DURHAM – ArchiveSocial, the fast-growing startup that raised a whopping $53 million in May, has a new CEO as founder Anil Chawla moves into the role as executive chairman.
Taking over day-to-day operations is Ray Carey.
The company also named Brian Carter as senior vice president for sales and marketing.
In a statement, ArchiveSocial said Chawla would “provide strategic vision and direction for the company.”
“The expanding use of social media by government and K-12 institutions coupled with the increasingly challenging regulatory and legal environment have created a massive demand for ArchiveSocial’s software,” said Chawla. “Ray has both the outstanding track record and sense of humor to scale and expand upon all that has driven ArchiveSocial’s success to-date. Brian is equally a perfect fit for our culture and brings immense expertise in accelerating and increasing value to customers in the public sector markets.”
On May 9 ArchiveSocial disclosed that it had raised $53 million in investment capital from private equity firm Level Equity, which has offices in San Francisco and New York. and has some $1.7 billion under management.
The amount is huge, given that ArchiveSocial had previously raised only $2.1 million from investors, according to Crunchbase. But the company has generated plenty of other news, from landing the Obama social archive in 2017 to securing a $100,000 investment from AOL founder Steve Case in a startup competition. And serial investor David Gardner, head of Cofounders Capital, believed in the ArchiveSocial mission, investing early on as an angel backer. In 2014, a $1 million investment came in from the West Coast.
Carey is a former CEO of NeoNova Networks as well as Astutute Solutions.
“Open and transparent communication has been the common factor in creating high-functioning teams and great outcomes at the organizations I have had the opportunity to work with and grow,” said Carey. “I was thrilled to find a company I am so well aligned with, a company whose whole mission is to empower and protect open dialogue. The work ArchiveSocial does is critical to our public institutions and Brian and I are proud to join a team dedicated to such an important mission.”
Carter moves to ArchiveSocial from Dude Solutions where he was senior vice president of sales.
“Our ability to recruit these two talented and successful team members underscores the attractiveness of the company we’ve built and the ongoing success of ArchiveSocial,” Chawa said in the announcement.
ArchiveSocial works with government, law enforcement agencies, schools and other firms to archive information about each shared on social media.