CONCERTIV WELCOMES NEW CEO AND SENIOR LEADERS TO MEET GROWING DEMAND

NEW YORK , July 31, 2024 /PRNewswire/ -- Concertiv, the leading provider of procurement for professional services firms, is thrilled to mark a significant milestone by appointing Shane Torchiana as its Chief Executive Officer and welcoming him to the Concertiv Board of Directors.

With the support of former CEO Priya Iyer, Concertiv has experienced remarkable growth, doubling its client base and revenues, and greatly expanding its product offerings since 2021. With Torchiana at the helm and additional key strategic hires, the company is poised to further accelerate this growth. Enhanced by significant investment in its Concertiv360 platform, Concertiv continues to build on its successes.

"I am both humbled and excited to step into the role of CEO at Concertiv," Shane remarked. "I believe the company, with its innovative platform, deep industry expertise, high retention rates, and blue-chip client roster, presents a rare opportunity to rapidly scale a business that is exceedingly well positioned to add value for its clients."

For nearly two decades, Torchiana has excelled in advising and scaling fast growing companies. As COO and later CEO of Bird, Shane grew operations from a few dozen to over 400 cities and led its public offering and subsequent nine-figure sale. He has deep experience in markets and investing, both as a Partner at BCG and as a global macro investor at Morgan Stanley. At Concertiv, he is poised to leverage his experience to build out the team and lead the company through its next phase of growth.

ENTRUSTING THE FUTURE

Since joining in 2021, Iyer built Concertiv into an industry leader. Together with the Board, she decided that now was the right time to pass the torch to a new leader.

"Priya's experience, and leadership have guided Concertiv to new heights, and we thank her for her tireless work ethic and leadership," said Kipp Nelson, President of Long Arc Capital and Chairman of the Concertiv Board of Directors. "When we started the search for Priya's replacement, we were looking for someone with a proven track record of building high-growth, technology-driven services businesses while also having experience working with leading asset managers and banks. Shane's experiences at Boston Consulting Group and Bird leave him well positioned to accelerate Concertiv's continued growth."

DELIVERING MARKET EXPERTISE

To enhance the Company's ability to deliver expert solutions tailored to the evolving needs of its clients, Concertiv has also recently built out a deep bench of practice area experts. We're excited to announce that we now have the most experienced senior team in our industry:

• Will Lau, Head of Technology, former Managing Director at Credit Suisse
• Tom Boran, Head of Data, former Head of Market Data Services & Global Lead at Mizuho Americas Services, previously the Global Head of Market Data Services at Jefferies
• Patrick Cain, Head of Insurance, former VP at CAC Specialty
• Jennifer Dzialo, Head of Travel, former SVP of Partner Relations at Navigatr
• Jay Fox, Head of Customer Success, former Global Head of Customer Success at TRG Screen

OPTIMIZING YOUR SPEND WITH CONCERTIV360

Concertiv's proprietary technology platform, Concertiv360, streamlines vendor and cost management, improving control and visibility. The platform features a comprehensive suite of tools for managing contracts, invoices, vendors, compliance, and user feedback, integrated with spend analytics and benchmarking for better informed decision-making. It simplifies client processes, boosts operational efficiency, and ensures compliance, enabling firms to de-risk procurement and achieve cost efficiencies.

ABOUT CONCERTIV

Founded to serve the needs of six preeminent boutique investment banks, Concertiv has grown into the leading provider of procurement for professional services firms, including leading firms such as Coller Capital, General Atlantic, and The Riverside Company. We've spent the last decade building a world-class procurement solution for these firms. Today, our platform delivers clients 3x or greater ROI while improving their experience and freeing them up to focus on their core business.

ABOUT LONG ARC CAPITAL, LP

Long Arc Capital is a private equity firm based in New York City dedicated to building and scaling breakthrough technology and technology-enabled businesses. Founded in 2016, Long Arc has six Partners collectively with over 150 years of investing and operating experience. The firm has a philosophy of "active ownership," partnering with entrepreneurs and management teams by bringing to bear a comprehensive suite of resources that advance the human capital, strategic, product development, technology, and financial strengths of its portfolio companies, with the goal of successfully driving their profitable growth.

Media Contact:
Sarah Tremallo
[email protected]
908 967 0381  

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SOURCE Concertiv