NetSteps, a Pleasant Grove, Utah-based maker of business applications for real-time management of direct sales channel companies, hired Kevin Vitale as chief executive officer. He was Wall Data Inc.’s president and CEO. Gemini Investors LLC also made an unspecified investment in NetSteps. The Wellesley, Mass.-based shop typically invests $3 million to $8 million per transaction.
NetSteps, creator of world-class business applications for real-time management of direct sales channel companies, announces the addition of Kevin Vitale as CEO, and an investment by the private equity firm Gemini Investors. The company will use these key ingredients to enhance the technology and continue its growth by leveraging stronger marketing and brand awareness for their integrated direct sales and marketing management solutions.
NetSteps’ Web-based software platform offers eMarketing, eCommerce, commissions tracking and corporate brand content to help direct sales companies focus on their unique branding and growth strategy, accelerating achievement of their goals and bottom line performance.
“NetSteps has repeatedly proven itself, listed again on Inc. Magazine’s 2010 Fastest Growing Companies, spotlighting a three year growth rate of over 1900%,” said Kevin Vitale, newly named CEO of NetSteps. “I’m very excited for the opportunity to work with such a brilliant and committed team, serving a vast and growing market. My goal is clear: build on our core strengths to grow the business and brand by delivering market leading solutions and the highest levels of customer service. We are driven to strengthen our strategic relationship by helping our customers achieve their business objectives.”
Kevin Vitale brings to NetSteps over 30 years of diverse executive leadership experience in global technology markets. He previously served as President, CEO, and on the Board of Directors of Wall Data, Inc., a $140 million NASDAQ company with over 800 employees and 60 international facilities (acquired by NetManage). He has also served as CEO, President and Board member at Ejasent (acquired by Veritas) and Encanto Networks, both venture-backed companies, and has served multiple emerging companies as a board member or advisor on launch and growth strategies.
NetSteps founder and CTO Derek Maxfield suggested that, while company growth has remained steady and impressive, the investment and addition of Vitale will open new doors. “The vision incorporates our entire team and lays a solid foundation for NetSteps to expand. We now have the ability to fulfill and extend our commitment to empower the direct sales industry so that they may grow their businesses using our resources.”
Gemini Investments, a successful private equity firm focused on providing capital and strategic resources to established, middle-market businesses, shares Vitale’s vision about the opportunity for NetSteps. “We believe in NetSteps’ future and are very pleased to co-invest with Kevin Vitale in the company,” said David Millet, Managing Director of Gemini Investors, LLC. “We’ve known Kevin for many years and worked with him in other successful ventures, so we’re confident in the value he can bring the company as their new CEO.”
NetSteps, based in Pleasant Grove, Utah and founded in 2004, provides innovative technologies to the fast growing global direct sales industry. Their Web-based systems support customers that utilize a broad range of go-to-market strategies, commission structures, products, and international markets and currencies, and include Natura, Scentsy, Close To My Heart, Synergy, Zrii, and Rodan + Fields, LLC, among others. Founded on the principals of quality, integrity, and flexibility, NetSteps has made the Inc. 500 list for two consecutive years and is recognized internationally as an industry leader. For more information, visit www.netsteps.com.
About Gemini Investors:
Gemini Investors, an investment firm with offices in Wellesley, MA and San Antonio, TX, manages four private equity funds with total committed capital of $450 million. They are focused on shareholder liquidity, management buyouts, acquisition financing, and growth capital transactions with established companies led by experienced management teams. Gemini typically invests $3 – $8 million per transaction in either control or minority positions. Since 1993, we have invested in 75+ companies across the U.S. in numerous industry sectors, including business services, healthcare, education, waste and recycling, consumer services, manufacturing, distribution, and later stage technology. The U.S. Small Business Administration honored Gemini Investors as the 2009 Small Business Investment Company of the Year. Visit www.gemini-investors.com for more information.
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