RESEARCH TRIANGLE PARK – Jaggaer, formerly known as SciQuest, has a new chief executive officer and has added a chief operations officer with the former CEO remaining onboard as an advisor, the spend management technology firm says.
Jim Bureau joined Jaggaer last year and spearheaded customer sales as well as global operations before coming CEO, replacing Robert Bonavito. He has been CEO since 2016.
Promoted to the COO spot is Vic Chynoweth.
“Since joining JAGGAER, Jim has played a vital role in building a high-quality sales and marketing organization and formulating a company culture that supports our current and future goals. During the next several months, Jim, Vic and I will be working together with the rest of the leadership to team, to redefine our vision and strategy to capitalize on the exciting opportunities ahead,” said Euan Menzies, Jagger’s board chair.
A Jaggaer graphic explains its spend management technology process. Jaggaer graphic)
“Rob Bonavito has led the expansion of Jaggaer over the past three years and he will continue to be available to the Board as an advisor through the end of 2019. On behalf of the Board and the entire Jaggaer team, I would like to welcome Jim as CEO and thank Rob for his many contributions to the company.”
SciQuest, an eProcurement spend solutions company, relaunched as Jaggaer, producers of a comprehensive source to pay (S2P) solutions suite, in 2017.
Jaggaer is a derivation of the German word for hunter, and reflects the company’s brand promise of delivering comprehensive, focused spend solutions for a broad range of businesses. This not the first sea-change for SciQuest, which has gone from private to public and back to private company over the years as well as transitions to new business models.
Jaggaer says revenue has tripled over the last three years.
Earlier this year, Cinven, a private equity firm, invested in Jaggaer and became the majority owner.
