Enterprise Software
Emeryville, Calif.
9/20/2007
Media Publisher Names Ray Hood CEO
By Daniel Hausmann
Venture-backed Qumu Inc. has named Ray Hood as chief executive.
Hood replaces co-founder Rod Bacon, who will take the role of executive vice president of service providers. Hood said it was not a demotion for Bacon; rather, the co-founders wanted to bring in more company-building experience. Fellow co-founder Eric Alderman is the vice president of operations.
"A company this size, it helps to have someone come in who's been there already," Hood said.
Previously, Hood served as CEO of SensorLogic Inc. Hood was also chairman of ATM Direct Inc. which was sold to Pay By Touch in 2004 for $16 million. Hood currently serves on the company board of OneNetwork.
Media Publisher develops software that fully manages Webcasts.
Hood said it's likely the company will start looking for Series C investors in the near future. He said the company needs the money to take it to the next level and to spread out its risk.
Qumu has raised $6.6 million since it spun off from Inktomi Corp. in 2003. Its backers include Storm Ventures, The Angels' Forum, The Halo Fund and Garage Technology Ventures.