NewRocket Names Harsha Kumar as CEO, Eyeing Growth in ServiceNow Ecosystem

Portfolio - People | Nov 11, 2024 | Gryphon Investors

NewRocket Names Harsha Kumar as CEO, Eyeing Growth in ServiceNow Ecosystem

NewRocket, a prominent digital workflow advisor and Elite ServiceNow partner, has recently appointed Harsha Kumar as its CEO. Kumar replaces Gary DiOrio, who will continue to contribute to NewRocket as a board member. Backed by Gryphon Investors, a significant player in the middle-market private equity landscape, NewRocket is poised for growth under Kumar's leadership. Kumar brings a wealth of experience, previously serving as CEO and President of Prodapt, where he successfully positioned the company as a key transformation partner for telecommunications globally. His impressive track record in revenue and EBITDA growth, coupled with deep knowledge of the ServiceNow ecosystem, makes him an ideal candidate to lead NewRocket. Gryphon Investors, which prioritizes investments in competitively advantaged companies, acknowledges Kumar's leadership as a significant asset, expecting his presence to drive NewRocket further in becoming a leading ServiceNow partner. Paul Fipps from ServiceNow expressed enthusiasm over the collaboration, foreseeing Kumar bolstering the strategic alignment between NewRocket and ServiceNow. NewRocket, known for its extensive expertise in digital workflow solutions, aims to continue providing transformative services to clients worldwide, leveraging Kumar's insights and strategic vision.

Sectors

  • Digital Workflow Solutions
  • Private Equity

Geography

  • United States – NewRocket and Gryphon Investors are based in the United States and operate globally, making the US a key geography in the article.

Industry

  • Digital Workflow Solutions – NewRocket operates in the digital workflow solutions industry, providing expertise in designing and implementing workflows to improve customer and employee experiences.
  • Private Equity – Gryphon Investors is a private equity firm focused on profitably growing middle-market companies, including those in software and technology solutions.

Financials

  • $9+ billion – Assets under management by Gryphon Investors, indicating significant financial backing and capacity for growth.

Participants

NameRoleTypeDescription
NewRocketTarget CompanyCompanyA digital workflow advisor and Elite ServiceNow partner seeking growth under new leadership.
Gryphon InvestorsPrivate Equity FirmCompanyA middle-market private equity firm backing NewRocket, focusing on growth in competitive sectors.
Harsha KumarIncoming CEOPersonNew CEO of NewRocket with a track record in digital transformation and revenue growth.
Gary DiOrioBoard MemberPersonFormer CEO of NewRocket, now rejoining the board to continue contributing strategically.
ServiceNowStrategic PartnerCompanyA leading provider of digital workflow solutions, collaborating with NewRocket under Kumar's leadership.
Paul FippsServiceNow President, Global Industries and Strategic GrowthPersonExpressed enthusiasm about Kumar's appointment in strengthening the partnership with NewRocket.
Gabe StephensonDeal PartnerPersonGryphon's head of Technology Solutions & Services group, highlighting Kumar's strategic fit for NewRocket.