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Versa Networks appoints its first CFO

Thu 7 Oct 2021

Secure access service edge (SASE) software company Versa Networks has appointed Lalit Kumar as its very first CFO, the company announced today.

He will be responsible for developing Versa’s financial infrastructure, teams, and processes, with an aim to increase the company’s growth. Kumar is a seasoned SaaS growth finance leader with more than 20 years of experience leading the growth of companies.

He joins Versa from Medallia, where he spent three years leading a successful IPO and robust growth — doubling revenue during his tenure. Before Medallia, Kumar led NetSuite through transformative growth with annual reoccurring revenue doubling to over $1 billion, and ultimately to a successful buyout by Oracle in one of the largest enterprise software deals at that time.

“Great people build world-class products and serve illustrious companies,” says incoming CFO Lalit Kumar. 

“The opportunity to work with the most talented minds and serve the most demanding customers is why I am so excited to be the first CFO at Versa Networks. 

“I look forward to building the finance organization and helping take Versa to the next level.”

Early in his career, Kumar spent nearly ten years at Dell, leading the company through a period of rapid growth and significant IT landscape transformation. He holds an MBA from The University of Texas at Austin, and a Bachelor of Engineering degree from The Indian Institute of Technology, Roorkee.

“Lalit brings proven leadership in driving growth, successful exits, and building processes that Versa will leverage to continue on our aggressive growth trajectory,” says Versa Networks chief executive officer Kelly Ahuja.

“We look forward to benefiting from his proven expertise in scaling startups as we continue our rapid growth and global expansion to meet rising worldwide demand for Versa SASE.”

Versa Networks offers Versa SASE as a SaaS, delivering tightly integrated services via the cloud, on-premises, or as a blended combination of both via Versa Operating System (VOS) with a Single-Pass Parallel Processing architecture and managed through a single pane of glass. 

News of Kumar’s appointment follows the company’s announcement last month that it had received the highest product score for the Large Global WAN Use Case category in Gartner’s Critical Capabilities for WAN Edge Infrastructure report.

The company also received the second-highest product score for the Security-Sensitive WAN Use Case and the second-highest product scores for Small Branch WAN Use Cases, Cloud-First WAN Use Cases, and Remote Worker Use Cases.

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