Apptegy Founder Jeston George recently left the Little Rock-based tech startup following a major investment by Baltimore-based equity firm JMI Equity, which focuses on investments in leading software companies.
“Jeston George had a very successful 10-year run at Apptegy, and the introduction of a new investment partner presented a tremendous opportunity for him to transition out of his day-to-day role with the company and enjoy the fruits of his labor,” Apptegy Chief of Staff Ashley Giles Coleman told Arkansas Money & Politics.
“We are grateful for Jeston’s stewardship of the company – his dedication and leadership have been instrumental in building Apptegy into the company that it is today, and he set us up to take advantage of a massive opportunity going forward,” Coleman said. “Jeston remains an investor in our company and a strong supporter of our business.”
Bob Butler, an operating partner at Five Elms Capital, which invests exclusively in business-to-business software companies, has been made interim CEO while the Apptegy Board of Directors conducts a national search to identify a permanent successor to George.
“JMI, Five Elms and our board believe there is incredible value in our business and they have a vision to take Apptegy to new heights,” Coleman said. “We are excited about what the future holds and believe Apptegy is well-positioned for continued growth and success for many years to come.”
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