Redwood Software Accelerates Full Stack Automation Growth with Newly Formed Managed File Transfer Business Segment and Executive Leadership Additions

FRISCO, Texas, March 28, 2023 (GLOBE NEWSWIRE) -- Redwood Software, the industry leader in full stack automation, today announced the formation of its managed file transfer (MFT) business segment. In 2020, Redwood acquired JSCAPE, a leading enterprise MFT solution, which has resulted in significant growth for Redwood. With the addition of Cerberus, a secure file transfer provider, in February 2023, Redwood is now able to provide organizations of all sizes the optimal file transfer solution for every stage of their automation journey. Joining Redwood as General Manager of the MFT business segment is seasoned enterprise software executive Max Schultz. Schultz has extensive go-to-market and product expertise across startups and public companies, most recently as CEO of Test IO.

"Redwood is committed to investing in the people, technology and services that ensure customers always realize their full potential from our end-to-end automation portfolio," said Redwood CEO Kevin Greene. "I'm thrilled to welcome Max Schultz to the team. File transfer is core to enterprise automation, and Max's leadership of our MFT solutions will help drive even greater opportunities for organizations to seamlessly, securely and reliably exchange business data across the modern enterprise ecosystem."

Kevin Greene became CEO of Redwood in January 2022 and made several key executive appointments to ready the company for its next level of strategic growth, including Anoop Tripathi, Chief Technology Officer, Patty Donnelly, Chief People Officer, Charles Caldwell, SVP of Global Customer Success, Matt Nolan, SVP of Global Sales and Bryan Urioste, Chief Marketing Officer. On the heels of strong revenue acceleration in 2022, Redwood kicked off 2023 with its acquisition of Tidal Software, an enterprise workload provider, in January.

"This is an exciting time to be part of Redwood as we build the most comprehensive automation and file transfer suite in the industry," said Schultz. "Redwood's cloud-first approach to full stack automation, coupled with our ability to bridge the gap across applications, infrastructure and processes, makes us the clear choice for companies navigating a very fluid IT landscape."

According to Gartner^®, "Automation and orchestration strategies to embrace and scale event-driven business models and cloud infrastructures continue to evolve. I&O leaders must invest in platforms for service automation and orchestration to deliver customer-focused agility for their cloud, big data and DevOps initiatives."¹

File transfer products are increasingly necessary across the enterprise as data transfer compliance is placed under the microscope by GDPR, PCI, HIPAA and a growing fabric of lesser-known data privacy regulations. Additionally, workflow automation is a key driver of the IT function's shift from support to being a growth driver for businesses. Redwood is uniquely positioned to provide organizations the most advanced, end-to-end solutions they need to automate complex workflows across their enterprises.

To learn more about how organizations benefit from Redwood's full stack automation approach, visit www.redwood.com/customers.

¹ Gartner, "Market Guide for Service Orchestration and Automation Platforms," Chris Saunderson, Daniel Betts, Hassan Ennaciri, 23 January 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Redwood Software
Redwood Software is the leader in full stack automation for mission-critical business processes. With the first SaaS-based composable automation platform specifically built for ERP, we believe in the transformative power of automation. Our unparalleled solutions empower you to orchestrate, manage and monitor your workflows across any application, service or server ? in the cloud or on premise ? with confidence and control. Redwood's global team of automation experts and customer success engineers provide solutions and world-class support designed to give you the freedom and time to imagine and define your future. Get out of the weeds and see the forest, with Redwood Software. www.redwood.com

Tidal^® and JSCAPE^® are registered trademarks of Redwood Software, Inc.
All other trademarks listed herein are owned by their respective companies.

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