Faction, a leading provider of next-generation cloud infrastructure, headquartered in Denver, CO, announced today that David Scholtz has joined the company as its President and Chief Operating Officer. As President & COO, Mr. Scholtz will be responsible for driving growth initiatives while scaling business operations to support Faction’s rapid expansion in the cloud infrastructure as a service (IaaS) market.
“Due to tremendous traction with our new product lines, we require additional executive resources to continue expanding our culture of innovation that got us to this point while at the same time ensuring we stay aligned with our customer-first mission,” said Luke Norris, CEO at Faction. “With Dave’s impressive record of proven leadership in the technology industry, I am excited to have him on board to execute upon our strategic initiatives with key industry partners as well as to drive growth and scale across our business.”
“Faction is well positioned to increasingly add unique value in an enormous market, as enterprises continue their evolution to the cloud and adopt and implement hybrid and multi-cloud strategies,” said David Scholtz. “Faction has a proven track record as an innovative IaaS provider, as evidenced by its patented connectivity technology, unique cloud-attached storage offerings, and deep industry partnerships. I am thrilled to join Luke and the team at this exciting time and contribute to further Faction’s rapid growth.”
This new position follows last month’s news of Faction’s recent strategic partnerships with VMware for VMware Cloud on AWS, CoreSite to expand multi-cloud storage and networking solutions, and NetApp for Cloud Control Volumes. All are evidence of Faction’s growing position as an innovator and leader in the cloud IaaS market, which Gartner, Forrester, IDC and others estimate to continue to grow at a compound annual growth rate (CAGR) of 16% to 19% over the next 10 years and spending on cloud computing expected to grow more than 6x the rate of IT spending through 2020.
Prior to Faction, Scholtz was CEO of Damballa, a leader in automated breach detection, and led the company through its acquisition by Core Security. At Damballa, Scholtz re-built a leadership team and redesigned the company’s go-to-market strategy, personnel and positioning, which resulted in the delivery of record revenues and consecutive years ranked on Deloitte’s Technology Fast 500 List.
Scholtz has almost 30 years of experience in the technology industry and a proven track record of leadership at some of the industry’s most successful companies. During Scholtz’s time as SVP of Global Alliances at McAfee, the company grew revenues from $1 billion to over $2.1 billion and was acquired by Intel for $7.7 billion. Before McAfee, Scholtz was VP of Worldwide Alliances & Channels at HP Software, which he joined via its $4.5 billion acquisition of Mercury Interactive. While at Mercury, where he was VP of Americas Alliances and Channels, Scholtz contributed to the company’s revenue growth from $150 million to nearly $1 billion.