DTEX Systems, a San Jose, California-based cybersecurity startup, announced Wednesday that technology industry veteran Dave Salverson was named its finance chief.
Throughout his corporate finance career, which has spanned more than two decades, Salverson has been particularly adept at developing finance teams, systems, and processes in high-growth companies, according to a DTEX press release.
Prior to joining DTEX, he was CFO of Hazelcast, a Palo Alto, California-based provider of real-time data processing services, for about two years, according to his LinkedIn profile. He also served as vice president of finance at Shape Security, a cybersecurity firm headquartered in Santa Clara, California. He is DTEX’s first CFO, a spokesperson told CFO Dive.
DTEX focuses on helping companies to address cybersecurity risks posed by their employees.
In February 2022, the company reported a 72% year-over-year increase in insider threat incidents. Three quarters of insider threat criminal prosecutions were the result of remote workers, and 56% of organizations had an insider data theft incident resulting from employees leaving or joining other companies.
The appointment of Salverson as CFO of DTEX will support its “growth trajectory” amid rising demand for its services, the company said.
“As organizations continue to navigate the evolving insider risk landscape in today’s hybrid workplace, executive leadership teams are recognizing the importance of increased visibility into employee behaviors and actions,” DTEX President Mohan Koo said in the release.
He added that Salverson’s expertise will “be critical as we drive our next stage of growth.”
During his tenure as Shape Security’s vice president of finance, Salverson was integral in scaling the company and positioning it to be acquired by F5 Networks for $1 billion in 2020, the release said.
Besides Hazelcast and Shape Security, he has also served in financial roles at Ruckus Networks, Brocade and Adobe.
“My experience working at world-class finance organizations and leveraging this knowledge to help startups achieve maximum growth potential will provide an immediate value-add as DTEX continues to solidify its position as the leader in insider risk and threat management,” he said in the DTEX release.