Former Top Ranked SaaS Equity Analyst and Software Company Executive Assumes New 8x8 Strategic Financial Planning Role
SAN JOSE, Calif.--(BUSINESS WIRE)--Jul. 16, 2014-- 8x8, Inc. (NASDAQ:EGHT), a provider of cloud-based unified communications, contact center and collaboration solutions, today announced that Raghavan (Ragh) Sarathy has been appointed to the newly created role of Vice President of Finance, effective July 14, 2014. Mr. Sarathy most recently served as vice president/senior equity analyst of enterprise software at Dougherty & Co. LLC and brings over 20 years of experience in SaaS and enterprise software markets to 8x8.
In this new 8x8 executive role reporting to CFO Dan Weirich, Mr. Sarathy will contribute his deep financial knowledge of SaaS business models and hands-on operational expertise in software based organizations to the company's strategic growth initiatives in the Unified Communications as a Service (UCaaS) industry.
“Ragh will be a tremendous asset to 8x8's senior management team as the company continues to set the standard in the mid-market with the industry's most secure and reliable cloud-based telephony, UC and contact center offering,“ said 8x8 CEO Vik Verma. “His expertise analyzing the financial and operational performance of dozens of successful SaaS companies alongside real world business experience are the ideal combination to position the company for continued success and we are thrilled to welcome him to the 8x8 team.”
“As one of the top names in my equity research coverage universe, 8x8 has impressed me year after year with its innovative technology, consistently solid growth, strong fiscal management and ability to successfully execute on its strategic goals, most notably its move upmarket,” said Ragh. “Mid-market and distributed enterprise customers are rapidly transitioning to cloud-based communications services and 8x8 has all of the ingredients needed to capture the lion's share of this market segment. I am very pleased to become a part of the senior management team and look forward to contributing to the company's future expansion and growth in the U.S. and abroad.”
Mr. Sarathy's career encompasses 10 years of equity research analysis and 12 years of software development, product management, and marketing experience. As vice president, senior research analyst within the Equity Capital Markets division at Dougherty & Company, Mr. Sarathy published research on 11 software companies and was ranked the number one analyst in the software sector by The Wall Street Journal's “Best on the Street” Analysts Survey, based on the performance of his stock recommendations. Before Dougherty & Company, he was senior equity analyst/vice president at Ferris Baker Watts where he built the firm's SaaS coverage from the ground up and covered 10 software companies. Prior to this, Mr. Sarathy held a variety of sales, marketing, product management and engineering roles with Oracle Corp. and several Silicon Valley software start-ups.
Mr. Sarathy earned a Master's of Business Administration Degree with honors from the Leavey School of Business at Santa Clara University, and a Master's of Science Degree in Computer Science from University of Alabama, Tuscaloosa.
About 8x8, Inc.
8x8, Inc. (NASDAQ:EGHT) is the trusted provider of secure and reliable cloud-based unified communications and virtual contact center solutions to more than 37,000 small, midsize and distributed enterprise organizations operating in over 40 countries across six continents. 8x8's out-of-the-box cloud solutions replace traditional on-premise PBX hardware and software-based systems with a flexible and scalable Software as a Service (SaaS) alternative, encompassing cloud business phone service, cloud contact center solutions, and web conferencing. For additional information, visit www.8x8.com, or www.8x8.com/UK or connect with 8x8 on Google+, Facebook, LinkedIn and Twitter.
Joan Citelli, 408-654-0970