Following Expansion into Wireless Expense Management, Motus Postures to Grow its Services for the Mobile Workforce
BOSTON, Mass., January 30, 2020 – Motus, the definitive leader in reimbursement solutions for businesses with mobile-enabled workforces, today announced that Tim Brown, Chief Financial Officer, is transitioning to Chief Corporate Development Officer as the company sets its sights on continuing the rapid expansion of its platform. In his new role, Brown will leverage his extensive corporate development and capital markets experience to focus on strategic acquisitions for Motus.
Brown has been at the financial helm of Motus since Chief Executive Officer Craig Powell joined the company in 2013. During his tenure as CFO, Brown and Powell have closed several significant acquisitions that have changed the face of the reimbursement industry. In 2018, Brown helped lead the acquisition of Runzheimer, solidifying Motus as the definitive leader in vehicle management and reimbursement solutions while also enabling Motus to better address the needs of the $2B fleet market. In 2019, he shepherded the acquisition of managed mobility services company Wireless Analytics, propelling Motus into the wireless expense management (WEM) space. Motus experienced sales growth of 33% in 2019, driven in large part by the continued expansion and penetration of its platform. And, the company expects to dramatically accelerate its acquisition activity throughout 2020 and beyond.
Brown has spent the past 20 years of his career working with technology and growth companies as an executive and investor. In that time, he served as CFO at Motus, overseeing the financial management, reporting and compliance functions, as well as identifying, evaluating and executing on opportunities to drive growth and operational improvements. Brown joined Motus after serving as the Chief Financial Officer of ConnectEDU (CDU). Prior to CDU, Brown led the corporate development/M&A function at EducationDynamics. He was also a principal at Halyard Capital, a private equity fund of which he was a member of the founding team. Brown began his career on Wall Street in investment banking after graduating from the University of Pennsylvania’s Wharton School of Business.
“The monumental acquisitions Motus has completed are due in no small part to Tim’s leadership, expertise and steady hand while serving as Motus’ CFO and leading these corporate development efforts,” said Craig Powell, CEO, Motus. “As we look to dramatically accelerate our M&A activity, it is only sensible to have Tim fully focused on these efforts. We will look to backfill Tim’s CFO responsibilities with a capable leader but feel confident in the team’s ability to execute on this function in the interim, while Tim and I accelerate our focus on inorganic growth opportunities.”
Motus is the definitive leader in solutions for businesses with mobile-enabled workers and fleets of any size. The Motus technology platform simplifies both mileage and mobile device reimbursement with proprietary software that calculates personalized and compliant reimbursements for each employee, while improving employee productivity and reducing the overall costs of mobility. The company’s data, captured and analyzed across the world’s largest retained pool of drivers, also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses. For more information please visit www.motus.com or connect with us on Twitter, Facebook, Instagram or LinkedIn.