Rapid7 Expands Executive Team with Appointment of Tech Industry Veterans as President/COO and CFO
Mike Tuchen and Timothy O’Toole Will Drive Company’s Next Phase of Growth as It Receives $7 Million in Expansion Capital
Boston - September 17, 2008 - Rapid7 LLC, the leading provider of Unified Vulnerability Management solutions, today announced the appointment of two technology industry veterans to key roles on its senior management team. Mike Tuchen, a former Microsoft executive and seasoned marketing and product strategist, joins the company as president and chief operating officer. Timothy O’Toole, a certified public accountant with extensive financial operations experience at several companies in Massachusetts’ technology corridor, joins as chief financial officer.
This announcement accompanies the news that Rapid7 has secured $7 million in funding from Bain Capital Ventures. In addition to growing its management team, Rapid7 will use the funds to broaden global sales channels, expand marketing, and further advance NeXpose, its vulnerability scanning system providing comprehensive, high performance coverage of networks, databases and Web applications.
Mr. Tuchen will lead Rapid7 in its next phase of growth as the company expands its marketing, sales channels and product development. Prior to joining the company, he was the general manager of Microsoft’s SQL Server Marketing team, with which he led worldwide strategic planning and revenue-generating efforts, including product marketing, field programs, product planning and partner strategy. Mr. Tuchen has had two stints at Microsoft totaling nine years and in an expanding range of product development and marketing roles. Download the complete biography for Mike Tuchen.
Mr. O’Toole will manage all aspects of finance and human resources. Before joining Rapid7, he was the chief financial officer at Mzinga, where he raised funding for the acquisition of Prospero Technologies, LLC. He was also the vice president of finance at BladeLogic during the company’s initial public offering and later acquisition by BMC Software. Download the complete biography for Tim O’Toole.
"To further leverage our strong growth and maintain our customer satisfaction, we are expanding our executive team with significant management experience," said Alan Matthews, CEO of Rapid7 LLC. "Mike and Tim bring leadership in marketing, finance and operations to Rapid7. They are excited about the huge opportunities for growth as our advanced technology gains greater market share."
"It's exciting to join an explosive growth company that is on the verge of expanding its global presence, adding new talent to its teams and accelerating innovation of its product," said Tuchen. "Under my leadership, we will build on our extraordinary customer success and look to bring it to a wider range of geographical markets and industries by delivering a solution that ensures protection from the severest of threats in every area of the IT system."
"Rapid7 has demonstrated that advanced technologies can beat well-funded but less capable solutions," said O’Toole. "As Bain Capital has determined, the company has a robust product and growth strategy. Being part of a team that creates better value and productivity for the customer makes Rapid7 an obvious choice for me."
About Rapid7
Rapid7 is a leader in vulnerability management and compliance, delivering a single unified solution across an organization’s entire infrastructure. Rapid7 NeXpose helps security professionals to reduce their attack surface by providing actionable insights into the real threats from vulnerabilities across their entire IT infrastructure. Rapid7 NeXpose is the only solution that provides in-depth coverage of vital Web and database systems in addition to networked devices, servers, and operating systems. The NeXpose A.I. and Reporting Engines synthesize large quantities of raw data to provide direct insight into the vulnerabilities that represent the most risk to the business. From this insight the product delivers a set of prioritized remediation recommendations that help security professionals get protection fast. Organizations, including Black & Decker, Trader Joe’s, Florida State University, the New York Times, and the City of Philadelphia, continually rely on Rapid7 products and services to mitigate risk and remain compliant.