Virtualnonexecs.com, a prominent platform connecting non-executive directors and chairs with venture capital and private equity firms, has achieved a remarkable milestone, revealing an annual recurring run rate revenue of £1 million. Ian Wright, an accomplished tech entrepreneur and the founder, has outlined ambitious expansion plans that are set to add an additional £1.5 million to the ARR within the first year alone.
A Remarkable Growth Trajectory
Ian Wright, a prominent figure in the non-executive director domain, launched Virtualnonexecs.com in 2019 as his second venture in the industry. “Our growth has been nothing short of extraordinary; we’re almost overwhelmed by the demand,” shared Wright. The platform boasts a thriving community of over 17,000 non-executive and chair members, serving as an invaluable resource for numerous VC and PE firms.
“Our journey reflects the increasing dissatisfaction among investors with the exorbitant fees charged by certain intermediaries,” Wright added.
The Introduction of the VNXD Operator Network
A highlight for Virtualnonexecs.com is the debut of the VNXD Operator Network. This groundbreaking interface empowers VC and PE firms by granting them the authority to identify, map, and select top-tier board advisory talent, thereby eliminating the traditionally high costs associated with search firms.
Wright revealed, “We recently had a case where appointing a chair, a woman with a globally recognised profile in banking, saved a PE firm and their client over £100,000 solely in recruitment fees. Our unique community, coupled with the revolutionary VNXD Operator Network interface, allows us and our clients to conduct comprehensive market mapping, longlisting, and shortlisting within an hour. Furthermore, for those requiring further role management, our expert support team steps in.”
A Growing Force of Impact
Beyond recruitment, the VNXD Operator Network holds wider applications, particularly in identifying and connecting with potential non-executives and operators for investment endeavors. Wright highlighted that the combined membership of the platform indicates access to approximately £250 million in funds, positioning it as a transformative presence in the industry.
Operational Synergy
Virtualnonexecs.com thrives on a finely tuned mechanism that facilitates peer-to-peer collaboration among professionals to serve its expanding clientele. “We’ve achieved a harmonious balance where our teams work seamlessly to meet market demands,” explained Wright.
A Future Forged Through Strong and Diverse Collaborations
With a focus on the future, Virtualnonexecs.com is poised for further expansion. Wright concluded, “We’re projecting £6 million in revenue within two years, driven by the VNXD Operator Network, with an anticipated seven-figure profit in its first year. The future looks incredibly promising.”
The growing roster of alliances underscores Virtualnonexecs.com’s robust growth and market potential. Besides sponsorship and support from software giant Sage, the platform has recently forged a notable partnership with Quilter Cheviot, a formidable investment management entity with £25.9 billion in assets under management. Bolstering its support further, the platform is also backed by JMW, a prominent national law firm, national insurance broker Vista Insurance, and Catax, a subsidiary of the global powerhouse Ryan Group.
Wright is in advanced negotiations with several other affinity partners eager to align with Virtualnonexecs.com. He noted, “These multifaceted partnerships not only solidify the platform’s burgeoning reputation but also pave the way for an unprecedented phase of rapid growth and market leadership.” Backed by such a diverse and influential coalition of supporters, Virtualnonexecs.com is poised to reshape the landscape for non-executive directors, with seemingly boundless potential in the industry.
In a landscape characterised by constant evolution, Virtualnonexecs.com isn’t merely keeping up; it’s setting the pace for the market, redefining how non-executive directors and the investment community engage and conduct business.
