Hypergrowth accounting platform iplicit has appointed Olivia McMillan as its new Chief Operating Officer, following a GBP £25 million investment in the company by One Peak, a leading growth fund.
McMillan's role will involve ensuring that the company delivers on its ambitious goals as it aims for its seventh consecutive year of triple-digit revenue growth. The appointment is a strategic move for iplicit, which continues to challenge Sage in the UK midmarket accounting sector.
Ed Gairdner, who previously held the role of Chief Operating Officer, will now serve as Chief of Staff, focusing on corporate, legal, governance, and personnel aspects of the organisation's rapid expansion. McMillan will take charge of overseeing delivery across the business.
"We recognise that as we double in size this year, we need to continue delighting our customers and exceeding their expectations as we grow. That's what I'm here to ensure," said McMillan.
The recent investment from One Peak is set to accelerate product development and propel further growth for the cloud accounting company.
"I'm very excited about iplicit. It has the 'secret sauce' that consists of an incredible product, great people and perfect timing in a market that is unserved and massive. It's like we've rolled six sixes in a row, and we now aim to capitalise on our luck, and obtain a material share of this £2bn ARR opportunity," McMillan added.
With a strong background in leading SaaS businesses, McMillan brings extensive experience to iplicit. She was formerly Vice President of Operations for the UK and Canada at Dye & Durham, a Toronto-based legal technology provider, and she has also overseen customer operations at property tech company Houseful.
Her career in SaaS began in Australia at realestate.com.au, followed by a tenure at Zendesk, where she optimised operations in the Asia-Pacific region.
Reflecting on her decision to join iplicit, McMillan stated, "I've been aware of iplicit for quite some time and have watched its story unfold, especially over the past year. I've been looking for an organisation where I could be exceptionally proud of the product I advocate for. When I started reading about iplicit and its customer testimonials, I realised I had found that next exceptional piece of software and the next great organisation I could contribute to."
iplicit's CEO, Lyndon Stickley, expressed his satisfaction with the new appointment, saying, "I am really pleased to have secured Olivia onto the Leadership Team at iplicit. Her experience in transforming fast-growth organisations to enable true scale to be achieved is something that is very valuable to us at this stage of our journey. Our sights are now firmly set on becoming the most popular accounting software in the UK midmarket; we intend to grow relentlessly for the next decade or more."
He added, "Olivia also represents the final appointment in our C-Suite, to enable our aspirations to be achieved; we have an exceptionally strong team striving for, and delivering, exceptional results. There must have come a time when Netflix recognised that it wasn't just a market disruptor and a hopeful underdog; a turning point where it could see that the entire sector was available to it. At iplicit, we are now structured to redefine the entire accounting software sector."
