MarkLogic Corp., which is backed by investors Sequoia Capital and Tenaya Capital, has named Steven Springsteel to the post of chief financial officer. Springsteel joins from U.S. Venture Partners, where he was an entrepreneur-in-residence. Previously Springsteel held president and chief executive positions at software companies including Chordiant Software, Verity, and Sagent Technology.
MarkLogic(R) Corporation, the company revolutionizing the way organizations leverage unstructured information, today announced that Steven Springsteel has joined the company as Chief Financial Officer. He has more than 25 years of experience in operational and financial management at software companies in Silicon Valley.
“We are pleased to have Steve join our executive team at a time of both tremendous growth as a company and increased interest in MarkLogic solutions for big data and unstructured information,” said Ken Bado, president and CEO, MarkLogic. “Steve brings valuable operational and public company experience that will undoubtedly be useful as MarkLogic’s growth continues to surpass expectations. I am excited to have his wealth of knowledge and experience as MarkLogic taps into new markets, both in the U.S. and internationally.”
Springsteel joins MarkLogic from the leading Silicon Valley based venture capital firm, U.S. Venture Partners, where he was an Entrepreneur-in-Residence. The program is designed for experienced executives, like Springsteel, who can spot early stage opportunities likely to provide high returns.
Prior to U.S. Venture Partners, Springsteel held president and CEO positions at other software firms including Chordiant Software, Verity, and Sagent Technology. As chairman, president, and CEO of Chordiant, he brought the company to profitability for the first time, more than doubled the company’s bookings to a record level of $200 million, and expanded into new international markets. Springsteel successfully defended Chordiant against a public hostile takeover attempt, and then later guided the sale of the company to Pegasystems for a significantly higher price.
“I am thrilled to have the opportunity to join the MarkLogic team at a time when the company is growing rapidly and preparing strategically for the road ahead,” said Springsteel. “MarkLogic products are a proven solution for organizations with big data and unstructured information challenges — both of which will fuel its growth going forward. I am excited to play a key role in the success of MarkLogic as we work toward our ambitious goal of continued and long-term growth.”
In 2008, Springsteel was awarded the prestigious Ernst and Young “Entrepreneur of the Year” award for Software in Northern California. Springsteel has a bachelor’s degree in business administration from Cleveland State University. He is currently on the board of directors for Zend Technologies and the board of trustees for California State Parks Foundation.
About MarkLogic Corporation
MarkLogic is revolutionizing the way organizations leverage Big Data. The company’s flagship product is a purpose-built database for unstructured information. Customers in industries including media, government and financial services use MarkLogic to develop and deploy information applications at a fraction of the time and cost as compared to conventional technologies such as relational databases and search engines.
MarkLogic is headquartered in Silicon Valley with field offices in Austin, Boston, Frankfurt, London, New York, and Washington DC. The company is privately held with investors Sequoia Capital and Tenaya Capital.