Boston, MA and Portsmouth, NH, June 15, 2023 – Loftware, the global leader in Enterprise Labeling and Artwork Management solutions, today announced that the company’s Board of Directors has named Jim Bureau as President and Chief Executive Officer. With over 20 years of proven leadership experience, Jim brings vast expertise in leading technology companies in accelerating cloud adoption and in building and growing recurring revenue.
“Loftware solutions are mission critical and will continue to grow in importance as traceability and compliance become even more crucial to the supply chain ecosystem. As the industry grows and changes, we knew it would be important that our new CEO help the company continue to innovate and deliver best-in-class solutions that meet the market’s evolving needs,” stated Park Durrett, Managing Director of Accel-KKR, a Loftware investor. “We felt very strongly that Jim, with his impressive track record of setting and exceeding high professional and personal standards, would be the right person to help lead Loftware in the next stage of its journey.”
“As we welcome Jim to Loftware, we also want to express our appreciation for outgoing CEO, Bob O’Connor. Bob has played a key role in Loftware’s success throughout the last decade, having led the company through substantial growth, including international expansion into Europe and the Asia-Pacific region,” stated David Belluck, General Partner for Riverside Partners, Loftware’s equal investment partner. “We are very pleased that he will be staying on as a trusted advisor and will continue to be part of the company’s future.”
Most recently Jim served as CEO at JAGGAER where he played a pivotal role in the company's growth. Under his leadership, recurring revenue increased 55% as he transitioned the company to a SaaS model. He also transformed the go-to-market messaging and helped the company shift from spend management to Autonomous Commerce, resulting in a remarkable 45% improvement in partner-sourced revenue. Additionally, Jim served as the Senior Vice President of North America at Verint Systems/KANA Software. Prior to that, he served as Vice President of Sales for Pegasystems and held leadership roles at Shared Health, Oracle, and 3M.
“Loftware is in a class of its own in the Enterprise Labeling and Artwork Management space. Over the past years the company has solidified its position as a cloud-based global leader with deep expertise across a broad range of sectors including regulated industries,” stated Jim Bureau, Loftware’s new President and CEO. “I am truly excited about my role in leading the talented team of professionals at Loftware. Stepping in it’s clear that we are well positioned for growth. We will continue to expand the market and provide best-of-breed solutions and services for our customers and partners as we accelerate our global growth plans.”
Retiring from the role, Loftware’s prior President and CEO, Robert O’Connor Jr., will be joining Loftware’s Board of Directors as a senior advisor. O’Connor, who joined Loftware in 2010, helped establish the company as the global market leader, to oversee the development of next-generation cloud labeling solutions and to expand into the Artwork Management market. He also transformed the industry with the combination of NiceLabel and acquisitions of Gap Systems and PRISYM ID.
As we welcome Jim to Loftware, we also want to express our appreciation for outgoing CEO, Bob O’Connor. Bob has played a key role in Loftware’s success throughout the last decade, having led the company through substantial growth, including international expansion into Europe and the Asia-Pacific region. We are very pleased that he will be staying on as a trusted advisor and will continue to be part of the company’s future. David Belluck General Partner
About Loftware
Loftware is the world’s largest cloud-based Enterprise Labeling and Artwork Management provider, offering an end-to-end labeling solution platform for companies of all sizes. Maintaining a global presence with offices in the US, UK, Germany, Slovenia, China, and Singapore, Loftware boasts over 35 years of expertise in solving labeling challenges. We help companies improve accuracy, traceability, and compliance while improving the quality, speed, and efficiency of their labeling. As the leading global provider of Enterprise Labeling and Artwork Management, along with Clinical Trials Labeling and Content Management, Loftware enables supply chain agility, supports evolving regulations, and optimizes business operations for a wide range of industries. These include automotive, chemicals, consumer products, electronics, food & beverage, manufacturing, medical device, pharmaceuticals, retail, and apparel. For more information, visit www.loftware.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm focuses on growth-oriented companies in the technology and healthcare industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams, and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit www.riversidepartners.com.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with over $18 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta and London. Visit accel-kkr.com to learn more.
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