This article first appeared in our sister publication the Boston Business Journal.
For its first CFO, one of the fastest-growing private companies in Massachusetts picked a financial executive who worked directly on the IPO of one of the largest employers in the state.
Examity, a Newton-based company that proctors tests online, hired Nicholas Malone as its first chief financial officer. He started leading finance and operations at Examity on Dec. 2, reporting directly to CEO Michael London.
Malone was also the first CFO of Boston-based Internet retailer Wayfair, a role he held for the majority of his 12-year tenure with the company. At Wayfair, he became the company’s chief administrative officer right before the company’s IPO in 2014, and stayed on for three years post-IPO.
Malone, who also briefly worked at Cambridge-based bike-sharing company Zagster, said that Examity was the right fit for his career as he was looking for a high-growth company with a huge market opportunity, a top-tier team and a top-tier investor.
“They’ve doubled every year, and that’s going to continue to happen in the foreseeable future,” he said, referring to Examity.
Asked about a potential future for Examity in the public markets, Malone said that one of the reasons the company hired him was its plans for growth rather than his IPO experience.
“I’ve been at several companies, including Wayfair, that were going through rapid growth,” Malone said. “What I bring to the table is being able to help companies manage that growth from an infrastructure perspective, a finance perspective, an operations perspective and even from a people perspective.”
Founded in 2013 by London, Examity works with colleges, universities and employers to provide an anti-cheating software platform where test takers can take examinations remotely. From 2014 to 2017, the company’s revenue increased 1,056 percent, according to Business Journal research. Great Hill Partners, a Boston-based private equity firm, invested $90 million in Examity last year.
In Massachusetts, Examity has about 70 employees. Last year, the company ranked at No. 8 of BBJ’s Fast 50, the Boston Business Journal’s annual list of the 50 fastest-growing private companies in Massachusetts.
