SEATTLE (September 12, 2012) Fast growing Seattle based FlexMinder is pleased to announce that Lowell Ricklefs has been named CEO and Co-Founder for the TechStars 2011 graduate FlexMinder Inc. Original Co-Founder and transitioning CEO Deepak Kumar will resume his original role as CTO for the company.
“Lowell’s been a very active and instrumental advisor to the company for quite some time. He’s a proven leader with a wealth of experience in scaling business quickly, and has personally experienced the pain in managing his family’s Flexible Spending Accounts. He’s uniquely qualified to lead the organization going forward and we are excited to have him on the team,” said Kumar.
Most recently Ricklefs was Group COO for Toluna. He built the company from $15M in revenues to $120M over four years and 125 to 1,000 employees with a sale to a PE firm for $260M. Prior to that, he was with GMI for three years as CRO/EVP leading growth from $1M to nearly $60M. GMI was sold to WPP for close to $100M. Earlier he was an executive at Rockwell Automation including Global VP Channels ($3B Revenues) and Business Manager for Rockwell Software ($100M B2B Software Company). He has a degree from the University of Wisconsin-Madison in Electrical and Computer Engineering.
Rickfels adds, “I love this business because it is a win-win-win. This industry is very similar to what I saw in the past eight years in automating the inefficient market research data collection process by applying technology intelligently. This combined with a high integrity founding team of Deepak Kumar and Will Miceli was too good to not be a part of.”
FlexMinder can reduce transactional costs in a $10B industry by 50%. With FlexMinder clients can dramatically increase profits and users while simultaneously making it easy for people to pay out-of-pocket medical expenses with tax-free dollars.