After five years at the helm, Kushel to focus on fintech investments with FINTOP Capital
Jersey City, NJ | May 6 2020: DealCloud, the premier provider of deal, relationship, and firm management software to capital markets firms, today announced that its Chief Executive Officer, Rick Kushel, will step down after five years in the role and will transition into a senior advisory position to Intapp, DealCloud’s parent company, effective June 1, 2020. DealCloud’s entire management team will continue on with the Intapp executive leadership team to help grow the overall enterprise and maintain the great trajectory the DealCloud business has enjoyed.
“I am extremely proud of the strides DealCloud has made since I joined the organization in 2015, and that growth has only accelerated since we were acquired by Intapp in 2018,” said Kushel. “I now look forward to contributing to the Intapp’s continued success in this advisory role, as well as mentoring management teams and driving strategy from the board-level from my General Partner post at FINTOP Capital.”
“Congratulations to Rick on the incredible success DealCloud has enjoyed under his leadership,” said John Hall, CEO of Intapp. “ We wish Rick every success and look forward to a bright future for Rick as well as for DealCloud and the entire Intapp community.”
During Kushel’s tenure, the DealCloud employee base grew from 8 to over 250, and recurring revenue grew by over 20X. In that time, DealCloud became one of the most recognizable names in the alternative investment and advisory technology industry.
Prior to DealCloud, Kushel served as a strategic advisor to the Innovations portfolio at The Blackstone Group. He joined Blackstone in 2007 to lead a technology spinout which became iLevel Solutions. Rick put together an investment consortium consisting of Blackstone, Carlyle Group, Duff & Phelps, and Hamilton Lane. Prior to that, Kushel was CEO of iLevel before it was acquired by Ipreo in 2015. Prior to Blackstone, Rick was Chairman and CEO of Archive Systems, Inc., a leading on-demand document management company he founded in 1991.
“Rick has brought deep expertise in both the financial services and technology industries to DealCloud which has enabled us to grow rapidly,” said Ben Harrison of DealCloud. “It has been a pleasure to work alongside him.”
DealCloud’s Lokesh Seth added: “Over the past five years, Rick’s leadership and industry experience has informed our technology roadmap and allowed us to transform the way more than 25,000 global capital markets professionals execute on deals every day. His contributions have made it possible for us to tackle the next five years of rapid corporate growth.”
Kushel’s FINTOP Capital venture fund has grown to substantial scale and impact, and in March 2020 sold its portfolio company, Solovis, to Nasdaq. Consequently, he has decided to focus on FINTOP and its portfolio of financial technology companies as his primary endeavor.