Dive Brief:
- Lynx Software Technologies’ newly appointed CFO Amanda Blum said in an interview that the company will look to scale the software solutions provider both organically and through strategic initiatives and acquisitions.
- The move to take the financial helm of the San Jose, Calif.- based company marks Blum’s first CFO role and comes after Lynx received a strategic investment from private equity firm OceanSound Partners back in June.
- “I have inherited a great, lean, and agile finance team. It is a tightly-run, extremely hard-working ship. In this next chapter at Lynx, I would like to provide opportunities for the existing team to grow, as well as hire to support the business as it scales,” said Blum on her future plans for the financial team of the company in an interview.
Dive Insight:
Blum took the Lynx CFO seat on Aug. 31. She was previously corporate controller at Green Hills Software, a provider of embedded safety and security solutions. Prior to Green Hills, Blum was at Sientra, Inc. for four years through 2019 where she served multiple manager roles as well as serving as director of financial reporting & tax and assistant corporate controller, according to her Linkedin profile.
Blum plans to leverage her experience in financial planning and analysis, accounting, and mergers and acquisitions within both private and public company settings, along with her prior experience in the embedded software and security industry to help accelerate growth at Lynx.
As for the future of the software solutions company, Blum said that Lynx embodies a “growth mindset.” Specifically, Blum plans to focus on scalability.
Back in June, Lynx received a strategic investment from affiliates of private equity firm OceanSound Partners LP, which typically invests in technology and technology-enabled services companies serving government and enterprise end markets.
“The financial stability provided by our backing from OceanSound Partners enables us to think more strategically and put the right tools and processes in place. For example, we are focused on building a data-driven operating model at Lynx; that will give us real-time insights to make more informed business decisions,” said Blum.
The company also has plans to further its growth both organically and through more strategic initiatives and acquisitions are not off the table either.
“That is pretty common for small companies who are focused on cash flow and profitability. For this new phase of the company’s evolution, automation is going to be key in enabling my financial team to support the rest of the organization in achieving our top- and bottom-line growth aspirations,” she said.
In terms of their industry at large, Blum said that digital transformation has been an important focuse for almost every company. Lynx focuses on aerospace and defense and investment in this particular sector has been accelerating around the world.
“We are seeing growth in new areas such as Cloud, DevSecOps, AI/ML, autonomous systems, digital twin, quantum computing, and 5G. As electronics shift from black boxes to connected systems of systems,” said Blum. This new reality has created an industry that needs to keep people safe and secure, from cyber attacks especially, she said.
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September 13, 2022 at 04:10AM
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New Lynx CFO plans for company growth - CFO Dive
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