Olesen brings nearly 30 years of SaaS leadership experience.
EDMOND, Okla., Oct. 4, 2022 /PRNewswire/ — TokenEx, a leading cloud tokenization provider, announced today it has appointed Marc Olesen as the company’s new chief executive officer. Olesen, a recognized security and payments industry leader, joins TokenEx on the heels of its recent $100 million Series B funding by K1 Investment Management.
“With the rapidly evolving digital payments landscape and dramatic rise in data breaches, we have a massive opportunity in front of us at TokenEx to help organizations protect their most sensitive data from theft,” Olesen said. “I am excited to help lead TokenEx to new heights and further scale its product portfolio, customer service, and global operations.”
Olesen has an extensive background in security and payments. Prior to joining TokenEx, Olesen was president and chief executive officer for digital trust and safety leader Sift. He has also held executive leadership positions at Hewlett-Packard, McAfee, Splunk and Dynatrace.
“Marc’s domain expertise within payment security and deep background in growing SaaS companies will prove vital to TokenEx as we look to scale up,” TokenEx President and Chief Operating Officer Matthew Meehan said. “We are experiencing significant growth at TokenEx, and having Marc on board will ensure we continue to deliver the most innovative technology and the best customer experience to all our clients.”
Under Olesen’s leadership, TokenEx will continue its mission of helping organizations process payments reliably and securely. The recent and rapid rise in digital transactions is accompanied by heightened concerns regarding cyber breaches and theft of sensitive information. Through its technology, TokenEx dramatically reduces those risks for its customers and enables its clients to provide a secure and compliant infrastructure for processing payment data.
“We are experiencing a shift in commerce where the number of card-not-present transactions are sharply increasing but the number of bad actors seeking to compromise personal data is also at an all-time high, creating an urgent need for TokenEx solutions,” said Tarun Jain, principal at K1 Investment Management. “With Marc at the helm following our recent investment, we are confident that TokenEx has both the team and necessary capital to execute on the huge global opportunity that exists before them.”
Olesen is a graduate of Stanford University, where he earned a Bachelor of Arts in Economics and a Master of Science in Industrial Engineering and where he was also a member of the track and field team. He went on to compete professionally before embarking on a career in technology.
TokenEx is a cloud tokenization and payment optimization provider committed to helping organizations safely and compliantly process and transmit sensitive data. Its industry-leading solution for data protection can secure and desensitize any structured data element to reduce risk, streamline operations and enable critical business processes. For more information, visit tokenex.com or contact firstname.lastname@example.org.
K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 140 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes with operationally focused growth strategies designed to rapidly scale portfolio companies. Since inception of the firm, K1 has partnered with over 200 enterprise software companies including industry leaders such as accessiBe, Atera, Checkmarx, Complysci, ControlUp, Emburse, Employ, Granicus, HR Acuity, IronScales, Onit, RethinkFirst, Reveal-Brainspace, RFPIO, simPRO, Smarsh, XTM International and Zapproved. For more information, visit k1im.com and follow on LinkedIn.