LX Ventures’ Copper.io hires new COO

Copper.io, a portfolio company of LX Ventures, has hired Bernd Petak as its chief operating officer. The appointment is effective immediately. Petak is a former strategy and operations consulting partner at Deloitte. Based in Vancouver, British Columbia, Copper.io is a provider of tools for developers of web and mobile apps.

PRESS RELEASE

VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 1, 2014) – LX Ventures Inc. (TSX VENTURE:LXV) (“LXV” or the “Company”) is pleased to announce that Bernd Petak has assumed the role of COO of LXV portfolio company Copper.io effective immediately. Bernd Petak is a Vancouver, B.C., based entrepreneur, mentor, technology executive and investment professional. Bernd currently serves as President of the Company, and has resigned this role in order to focus his efforts on the development of Copper.io.
As a former strategy and operations consulting partner at Deloitte, Bernd’s clients included global brand name technology-driven companies such as Vodafone, 3Com and AT&T. Bernd is also a founding and exited entrepreneur in the computer gaming space, multiple-time CEO and CFO, as well as a senior executive in a variety of technology enterprises. Bernd operated as an M&A professional representing major venture capital and strategic acquirers. He actively contributes to the startup community as an advisor and mentor to several early-stage technology ventures both directly, and via accelerators and incubators such as Vancouver’s GrowLab and Launch Academy.
“LX Ventures is moving from acquisition mode to a greater focus on the success of our individual portfolio companies,” said Mike Edwards, CEO of LX Ventures. “Bernd is an experienced technology company operator and his assistance is highly beneficial as Copper grows quickly from its current base of 21 team members.”
Bernd Petak, COO of Copper.io, said, “Part of our promise to the Copper team at the time of our acquisition was to quickly enhance its management team with the capacity required to grow quickly, while continuing to provide the amazing service that Copper customers have grown to expect. I’m extremely happy to join Ed Byrne and the Copper team and to be able to focus on the opportunity that the incredible growth the cloud computing space affords.”
Ed Byrne, CEO of Copper.io added, “We’ve grown Copper.io over the past year to include a great stack of developer tools and we’re working with over 35,000 users and well over 1,000 paying companies. Our team has grown too and I’m delighted that Bernd is joining our leadership to help us manage growth and ensure we continue to deliver great customer support.”
About LX Ventures
LX Ventures identifies high potential technology companies at revenue and brings together the right mix of talent, experience and resources to rapidly accelerate each company’s growth. Our value-added approach enables our portfolio companies Mobio, Strutta, Sosido and Copper.io to focus on scaling, driving revenue and expanding market share. LX is publicly traded company on the TSX-V, headquartered in Vancouver, BC. To learn more, visit http://www.lxventures.com.
About Copper.io
Copper.io provides a suite of tools that enables the developers of today’s most in-demand web and mobile applications to serve their users around the world faster, easier and with less dependency on the proprietary tools of major cloud providers such as Amazon, Google or Rackspace. Copper.io makes deploying applications more economical by constantly monitoring infrastructure costs across multiple providers. Copper.io tools also make customer applications more reliable by monitoring key features around the clock and notifying customers of any outages before their users are affected. Headquartered in Vancouver, BC, the company’s customers include Salesforce, Glassdoor and McCann WorldGroup. For more information, visit Copper.io.

 

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