CHICAGO, IL, August 8th, 2023 — Wellspring, a global leader in software solutions for R&D, Tech Transfer, IP, and Innovation, today announced the arrival of Rich Barndt as the company’s new Chief Technology Officer and Scot DeLancey as the company's new Chief Product Officer. 

Along with other recent executive hires including the CEO and CFO as well as Chief Sales Officer, Rich and Scot will round out Wellspring’s executive team – tasked with piloting the company through its next growth phase. By adding seasoned executives in key areas, Wellspring will complement the company's deep in-house domain expertise with best practices of running a scaled B2B SaaS operation.

Both Rich and Scot are veterans of enterprise SaaS companies. Rich’s experience as a software CTO spans more than two decades, including executive roles at QAT Global, HP Services, and CentralReach. Scot has nearly twenty years' experience as a senior product management leader in roles at NCR Corporation, T2 Systems, and most recently Movista.

"We couldn't be more pleased to welcome Rich and Scot to the team," commented Sean Downs, Wellspring’s CEO. "They each bring multiple decades of relevant experience to their roles. I expect they will quickly make a positive impact on the trajectory of our company."

The CTO and CPO roles reflect a shared belief that a redoubled focus on new product development constitutes a powerful growth lever for the company – which indeed was foundational to the investment thesis in private equity fund RTP's platform investment in 2022.

Wellspring already enjoys best-in-class status in multiple product categories – as well as increasing market momentum given an ongoing round of growth investments across the business. Nonetheless, the company sees significant potential to build next-generation solutions and product architectures ahead of the curve.

About Wellspring 

Wellspring is the world's leading provider of R&D, Intellectual Property, and Technology Transfer software and solutions for corporations, universities, and government agencies. We help clients succeed in today's innovation economy by coordinating global R&D and innovation programs – managing research and IP portfolios, scouting emerging technologies, finding innovation partners, and commercializing inventions. Wellspring works with more than 500 organizations worldwide to support the continued development of the global Knowledge Supply Chain. For more information, please visit wellspring.com.