Forecast5 Analytics Announces CEO TransitionJuly 7, 2020
FOR IMMEDIATE RELEASEContact: Eric Smith, Vice President of Marketing & Partnerships
Forecast5 Analytics, Inc. announced today that Mike English is transitioning from the role of CEO/President to Executive Chairman. English handed over the leadership reins yesterday to new President and CEO Scott Smith, who has been with Forecast5 since its inception.
NAPERVILLE, Ill. (July 7, 2020) —Forecast5 Analytics, Inc. announced today that Mike English is transitioning from the role of CEO/President to Executive Chairman. English handed over the leadership reins yesterday to new President and CEO Scott Smith, who has been with Forecast5 since its inception and has worked with English for nearly two decades, most recently as Executive Vice President and Chief Revenue Officer. In English’s new role, he will continue his strategic involvement in key areas of the company, with a primary focus on product development and innovation.
English has spent nearly 30 years focused on serving local governments. As the former CEO of the PMA Companies in Naperville, Illinois, he spun off Forecast5 Analytics in 2012 with the focus of making a profound impact on students and communities by providing clients with analytic tools that influence local government decision-making. Forecast5 now offers a suite of decision support solutions that helps more than 2,000 public sector clients in 35 states harness the decision-making power of their data.
Since securing a growth equity partnership with Riverwood Capital in 2018, English has led the efforts to successfully acquire and integrate three new companies under the Forecast5 umbrella over the past fourteen months.
“I am very appreciative of both the partners and our partnership with Riverwood Capital,” stated Mike English. “Their investment and guidance in 2018 has propelled the company’s growth and allowed us to bring many of our ideas off the drawing board and deliver them into the hands of the public sector. As we transition the daily leadership to Scott, I look forward to focusing my time and effort into some areas of the business that I am truly passionate about. We have some exciting new products that we are developing and some incredible opportunities to transform the way the public sector uses data analytics, so I am looking forward to focusing heavily on those issues.”
"Mike is one of the most talented of the incredible group of founders & CEOs Riverwood has had the privilege of working with over the past 12 years,” commented Harish Belur, Partner, Riverwood Capital. “It is difficult to overstate his contributions to the creation and growth of Forecast5. We are deeply grateful to Mike for his partnership and look forward to continuing our journey with him in his new role as Executive Chairman."
Scott Smith’s career spans more than 25 years of increasingly senior roles in the financial sector, with a focus on serving local governments. He joined PMA Financial Network in 2002 and held several client advisory and sales roles over a ten-year period. In 2012, when English launched Forecast5 Analytics, Smith joined the team as National Sales Director and one of the four original employees. In 2015, he was promoted to Senior Vice President, Sales and Engagement, and in 2019, he took on his more recent role of Chief Revenue Officer & Executive Vice President. Over the last eight years, Smith has led the Forecast5 revenue strategy, with the team rolling out six products during that span and growing the number of client relationships significantly each year.
Said Scott Smith, “I’m grateful for the opportunity I've had to work alongside and be mentored by Mike for nearly two decades, and I’m excited to continue our work together in different capacities as we go forward. Over the past eight years, Mike has assembled both an outstanding leadership team and staff who are focused on our Forecast5 mission—positively impacting students and communities across the country by providing the analytics tools needed to navigate difficult decisions and communicate at all levels. I want to thank our partners at Riverwood for giving me the opportunity to lead the Forecast5 team into this next chapter, as we focus our efforts on further innovation and exceeding our clients’ expectations.”
“I have been working with Scott Smith for nearly 20 years and have tremendous respect for the effort and investment he has made in growing Forecast5 on a national basis," stated English. “His passion, his commitment, and his work ethic are all attributes that have served, and will continue to serve, Forecast5 and our clients at the highest level. I am excited to pass the daily leadership baton to Scott, and I will enjoy continuing to work with him in my new position of Executive Chairman.”
"Forecast5 Analytics is one of those unique companies that does well while doing good,” said Jeff Parks, Managing Partner, Riverwood Capital. “Riverwood is pleased with the strong growth of the company while it remains true to its mission. As the architect of the revenue strategy of the company and a key member of the founding group, Scott is the natural successor to Mike. We are excited about the next phase of Forecast5's growth under Scott's leadership."
About Forecast5 Analytics
Forecast5 Analytics increases financial, student, and organizational performance by empowering local government leaders with decision support tools that utilize state-of-the-art analytics technology. Our collaborative staff of experts take a high-level ownership of public sector challenges with a sense of urgency to create great outcomes for our clients and the communities they support. More than 2,000 local governments across the country are using Forecast5 tools to maximize their data insights. For more information, visit www.forecast5analytics.com.
About Riverwood Capital
Riverwood Capital is a technology-focused growth equity firm with over $3 billion in assets under management. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that need both growth capital and expertise to scale. Riverwood invests globally and leads both minority and control deals. The firm has offices in Menlo Park, CA; New York, NY; and Sao Paulo, Brazil. For more information about Riverwood and its portfolio, please visit www.riverwoodcapital.com.