Case Study: BakBone Software, Inc.
Founded by three of Corrao Group's managing and senior partners, BakBone is an international storage management software company that develops and globally distributes high-performance storage management solutions to open systems markets.
Founded in March 2000, BakBone Software's family of NetVault products provides a robust data protection and recovery solution to meet the challenges of today's 24x7 high availability, business critical computing infrastructures, and are distributed through a global network of OEMs, system integrators and VARs. BakBone's corporate headquarters is located in San Diego, California with offices throughout North America, Europe and Asia. Its stock is traded over the counter in the United States, and is listed on the Toronto Stock Exchange.
BakBone's success is notable in that it launched during a period of significant competition for technical innovation in the storage management space, and has continued to thrive and be recognized as a leading provider of data protection technology to the Fortune 500/Global 2000 for the last nine years.
Key Responsibilities
- Member of the BOD, Executive and Operating committees of BakBone Software, Inc.
- Finance & Legal
- Day-to-day operational and financial management of the business.
- Manage key professional service relationships to include banking, accounting, legal and insurance.
- Provide acquisition analysis identifying intrinsic value and/or risk of acquiring target companies.
- Develop short and long-term strategic plans and financial goals.
- Accounting, Financial Analysis, Corporate Treasury, Cash Management, Investments, Operations, Human Resources, Procurement, Payroll, Facilities, and Order Administration staffs of 25.
- Operations & Support
- Operations, Human Resources, Procurement, Payroll, Facilities, and ERP/Order Administration
- Corporate Communication / PR
- Development and implementation of multi-national corporate communications strategy, covering corporate introduction to financial and industry influencers
- Generated more than 250 unique PR and media placements during first 12 months after launch/IPO
- Business Development
- Establish global Business Development related to Strategic Partnerships and OEM Sales
- Create Strategic Alliance and cooperative business and technical relationships with leading Storage, Networking, and related hardware providers
- Marketing
- Development and Implementation of Corporate Branding, Sales Collateral, and Go-to-Market launch plans and strategies
- Tradeshow management and industry event planning
- Create Sales Channel Partner Training, Promotions and Co-op/MDF programs
Key Achievements
- Implemented JD Edwards Oneworld based accounting system and rolled out the company wide budgeting system.
- Negotiated and closed a $9M technology-based IP asset acquisition to acquire a near-line open systems backup/restore software business. Conducted post acquisition, global re-organization and consolidation.
- Global restructured finance and accounting functions in five locations to centralize control and production of financials in key central location, reducing headcount and improving both quality and response times,
- Developed an international “Intellectual Property Holding Company” structure to achieve a company-wide tax shifting strategy utilized to reduce the company’s global effective tax rates.
- Co-Author of TSE/OSC prospectus filing successfully utilized in IPO and two subsequent rounds of equity financing for $25M and $10M, respectively.
- Co-Author of SEC 20-F filing successfully utilized to establish foreign registration and dual reporting under U.S. GAAP requirements, positioning the company for a U.S. capital market listing.
- NetVault was listed on key industry analyst "Magic Quadrant" in first year, helping to positively influence sales efforts.
- Company and product received worldwide media coverage in support of sales efforts, including several favorable product reviews.
- Established North American and EMEA channel sales infrastructure and channel partners
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