K2 Continues Transformation with Appointment of New CEO

BELLEVUE, Wash., Jan. 10, 2018 (GLOBE NEWSWIRE) -- K2 today announced that it has appointed accomplished technology executive Evan Ellis as Chief Executive Officer and board member to lead the company through its next phase of innovation and spur exponential growth.

Since its latest funding round in 2015, K2 has been transforming to be more heavily focused on providing its software as a cloud service. The culmination of this was the release of K2 Cloud in 2017, an evolution of its first cloud service K2 Appit for SharePoint. This release unlocked the company's ability to rapidly innovate on its platform with regular feature updates that put the leading-edge power of process automation in the hands of its customers. It also spurred strong business performance as the company closed the 2017 year with the largest single bookings quarter in company history.

"There couldn't be a better time for K2 to hire someone like Evan and I'm excited we were able to attract such impressive talent," said K2 co-founder, board member and former CEO, Adriaan van Wyk. "With the release of our latest platform last year, including K2 Cloud, K2 has a massive opportunity to realize its mission of automating every process in every organization. Coupled with Evan's vast experience in the software industry, especially in the cloud, and I think we have a winning combination."

Some may say, Ellis has ?done this before,' having occupied various executive offices at successful cloud software companies and has overseen significant revenue growth within those businesses. He was most recently President and Chief Operating Officer of Xactly, a leading provider of cloud-based incentive solutions, and has a wealth of experience in various high-level management positions across the technology industry. Prior to Xactly, Ellis served as COO at Serena Software as well as President and COO of on-demand Internet commerce pioneer CyberSource during its successful IPO in 1999.

"I'm excited to join K2 at this pivotal point in the company's history," said Ellis. "As I've gotten to know K2 through the hiring process and as I've begun to ramp-up, I've found that it already has three key ingredients for success ? great customers, great product and great people. With the K2 platform in a cloud delivery environment we can take it to the broader market and grow our already great customer base very quickly, making for an incredible future for K2."

Co-founder and former CEO, Adriaan van Wyk, is assisting Ellis with the transition for the next couple of weeks and will remain on the company's board and as the company's largest individual shareholder.

ABOUT K2: With K2's process automation platform, organizations can rapidly build and deploy enterprise-grade business process applications that are agile, scalable and reusable, and scale the platform across all processes that move work between people, systems and machines. K2 solutions are being used by more than 1.5 million users in more than 4,000 organizations, including 30 percent of Fortune 100 companies.

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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4aba79da-23b8-486a-aa81-fcecd611bbf8

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dd62b57c-6ffb-4c15-afe6-0a3eb963130b