Twenty-year SaaS industry veteran will help usher in the future of TokenEx.
TokenEx, an industry-leading cloud tokenization provider, announced the addition of a new chief revenue officer, Doug Scott, to guide the company in its next phase of growth following a $100 million Series B investment from K1 Investment Management.
“I’m excited to work with such a promising company to help them reach their growth ambitions,” said Doug Scott, Chief Revenue Officer, TokenEx. “TokenEx has already achieved some impressive results in terms of market leadership and client retention. I can’t wait to jump in as we look to unify and expand our capabilities across marketing, partnerships, sales and client success. The potential is sky-high.”
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Doug Scott, a 20-year software industry veteran, has a track record of executing global go-to-market strategies to accelerate growth while boosting organizational performance. Most recently, he served as SVP/COO for SAP Services’ Regulated Industries. In addition, he acts in an advisory capacity for Golden Section Ventures, a venture capital firm.
“Professionals with the level of talent and experience Doug has built over time are scarce. So, naturally, you must act when you find them,” said Alex Pezold, Founder and CEO, TokenEx. “At such a critical point in the TokenEx evolution, I couldn’t be more confident and excited to have Doug leading the charge as we expand our revenue-generating capabilities.”
Scott will be tasked with leading an ambitious growth strategy to exceed revenue targets and increase profitability. He will oversee and unify company revenue streams to ensure alignment, improve performance, optimize growth, and deliver customer satisfaction.
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Founded by payment security experts in 2010, TokenEx partners with its clients to secure their most sensitive data, typically cardholder data for card-not-present transactions. TokenEx collects data via API calls or managed file transfers before it enters an organization’s internal systems and then exchanges that sensitive data for nonsensitive data called “tokens.” These tokens can be sent to any API endpoint, creating a layer of abstraction that safeguards against cyber and ransomware attacks, while also increasing freedom, control, and interoperability for customers.
TokenEx experienced record growth in 2021 on the heels of increasing data breaches and digital payment transactions. According to a study by cybersecurity company Tenable, the total number of records exposed to bad actors in 2021 surpassed 40 billion, a 78% increase over 2020. Furthermore, the rise in card-not-present transactions, which has been further propelled by Covid-19, is creating an urgent need to secure digital payments worldwide.
