SaaS platform ramps its growth phase to help global leaders in insurance, capital markets, and other sectors launch solutions faster, cut costs, and gain control over spreadsheets, including Excel
NEW YORK, October 18, 2022 – Coherent, a global no-code software-as-a-service (SaaS) platform quickly becoming the ubiquitous standard for transforming business logic from spreadsheets into enterprise-grade code, today announced new leadership for its Asia-Pacific (APAC) region, three new C-suite leadership hires, geographic expansion in locations across 15 U.S. states and Canada, and four new partnerships. Coherent also experienced its best performing financial quarter in the company’s history, which has been fuelled by the need to turn spreadsheets into a superpower.
Earlier this year, the company raised $75 million Series B led by Maverick Capital, including Maverick Ventures, with participation from Owl Rock, a Blue Owl division, GreatPoint Ventures, and existing investors Cathay Innovation and Franklin Templeton.
Joel Lim, who leads Coherent’s go-to-market strategy, will become CEO, Asia, and is joined by Chris Hansen in APAC. The other executive appointments include Robert Showers as Chief Revenue Officer – Capital Markets & Banking, Mukkul Dasgupta as Chief Product Officer, and Andrew Hoerner as Chief Marketing Officer. Additionally, Coherent continues to increase its US footprint with substantial presence across key hubs in California, Florida, New York, and Ontario, Canada.
Coherent Spark converts even the most complex business logic, including rules, calculations, and data, from any spreadsheet into enterprise-grade code, which can then connect to any application via an application programing interface (API). This enables business and IT teams to work together more efficiently to bring solutions and products to market, innovate offerings at a faster pace, reduce operating costs and risks, and gain control over spreadsheets. Spark enables spreadsheet to code conversion in minutes instead of the weeks and months it typically takes when done manually.
“Customers and partners worldwide continue to realize the value of unlocking the business logic siloed in spreadsheets almost instantly with Coherent Spark. This is driving increased demand and fueling our company growth,” said John Brisco, Chief Executive Officer and Co-Founder of Coherent. “We are building out an organization designed to scale and are directly mapping our resources to the needs of our current and future customers as we continue to expand the Coherent Spark platform across different industry verticals and markets worldwide.”
Executive additions and updates
Joel Lim takes an expanded role as CEO, Asia while continuing to lead the company’s go-to-market strategy and operations. With prior executive experience as partner at EY and various roles at PwC and IBM, he brings a wealth of expertise and experience to this expanded leadership role.
Robert Showers brings nearly two decades of financial services experience to his role as Chief Revenue Officer, where he will be responsible for driving cohesion and alignment between all revenue-related functions of the platform. He most recently served as the sales and relationship management lead for Alternative Asset Managers in the Americas at BNP Paribas Securities Services, where he drove business strategy and product sales across the full suite of BNPs infrastructure solutions platform.
Mukkul Dasgupta joins as Chief Product Officer responsible for leading the product management for Spark, Coherent’s flagship platform. Prior to joining Coherent, Mukkul led multi-disciplinary teams in strategy, operations, analytics, and product and engineering at top-tier technology and management consulting firms across the U.S., Asia-Pacific, and Europe including LinkedIn, SAP, Bain & Company, and Microsoft.
B2B SaaS marketing industry vet Andrew Hoerner joins Coherent as Global Chief Marketing Officer. He brings extensive leadership experience across marketing, product marketing, and public relations from roles held at global public companies as well as fast growth startups. Throughout his career, Andrew led marketing transformation for noteworthy technology companies such as Symphony, McAfee, and Intel.
Chris Hansen joins Joel on the go-to-market team and brings experience from EY, Morgan Stanley, and GE. He joins Coherent after serving in the Finance Services Advisory practice of EY with over 16 years of experience of IT advisory in the banking, capital markets, and insurance industries, including virtual payment platforms and digital banks.
New partnerships
Over the past six months, Coherent cultivated partnerships with pioneers throughout the P&C insurance, retirement, and cloud-computing sectors. These partnerships included:
- Integrating Spark within Duck Creek Policy of P&C insurance software provider Duck Creek Technologies.
- Delivering more personalized options for retirement savers through faster product innovation with iJoin retirement plan technology platform.
- Launching Coherent Spark Native Application in the Snowflake Data Cloud.
- Developing an app for insurance platform Socotra’s App MarketPlace.
About Coherent
Coherent is a global software-as-a-service (SaaS) company that transforms spreadsheets into enterprise-grade code. Most companies run critical business operations on hundreds of spreadsheets. Additionally, they spend billions globally on IT budgets to recode the business logic inside spreadsheets to add connectivity to other applications, auditability, and cloud scalability. Spark is Coherent’s flagship solution, offering a no-code SaaS platform that makes building business software as fast, approachable, and cost-effective as using Excel. Users can create code from existing Excel rules, formulas, and data models in minutes and make it available via the cloud to securely connect with any modern application. They then supercharge it by adding deep version control, automated testing, and parallel simulation capabilities. For more information, visit: https://www.coherent.global/.
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