A Columbus fintech startup aims to release new products and speed up hiring after shoring up its leadership team over the past year-plus, hiring execs from companies including Root Inc., Allstate and Nationwide.
Foxen promoted Kevin Jacobson to president from COO in January, capping the string of hires. He had joined the company in July 2022. Previously he had executive roles in Chicago-area financial tech companies.
"We're scaling the business in a very sustainable way," Squire Aschinger, Foxen vice president of product, said in an interview.
Other leadership additions, with details from their LinkedIn profiles:
- Meghann Ganey Carroll, chief revenue officer, hired in September from Allstate, where she was executive vice president of sales for its identity protection division.
- Sean Scott, vice president of software engineering, hired last March from the same job at fast-growing Quantum Health. He was with the Dublin company for more than four years after more than 11 years at Columbus-based Grange Insurance.
- Chelsea Dreven, vice president of customer experience, hired in August from Sezzle, a buy-now-pay-later startup, and with past roles including Alliance Data (now called Bread Financial) and Abercrombie & Fitch.
- Katie Farmer, vice president of finance, hired in late 2022 from Chicago risk management startup LogicGate.
- Kelli Stiles, promoted to chief legal and insurance officer from general counsel; she joined 18 months ago from Nationwide.
- Aschinger was hired in January 2023 after five years with Root Insurance and three years as an operations manager for Uber in Columbus.
Foxen Holdings Inc. spun out of Columbus-based Coastal Ridge Real Estate, an owner-operator of multifamily and student housing, in 2018. Jay Harkrider is founder of both and Foxen's CEO, now working out of its Santa Barbara office.
Foxen
Foxen's tech integrates with enterprise property management software platforms used by multifamily owners and operators.
The first product, called Foxen Waiver, helped protect building owners from losses if tenants lack renters' insurance. Foxen automates the process for tenants to upload proof of insurance and monitoring if it stays in force. If the policy lapses, Foxen automatically enrolls the tenant in a waiver program, paid with a rent surcharge.
Rentistry, added in 2022, a rent reporting tool that simultaneously helps tenants improve their credit scores. Otherwise renters are at a disadvantage to homeowners even if they pay on time, because the data isn't always reported to credit bureaus.
The financial amenity has more valuable impact for tenants than a pool or gym they might use once or twice, Aschinger said.
"We're focused on solving the next problem that will unlock other opportunities for us," he said. "How do we deepen our relationship with our customers?"
More products should roll out this year, he said.
Foxen has more than 110 employees, more than doubled over two years. Each of the new leaders this year is working on building a team.
The company moved to the Arena District at the start of 2023 from 80 on the Commons. There's also a Santa Barbara, California, satellite, but the majority of staff are in Central Ohio and spend most of their time in office.
Revenue doubled last year over 2022 and is on pace to do so again, Aschinger said. The dollar value is not disclosed.
Coastal Ridge was client No. 1, but customers are throughout the country, especially in large rental markets in Texas and Illinois.
Foxen has not sought outside capital since a $44 million private equity round in 2022.
"We're just here to build a very good business," Aschinger said. "We're focused on operating efficiently and controlling our own destiny from a financial perspective."
