TechCXO Reports Full Year Revenue Growth for 2021; 18th Straight Year of Top Line Growth
TechCXO, a pioneer in providing industry-relevant interim and part-time executives and teams to companies in the U.S. and U.K., reported an increase of 47% in annual service fees in 2021 over 2020 to more than $41 million. TechCXO has increased revenue every year since its inception in 2003.
TechCXO and its clients worked together past the COVID-related business challenges in 2020 and 2021 with its largest revenue quarter ever in the fourth quarter of 2021.
TechCXO was founded in 2003 on the premise that companies can benefit from having the best executive talent available and serving as their CFOs, CTOs, CSOs, CMOs, CROs, COOs, CHROs and other executives on a part-time or interim basis. Companies might not otherwise be able to access the talent and experience level of a TechCXO partner and teams due to cost or availability.
Companies can also outsource their entire Finance, Sales & Marketing, IT, HR and Operations functions to TechCXO for 50-75% less than it costs to staff full-time, loaded salaries. All TechCXO partners and staff are U.S. and U.K.-based.
“We battled and rallied alongside our customers to stay flexible, preserve cash, and do what was necessary to assist them throughout the pandemic. Then, in 2021, we blew the top off with incredible growth,” said J. Kent Elmer, TechCXO’s Managing Partner and co-founder. “Companies are seeing how we can quickly turn on an entire Finance & Accounting, Revenue Growth or HR function in a couple of weeks with no overhead or added costs.
“We are benefitting from a tight labor market, particularly the difficulty in finding senior talent for leadership roles, but our value is more than that. Companies are realizing that TechCXO is a great option to bridge a company to the next level. We believe our approach is the future of how companies will quickly build, scale and grow,” Elmer added.
“What has been gratifying is how we’re growing. We saw significant increase in the diversity mix of our partnership last year, highlighted by two women leading the firm in billings,” said Mike Casey, TechCXO’s co-founder. “In terms of services, our CFO practice has always been a mainstay and our largest practice, but now our Human Capital and Product and Technology groups are leading our growth with Marketing and Sales significantly rebounding from COVID business pressures.”
TechCXO added that it sees greater adoption of its executive operations practice and team coaching delivery model, in addition to interim and fractional executives, specialized training and the full outsourcing of strategic and operational functions.