Mr. Davenport most recently served as president of Revolution Health Network. Preceding his position at Revolution Health Network, he was the CEO of Vastera which sold to JP Morgan Chase in 2005. Prior to that, he served as CEO of Best Software, where he oversaw the company’s IPO in 1997, as well as its purchase by the Sage Group plc in 2000. Mr. Davenport has also served as an executive with a number of public and private technology companies, including Lotus Development and McGraw Hill. He has also held board positions in a number of successful technology companies including Axent Technologies, Softrax, Serena Software and CorasWorks Corporation.

“We are extremely excited that Tim has chosen to join Parature to help accelerate our worldwide growth,” stated Mr. Chung. “Tim’s leadership skills and extensive experience in the software industry make him the perfect fit to help guide us through this next phase of expansion. His valuable insight and remarkable management experience will further distinguish us as one of the fastest growing software companies in North America.”

Former CEO and founder Duke Chung will be responsible for thought leadership and analysis of growth strategies including corporate development, acquisitions, international expansion, new products, partnerships and channels, and represent the face of the company across key industry events worldwide.

“Parature is a great company with a terrific track record of high growth and customer success, and has a staff of highly skilled and dedicated employees,” stated Mr. Davenport. “Parature has done a tremendous job under Duke’s extraordinary leadership and I look forward to being part of a world-class team that continues to deliver great products and services to our customers.”

Parature CEO and President, Duke Chung

Duke Chung, our CEO and President, will present to the Sierra Ventures CIO Advisory Board at its fourth annual CIO Summit. The invite-only event is specifically designed for the 40+ person advisory board made up of IT executives from Fortune 500 companies across all major industries and throughout the US. The Advisory Board serves as a key element of Sierra’s IT investment strategy. This year’s event includes keynote speakers Joe Tucci – CEO/Chairman, EMC; Charles Phillips – President, Oracle; and Mark Templeton – CEO, Citrix, as well as 12 CEO presentations from Sierra’s portfolio, and panel discussions such as cloud computing and top IT spending trends. The event will be held at the Four Seasons Hotel Silicon Valley at East Palo Alto on Tuesday, September 15th in the Main Ballroom.