eCommerce veteran Elizabeth Segovia joins company as CEO to power next round of strong ARR growth; Troy Lynch is retiring and will remain an advisor to the company
CHARLOTTESVILLE, VA – July 18, 2023: TradeCentric, the leading provider of B2B integration and automation between eCommerce systems and eProcurement solutions, announces that eCommerce veteran Elizabeth Segovia has joined the company as Chief Executive Officer. Troy Lynch, who has led the company’s strong growth in talent, ARR, customers and trading partners, is retiring.
“It has been an honor to serve TradeCentric over the past four years,” said Troy Lynch. “I am proud of the accomplishments we have achieved together and the vision we have been able to bring to fruition. I am excited to have Elizabeth lead the organization through its next stage of growth and I look forward to continuing to support the business in an advisory role.”
Lynch joined TradeCentric in 2019 and became CEO in early 2021. During his tenure, Lynch helped lead TradeCentric through a recapitalization of the company by Susquehannah Growth Equity, a rebrand, the buildout of a seasoned executive team and an expansion of the talented team of B2B experts. Other significant accomplishments include:
- Record Annual Recurring Revenue Growth.
- Expanding TradeCentric’s Customer and Trading Partner network to nearly 4,500 leading companies spanning 40 countries.
- Increasing transaction volume on the platform to more than 3 million transactions monthly, a more than 200% increase in volume.
- Driving significant investment in the TradeCentric platform and services, with extensive investments in security infrastructure and ISO 27001 and SOC2 certifications in addition to customer success initiatives.
The leadership and achievements of Lynch set an excellent stage for a seamless transition and continued success.
“I am passionate about building on TradeCentric’s momentum and helping the company continue to attract clients to our expanding solutions and scale operations,” said Elizabeth Segovia. “Troy’s leadership has cemented TradeCentric as the leader in B2B connected commerce and he has built a strong foundation for our next growth phase. I’m thrilled to carry on his work and guide the team to continued success.”
Segovia joins following a five-year tenure at ChannelAdvisor, most recently serving as Chief Operating Officer. She brings an extensive background driving customer success, building organizational capability, and scaling businesses during growth periods. Throughout her career, Segovia has led comprehensive transformation initiatives across multiple publicly-traded organizations, including IBM and Lenovo.
“Both Troy and Elizabeth have played and will play vital roles in TradeCentric’s story” said Ben Weinberg, Managing Director at Susquehanna Growth Equity. “Troy’s contributions have allowed Elizabeth to inherit an organization with strong executive leadership, a compelling product strategy, and impressive growth momentum. On behalf of the board, we express our deepest gratitude to Troy for his service, and we welcome Elizabeth in her new role as CEO.”
Looking ahead, TradeCentric is on track to have its strongest year yet. In addition to deploying connector enhancements that accelerate and improve B2B connected commerce enablement, the company is also developing new Platform features and functionalities that augment analytics and reporting capabilities. The company will also continue to gain traction and market share with leading enterprise B2B suppliers, as well as enhancing its offerings to ease invoice processing challenges for enterprise buyers.
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About TradeCentric
TradeCentric, formerly PunchOut2Go, transforms the way businesses transact by enabling PunchOut, Purchase Order and Invoice Automation solutions for thousands of companies around the world. Uniquely positioned at the intersection of eCommerce and eProcurement, TradeCentric helps B2B buyers and suppliers connect, automate and scale their digital trading capabilities via a cloud-based integration platform that is fully managed and purpose-built to simplify the complexities of B2B connected commerce. Learn more at TradeCentric.com.
About Susquehanna Growth Equity
Susquehanna Growth Equity (SGE) is an entrepreneur-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, internet, and information services companies. The firm has invested over $3 billion in 75+ market-leading technology companies over the last 15 years and has portfolio companies across the US, Canada, Europe, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com.
