perfect solution for all things vendor-related as it guides users through critical processes such as contract management, risk assessments, due diligence requirements, questionnaires and task management. The firm’s popular suite of outsourced due diligence services includes collecting documents and then assessing them for risk in cybersecurity, information security, business continuity/disaster recovery and financial health.
“Venminder has pioneered a new age in third party risk management by dramatically reducing the workload essential to meeting demanding regulatory requirements,” stated Mike Krupka, managing director at Bain Capital Ventures and lead investor in Venminder. “James has a track record of strong leadership, and we’re confident in his ability to lead Venminder through the next stage of exponential growth."
Bowers will continue to serve at Venminder as Chief Solutions Architect and board member, assisting the company with long-term strategy and innovative product development. Bowers has served as Venminder’s CEO for the last five years growing the company into the third party risk management leader it is today with over 550 customers nationwide, ranging in size from small to some of the largest companies in the financial services sector.
“Venminder has an exciting future ahead,” Bowers said, “The firm has become the standard for how financial services companies and vendors work together to ensure risk is identified and managed appropriately. With the company’s scale and success to date, James has the perfect platform to broaden our reach as we continue to delight customers with executing successful third party risk programs.”
To learn more about Venminder, please visit www.venminder.com.
About Venminder
Venminder is the industry’s leading firm dedicated to third party risk management. The firm offers a suite of software and managed services that can guide your organization to effectively and efficiently manage vendors throughout the lifecycle of the relationship. For more information visit www.venminder.com for more information.
About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in enterprise software, infrastructure software and industries being transformed by data. Bain Capital Ventures has helped launch and commercialize more than 200 companies since 1984, including DocuSign, Jet.com, Kiva Systems, LinkedIn, Rapid7, Rent the Runway, SendGrid, SurveyMonkey, Taleo, Turbonomic and TellApart. Bain Capital Ventures has approximately $3.9 billion in assets under management with offices in San Francisco, Palo Alto, New York and Boston. Follow the firm via LinkedIn or Twitter.
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