Pipe Technologies, a platform that allows firms to turn their recurring revenue into up-front capital, is looking for a veteran CEO to take over at the firm amid a restructuring of its leadership team.
Co-founders and co-CEOs Harry Hurst and Josh Mangel, along with co-founder and CTO Zain Allarakhia, are all set to move into new positions at the firm.
Hurst is moving from his current position as co-CEO to vice chairman and will support the CEO search and transition. Mangel will act as CEO while the search is conducted and will become executive chairman once the new appointment is made.
Allarakhia will “remain deeply involved” at the firm in the role of senior advisor and will remain on Pipe’s board. Usman Masood, currently the EVP of engineering at the company, is set to become CTO.
The firm says it is seeking a CEO with “significant operational experience, proven leadership and a complementary skillset” to take the helm as it enters its next phase of growth and continues to scale.
Speaking on the move, Hurst says: “We acknowledge the company needs a veteran and experienced operational CEO to drive the business forward to even greater heights.”
“At this stage in Pipe’s lifecycle, it is critical that we have an operational leader with the experience to drive Pipe’s ambitions and long-term vision to scale.”
In February, Pipe acquired Purely Capital, a media and entertainment financing company, which now serves to help producers, rights owners and distributors drive up-front revenue from their long-term licensing contracts. Pipe says this is now one of the fastest-growing verticals on the platform.