Sweeney Leaves Bain Capital Ventures for SevOne

SevOne said Thursday that it named JackSweeney its CEO, effective immediately. Sweeney most recently served as a Managing Director for Bain Capital Ventures. Wilmington, Del.-based SevOne, a Bain Capital Ventures portfolio company, provides IT performance management software.

PRESS RELEASE

Wilmington, DE – July 25, 2013 – SevOne, leader in IT performance management software, today announced that it has appointed JackSweeney as CEO, effective immediately.

Sweeney most recently served as a Managing Director for Bain Capital Ventures. His career includes a variety of leadership roles at leading technology companies. He has served at the helm of six companies as CEO, creating more than $1.3 billion in value. He has also provided strategic guidance to numerous companies that address the next generation of technology, including infrastructure software, data security and networking.

“SevOne has an incredible growth rate—75 percent year-over-year growth—and has captured some of the largest brand names in the world as clients,” said Sweeney.  “Global brands in financial services, technology, healthcare, telecom and service providers trust SevOne’s network and IT performance management solution and know it delivers tremendous value. I am very excited about being part of the momentum and continued success of SevOne.”

Sweeney continued, “Our vision is to remove all scalability limits to collecting and monitoring the world’s performance data. The SevOne Cluster™ architecture is the only product that scales to handle real-time big data analytics for network and system performance in order toassess the health of our clients’ infrastructure. Now we will look to make a push to mid-market business where we believe there is opportunity for significant revenue growth with companies that value the speed at which SevOne provides information and the simplicity of administering an appliance-basedsolution.”

Senior Vice President of Operations and Co-Founder Tanya Bakalov added, “Our former CEO Michael Phelan took us from a small business to the company we are today. We’re very appreciative of how he’s grown SevOne and he will continue to serve in an advisory role to the CEO. We now have the opportunity to be the next great technology company, and we believe Jack Sweeney is the right choice to lead us along that path.”

“We are thrilled to have Jack Sweeney join SevOne as CEO in this exciting phase of advancement for our company,” said Chief Technology Officer and Co-Founder Vess Bakalov. “We recognize Jack’s strength in guiding management direction and understanding and meeting customer needs. He also brings extensive experience in infrastructure software and the network side of business. His background as a leader in our industry makes him an excellent choice for this position.”

About SevOne Inc.
SevOne provides the world’s fastest, most scalable IT monitoring and reporting platform, delivered as ‘all-in-one’ appliances, that help you detect and avoid performance events before they impact your business. SevOne invented a proprietary, next-generation distributed technology, called the SevOne Cluster™, that combines the cutting edge principles behind peer-to-peer sharing and big data analytics to scale smoothly so that millions of network elements, across all monitoring technologies, can be monitored and provide a single view to the user. Hundreds of customers, including the top cable companies, wireless network and managed service providers, and top financial services institutions rely on SevOne to run their businesses. Visit www.sevone.com.