)
Newly listed construction tech business Felix (ASX: FLX) has announced the appointment of Aconex co-founder Rob Phillpot to its board, just ten days after the company's public debut.
Phillpot's appointment is his first public board membership since his position at tech giant Oracle - the company he sold Aconex to for $1.6 billion in 2017.
At the time, the sale was the largest tech acquisition in Australian history.
His appointment comes after he backed the software-as-a-service (SaaS) company's $12 million IPO, which listed on the ASX earlier this month with a market capitalisation of $47 million.
Phillpot said Brisbane-based Felix was at the "right growth point" in its journey for him to join the board.
"I am a big believer in construction tech and the ability to positively re-shape an industry," he said.
"Felix has a solid foundation, a good suite of clients, and a long path ahead of it. I'm excited about the product and looking forward to making a difference in the sector.
"I am looking forward to working closely with the Felix management team to do so".
Felix connects construction companies to a marketplace of vendors from which to source for projects and capital works.
The solution enables customers to manage supply chains and streamline vendor pre-qualification.
Felix completed an oversubscribed funding round in November 2020, supported by leading Australian institutional investors Perennial Value Management, Thorney Regal, Pendal, Endeavour and Rob Phillpot.
"Felix helps provide access to the right quality suppliers, with the right experience," Phillpot said.
"Its systems ask the right questions to ensure compliance giving peace of mind of contractors and minimising headaches for suppliers.
"All of this helps achieve the right match between a contractor and vendor, and ultimately, a successful project."
Felix Chairperson Michael Bushby said Phillpot's appointment to Felix was well aligned.
"We are thrilled that Mr Phillpot has joined the Felix Board," Bushby said.
"His entrepreneurial skills in driving innovation and efficiency in the construction software industry, and his passion for disruptive and game-changing tech, are well suited to Felix and the company's direction."
Shares in Felix are down 3.80 per cent to $0.38 per share at 12.22pm AEDT.
Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Enjoyed this article?
Don't miss out on the knowledge and insights to be gained from our daily news and features.
Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.
Support independent journalism and stay informed with stories that matter to you.
)
)
)
)
)
