Venzee Appoints Issa Nakhleh as Chief Financial Officer
Mr. Nakhleh joins Venzee from Tuangru, a SaaS company that manages a network infrastructure of complex organizations, including facilities, IT, virtual and cloud where he served as Chief Financial Officer since 2017. Previously, Mr. Nakhleh worked with companies such as Ultrasonix and UrtheCast, and has previously held the title of Chief Financial Officer at TIR Systems Ltd., which grew from $2M to $30M in annual revenues.
Peter Mackay, CEO of Venzee, commented, “We are very excited to have Issa join us as the CFO of Venzee. His extensive work in the field and dedication to developing impressive growth strategies has us confident in his abilities to go above and beyond the targets we have set for Venzee. We have major plans for the Company in 2018 and beyond and with our enterprise partner numbers continuing to grow, we are eager to see Venzee’s continued success under Issa’s role as CFO.”
Major highlights of Mr. Nakhleh’s career thus far include: achieving a senior financial position of a publicly listed company at age 26; leading both equity and debt financings at UrtheCast, totalling over $250 million; and managing the network infrastructure of complex organizations for Tuangru, as the company transitioned from being primarily a VAR to a SaaS company under his formulated growth strategy. Mr. Nakhleh holds an MBA from the Warwick Business School, listed as one of the top 25 business schools in the world.
Venzee is a SaaS company that launched in 2014 to help e-commerce vendors and retailers easily share product information in a US$23 trillion retail industry (source: Statista). Traditionally, this was done using spreadsheets which created a labor-intensive process that delayed products from reaching the marketplace. Venzee’s technology, leveraging artificial intelligence to streamline product information management, allows vendors and retailers to seamlessly share information, avoiding delays and getting products to market faster than ever. The Company graduated from notable startup accelerator program 500 Startups and is already powering some of the biggest brands in the world.
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This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the execution of the Company’s growth strategy. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s management’s discussion and analysis for the year ended December 31, 2017, which is available under the Company’s SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future.
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