|By Marketwired .||
|November 6, 2012 09:35 PM EST||
AUSTIN, TX -- (Marketwire) -- 11/06/12 -- Austin Ventures ("AV"), the most active and established early-stage venture capital firm in Texas, today announced that Brett Hurt has joined the firm as Venture Partner. Hurt is a seasoned entrepreneur who is widely recognized for turning groundbreaking ideas into leading businesses. He most recently led Bazaarvoice (NASDAQ: BV) as CEO from Austin start up to global, publicly-traded leader with nearly 2,000 clients and nine offices around the globe. He brings deep experience at all stages of the growth cycle and a clear eye for emerging market opportunities to Austin Ventures, where he will focus on early-stage venture investing. At Bazaarvoice, Hurt now serves as Vice Chairman of the Board of Directors.
"This is the most exciting time in the history of Austin for entrepreneurs," said Hurt. "Bazaarvoice's success, and the continued explosion of the tech scene here, has inspired and energized a new generation. I have been fortunate enough to be on the ground at every stage of a company's growth: identifying markets, scaling operations, leading IPOs and acquisitions, and nurturing the culture that makes success possible. I couldn't be more excited to put this expertise to work on finding and coaching the entrepreneurs that want to build the next great company."
"We have enjoyed the privilege of working with Brett for more than seven years. It has been a truly amazing run at Bazaarvoice from bootstrapped concept through IPO, follow-on offering, and now two acquisitions," said Chris Pacitti, General Partner, Austin Ventures. "Brett is enormously -- and contagiously -- passionate about entrepreneurship. We are excited to share that Brett has agreed to channel his boundless passion using the AV platform."
Hurt previously served as CEO and president of Bazaarvoice, leading the company through its highly successful Initial Public Offering (IPO), which the Wall Street Journal named as one of 2012's Best IPOs. Hurt subsequently guided the company through a successful follow-on offering, and two acquisitions, PowerReviews and Longboard Media. A past recipient of the Ernst & Young Entrepreneur of the Year award, Hurt was recently named Austin Business Journal's Best CEO of 2012.
Under Hurt's leadership, Bazaarvoice has been repeatedly recognized for its corporate culture that places innovation, passion, and service at the center of its business. The company has been ranked as one of the best places to work in Austin at every stage of its growth by the Austin Business Journal and Austin American-Statesman for its innovative culture and deep community involvement through the Bazaarvoice Foundation.
Prior to Bazaarvoice, Hurt founded Coremetrics and helped grow the company into a leading marketing analytics solution for the eCommerce industry before its acquisition by IBM. He was previously the founder and CEO of Hurt Technology Consulting and BodyMatrix, an online retailer of sports nutrition products, which he sold. Before that, he was a consultant at Deloitte Consulting and Andersen Consulting (now Accenture). Hurt holds an MBA in High-Tech Entrepreneurship from the Wharton School at the University of Pennsylvania and a BBA in Management Information Systems from the University of Texas at Austin. He is a native Austinite, and was fortunate to grow up in a city that supported his desire to change the world through technology and began programming computers when he was seven years old.
"My best advice to any aspiring CEO would be that the soul of a company is what drives long-term success, and culture really matters," Hurt continued. "I am honored and privileged to work alongside the best investors in Austin to charter the new companies that will truly make a difference in the world."
About Austin Ventures
Austin Ventures ("AV") has worked with talented entrepreneurs to build valuable companies for 30 years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on business services and supply chain, financial services, new media, Internet, and information services, AV invests at all stages of company development, from $100,000 in "planned experiments" in early-stage ideas to $100+ million investments in expansion rounds and recapitalizations. AV's strategy is to partner with talented executives and entrepreneurs through its CEO-in-Residence and Entrepreneur-in-Residence programs. Visit austinventures.com for more information.
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