Fexa Announces Kurt Smith as New CEO
Fexa Welcomes New CEO to Take the Company into the Future of Facilities Software Solutions.
Fexa, a SaaS solution for facility maintenance departments and service providers looking to improve efficiency and cost effectiveness of their operations, announced today that Kurt Smith has been appointed as chief executive officer (CEO). Smith transitions into the role formerly held by CEO and company founder, Marc Balzamo, who has led Fexa since its inception in 2011. Balzamo will continue with Fexa both on the board and as the chief technology product officer (CTPO) where he will focus on critical product innovations to launch Fexa into the future and ensure the solutions meet the needs of customers for many years to come.
Prior to joining Fexa, Smith worked for several years in general management as the chief product officer for FastSpring. Prior to FastSpring, he served as an operating principal at Accel-KKR Consulting Group and led engagement teams for McKinsey & Company. Smith was awarded his MBA from the Wharton School at the University of Pennsylvania in strategic management.
“I’m very excited to be joining Fexa at this critical time in the company’s development,” said Smith. “Fexa stands at the inflection point to disrupt an industry served by legacy incumbents that aren’t innovating at today’s speed of business and haven’t been able to connect and optimize the relationships between operators and providers. Fexa was purpose-built to respond to these challenges and provide the agility and product innovations that make everyone’s job easier, smarter, more efficient and more cost effective.”
Fexa has been growing due to continued expansion of its global customer base, along with a $40 million investment in July from Mainsail Partners, a growth equity firm that invests in bootstrapped software companies. The addition of a new CEO is the next natural step as new leadership continues to guide and support the company in the next stages of growth and evolution.
“When I approached our board to recommend this transition, Kurt’s experience in scaling software businesses is exactly what I had in mind for my successor, and what Fexa needs at this time,” said Balzamo. “His vision and expertise will take us to the next level and elevate our product and service offerings to expanded markets and partnerships. Kurt and I will be working closely together to ensure a smooth transition of responsibilities, and I am excited to dedicate myself to continued product innovation in my new role as CTPO. Of course, I will always remain available to clients as I have developed many close relationships with them over the years.”
Smith will lead Fexa’s growth and expansion plans in 2023 which include exciting new product developments, more robust support for clients, and the acquisition of several key accounts that will continue to partner with Fexa to evolve solutions to future-proof all areas of facilities management including automating customized workflows for peak efficiency; budget, pricing and billing requirements for maximum cost savings; and predictive reporting and analytics for asset and service compliance.