Houston-based SMA Technologies has hired Sam Foshay as its new CFO.
In addition to leading SMA’s finance, accounting and legal departments, "Foshay will be responsible for improving daily business operations, bolstering SMA’s financial health, and refining its growth profile to scale with customers and prospects as their needs evolve," SMA said. He has experience with both organic and inorganic growth in private equity, venture capital and publicly traded environments.
Foshay previously served as CFO at Honorlock, a Florida-based online exam proctoring company. Prior to that, he held several positions at Austin-based tech company Social Solutions, which changed its name to Bonterra last year.
SMA’s main product is OpCon, a workload automation tool designed for banks, credit unions and other financial services businesses.
SMA declined to name the company's prior CFO, but the company’s website previously listed Michael Stephens as CFO. Stephen left the role in 2022 to take over as CFO and COO of Denver-based Algo, according to his LinkedIn page, and an SMA spokesperson confirmed his departure took place in late summer or early fall.
Foshay's hiring follows SMA’s December appointment of Ryan Dimick as chief technology officer. SMA ended 2022 by acquiring VisualCron, a Sweden-based Windows automation tool, and receiving an investment from San Francisco-based Thoma Bravo in October. Although financial terms were not disclosed, SMA’s announcement said Thoma Bravo’s investment would allow the company to eventually expand geographically and into tangential industries.
SMA's latest C-suite announcement follows several leadership hires for Houston-based tech companies. Several days before Foshay’s appointment, local restaurant software provider HungerRush also named Dean Smith as its new CFO, taking over the position from David Tabachnick, and named Jim DaBroi as its new COO, a role previously held by Greg Davis, who departed in September to become CEO of Oregon-based BigLeaf Networks.
On the investment side, venture capital fund Mercury Fund promoted Samantha Lewis to partner with a focus on Web3 and fintech investment. Lewis had previously served as a principal.
SMA and HungerRush were just two Houston tech companies that named new leadership in the past year. Others include Houston Exponential, which named former NFL executive Natara Branch as its first CEO since changing to a for-profit company, and log management company Graylog Software, which hired Robert Rea as chief technology officer with co-founder Lennart Koopmann taking the post of chief product officer.
