Home / Tech News / LA-based Replicated adds former GitLab head of product as its chief product officer

LA-based Replicated adds former GitLab head of product as its chief product officer


LA-based Replicated adds former GitLab head of product as its chief product officer – TechCrunch

Replicated, the Los Angeles-based company pitching monitoring and management services for Kubernetes-based applications, has managed to bring on the former head of product of the $2.75 billion-valued programming giant, GitLab, as its new chief product officer. 

Mark Pundsack is joining the company as it moves to scale its business. At GitLab Pundsack saw the company grow from 70 employees to 1,300 as it scaled its business through its on-premise offerings.

Replicated is hoping to bring the same kind of on-premise services to a broad array of enterprise clients, according to company chief executive Grant Miller.

First introduced to Replicated while working with CircleCI but it was the company’s newfound traction since the launch of its kubernetes deployment management toolkit that caused him to take a second look.

“The momentum that Replicated has created with their latest offering is tremendous; really changing the trajectory of the company,” said Pundsack in a statement. “When I was able to get close to the product, team, and customers, I knew this was something that I wanted to be a part of. This company is in such a unique position to create value throughout the entire enterprise software ecosystem; this sort of reach is incredibly rare. The potential reminds me a lot of the early days of GitLab.”

It’s a huge coup for Replicated, according to Miller.

“Mark created the core product strategy at GitLab; transforming GitLab from a source control company to a complete DevOps platform, with incredible support for Kubernetes,” said Miller. “There really isn’t a better background for a product leader at Replicated; Mark has witnessed GitLab’s evolution from a traditional on-prem installation towards a Kubernetes-based installation and management experience. This is the same transition that many of our customers are going through and Mark has already done it with one of the best. I have so much confidence that his involvement with our product will lead to more success for our customers.”

Pundsack is the second new executive hire from Replicated in six months as the company looks to bring more muscle to its c-suite and expand its operations.

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do investors bidding up tech shares know that the rest of us don’t?”,”content”:{“rendered”:”

The biggest story to come out of the post-March stock market boom has been explosive growth in the value of technology shares. Software companies in particular have seen their fortunes recover; since March lows, public software companies’ valuations have more than doubled, according to one basket of SaaS and cloud stocks compiled by a Silicon Valley venture capital firm.n

Such gains are good news for startups of all sizes. For later-stage upstarts, software share appreciation helps provide a welcoming public market for exits. And, strong public valuations can help guide private dollars into related startups, keeping the capital flowing.n


n

The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, and now you can receive it in your inbox. Sign up for The Exchange newsletter, which drops every Friday starting July 24.n


n

For software-focused startup companies, especially those pursuing recurring revenue models like SaaS, it’s a surprisingly good time to be alive.n

""Indeed, after COVID-19 hit the United States, layoffs and rising software sales churn were key, worrying indicators coming out of startup-land. Since then, the data has turned around.n

As TechCrunch reported in June, startup layoffs have declined and software churn has recovered to the point that business and enterprise-focused SaaS companies are on the bounce.n

But instead of merely recovering to near pre-COVID levels, software stocks have continued to rise. Indeed, the Bessemer Cloud Index (EMCLOUD), which tracks SaaS firms, has set an array of all-time highs in recent weeks.n

There’s some logic to the rally. After speaking to venture capitalists over the past few weeks, notes from EQT Ventures‘ Alastair Mitchell, Sapphire’s Jai Das, and Shomik Ghosh from Boldstart Ventures paint the picture of a possibly accelerating digital transformation for some software companies, nudged forward by COVID-19 and its related impacts.n

The result of the trend may be that the total addressable market (TAM) for software itself is larger than previously anticipated. Larger TAM could mean bigger future sales for and more substantial future cash flows for some software companies. This argument helps explain part of the market’s present-day enthusiasm for public tech equities, and especially the shares of software companies.n

We won’t be able explain every point that Nasdaq has gained. But the TAM argument is worth understanding if we want to grok a good portion of the optimism that is helping drive tech valuations, both private and public.



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