Direct Investments

Science Warehouse announces strong half year results as it appoints new CTO

Science Warehouse, a leading provider of e-marketplace solutions, has announced year-on-year growth for the first half of the 2015-2016 financial year and the appointment of Jonathan Russell as chief technology officer (CTO).

Russell joins Science Warehouse from analytics software company FICO where he served as senior director of software engineering. He was responsible for the software platform underpinning financial services Software-as-a-Service (SaaS) start-up Adeptra (acquired by FICO in 2012), which saw double-digit year-on-year revenue growth and was listed seven times in the Sunday Times Tech Track 100. Experienced in building and managing agile software teams, Russell brings over 17 years’ experience in the industry spanning software development, testing, design and architecture, aligned with a deep understanding of operating a SaaS platform.

Russell joins Science Warehouse at a time of growth and will play a pivotal role in developing the company’s Source-to-Settle offering to provide end-to-end integration of sourcing and procurement for customers.

Science Warehouse chief executive Philip Padfield commented: “We are delighted to announce a 19% year-on-year increase in the first six months of trading in the current financial year. Several new customers have subscribed to our eMarketplace offerings, notably in the NHS and research sectors, and we continue to see organic growth across all our target markets.

We have strengthened our management team, and recently welcomed Jonathan Russell as our new CTO. Jonathan will be working closely with the team here as we build on our vision to provide a modularised Source-to-Settle suite, enabling our customers to implement a complete solution, or those elements that deliver the most value in their adoption life-cycle.”

Russell added: “I’m excited to be joining the Science Warehouse team at a time when there is substantial market value to be realised from the next wave of procurement technology. I’m looking forward to expanding our suite through use of innovative cloud and analytics technologies to provide customers with a compelling alternative to first generation Source-to-Settle solutions.”