Dutch Brings More Than Three Decades of Leadership Experience in
Software, Financial Technology and Compliance.
AUSTIN,
Texas, May 1, 2024 /PRNewswire/ -- Red Oak
Compliance Solutions, a leading provider of regulatory compliance
software for the financial services industry, announced today that
Dave Dutch has joined the company as
Chief Executive Officer and as a board member. Dutch joins
Red Oak to lead the company
through its next stage of growth. Joining him is Tripp Neville, newly appointed as the company's
Chief Revenue Officer. Co-founder and former CEO, Stephen Pope, will remain on the board and focus
on strategic initiatives.
Dave Dutch
joins Red Oak Compliance Solutions as new CEO and Tripp Neville joins as CRO.
"I am excited and honored to be Red
Oak's new CEO at such a transformative time for the
company," Dutch said. "There is a growing need for compliance
solutions specific to financial institutions, and we see an
opportunity to continue to inject deep subject matter expertise
into our software platform. This is a unique opportunity to
continue shaping the way financial services firms manage their
compliance programs using a platform that is already trusted and
respected by hundreds of organizations globally."
Dutch brings a wealth of experience as a seasoned SaaS
executive, having successfully scaled several growth-stage
businesses in previous roles. Dutch's background includes CEO
positions at Paylease and OrderMyGear and extends to many board
roles at SaaS companies like Clubspeed, Raken, and Trakref.
"Dutch's track record of energizing and strategically leading
high growth software companies align perfectly with Red Oak's trajectory. We are pleased to
welcome Dave to the team," said Romir
Bosu, who serves as the Executive Chairman of the board and
has worked closely with Dutch at multiple companies over the past
decade.
"Dave's vast experience in financial technology, SaaS and
compliance will be invaluable as Red
Oak continues to build on its momentum and capitalize on the
compliance market opportunity," said David
Farsai, Partner at Mainsail Partners, the growth equity firm
that invested $51 million into
Red Oak in June 2023.
Founded in 2010, Red Oak has
distinguished itself by providing intelligent software solutions to
global financial services and insurance industries, underpinned by
a customer-centric culture. Co-founder, Stephen Pope, who was serving in the role of CEO
prior to Dutch joining, says the company has been steadfast in its
commitment to customers, consistently refining its product roadmap
in response to customer needs and feedback, while aiming to stay
ahead of innovation trends.
"With Dave Dutch at the helm, I am confident we will be able to
deliver an even more powerful suite of compliance products to our
valued customers. His industry expertise, his reputation as a
fantastic and inspirational leader and his demonstrated commitment
to thoughtful growth all strongly align with our core values," says
Pope. Pope will continue to be involved in strategic
initiatives and serving as a board director.
Since receiving a $51 million
investment from Mainsail Partners in June
2023, Red Oak has
experienced meaningful scale and recently completed the strategic
acquisition of SiteQuest, a comprehensive intelligent compliance
monitoring and website surveillance software firm, which
significantly expanded the breadth of Red
Oak's product offerings. In addition, Red Oak has scaled its product and engineering
teams and has launched a stack of innovative AI-powered ancillary
compliance products, leading to the company being named to the AI
FINTECH 100 list in 2023.
About Red Oak
Red Oak
Compliance Solutions is a global advertising review software in the
financial services and insurance industries, serving over 1,800
firms globally, ranging from single-state advisors to over half of
the top 20 asset managers. Their flagship advertising compliance
review software offers quick implementation timelines and agile
technology that is 100% Books and Records/WORM compliant.
Clients of Red Oak typically
see 35% faster approvals and 70% fewer touches, with many
experiencing even better results. Overall, Red Oak allows firms to minimize risk, reduce
costs, and increase compliance review process effectiveness and
efficiencies. To learn more about Red Oak Compliance Solutions,
visit www.redoakcompliance.com or follow them
on LinkedIn.
About Mainsail Partners
Mainsail Partners is a growth
equity firm that partners with founders of bootstrapped software
companies to help them realize their potential. For more than 20
years, Mainsail has been helping management teams navigate the
challenges and opportunities that come with rapidly scaling a
software company. The firm includes women and men who are former
software company operators who have seen these challenges
first-hand. Mainsail offers assistance across various functional
areas, including talent, finance, customer success, sales and
marketing, product management, and R&D. With offices in
Austin and San Francisco, the firm has raised over
$2.2 billion in committed capital and
invested in more than seventy companies. For more information,
visit www.mainsailpartners.com or follow the firm
on LinkedIn.
CONTACT: Amy Watson,
awatson@redoakcompliance.com
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SOURCE Red Oak Compliance Solutions