Parallax Capital Fund becomes new majority investor, appoints John Baldwin as Chief Executive Officer and Brad Clark as Chief Operating Officer
REDWOOD CITY, Calif. – Nov. 25, 2014 — With some analysts predicting the global gamification industry will surpass $5.5B by 2018, Bunchball, the pioneer and market leader in gamification, today announced that Parallax Capital Fund is now a majority investor and has made two key appointments to its executive team. John Baldwin has been named the company's chief executive officer and Brad Clark steps into the newly created role of chief operating officer. Both Baldwin and Clark join from Parallax, a software and technology acquisition firm based in Laguna Hills, Calif. They will be key to developing the strategies that will propel Bunchball into its next phase of growth.
"Today marks a major milestone for Bunchball – no other company is better positioned for growth and innovation,” said founder Rajat Paharia. "Over the past four years, we established the market for gamification, launched a company and began penetrating the large enterprise market. We have built a solid foundation based on innovation and enterprise results, and demand is continuing to grow. John and Brad are experienced software executives and it’s the perfect time in Bunchball's history to inject their strategic and operational expertise into our business."
Baldwin and Clark join the seasoned Bunchball leadership team, which includes founder Rajat Paharia, who will continue in his role as market evangelist and innovator, and key functional leaders: Erika Blaney, VP of Marketing; Gary Chavez, VP of Client Services; Joe Fisher, VP of Products; Ken Jones, VP of Corporate Development; Molly Kittle, VP of Digital Strategy; and Chris Sullivan, VP of Sales.
"Bunchball has an unmatched reputation in gamification, with great products, a phenomenal team that supports more than 300 enterprise customers and an impressive stable of A-list partners,” said Baldwin. "We have a tremendous potential to build our market leadership through innovative products and services that deliver even greater customer and partner success. I am honored to take Bunchball into its next phase of growth."
Bunchball is the market leader and visionary in gamification for the enterprise. Bunchball drives business results through gamification with its cloud-based platform that motivates and engages employees, customers and partners. Our world-class customer roster includes over 300 enterprise and Fortune 2000 companies, including Adobe, Cisco, HP, T-Mobile and VMware. Bunchball is strategically aligned with industry-leading partners, including BMC Software, Jive, IBM, NICE Systems and Salesforce.com, to deliver gamification solutions to enterprises globally. Based in Redwood City, California, Bunchball's investors include Parallax Capital Fund, Granite Ventures, Northport Investments and Correlation Ventures. For more information, visit www.bunchball.com, our blog at www.gamification.com, or follow @bunchball.