Bit9 beefing up its exec ranks for possible IPO

Eric Pyenson (courtesy of Bit9)
Eric Pyenson (courtesy of Bit9)

Bit9 made my list of Boston’s next 12 tech IPO candidates in March. Today, the Waltham company announces that it’s added an executive who previously helped take A123 Systems public in 2009.

Eric Pyenson has been hired for the new position of vice president at general counsel at Bit9, a company with software for blocking cybersecurity threats.

Along with A123, Pyenson previously assisted with one prior IPO as well — Open Market in 1996. He has more than decades of executive experience overall.

In the announcement, Bit9 chief executive Patrick Morley pointed to Pyenson’s “experience in helping startup companies achieve strong results—including successful IPOs.”

Bit9 backer Atlas Venture has pointed to the company as an IPO candidate for the not-too-distant future, and Bit9 made a big move in February — raising $38 million and acquiring a security startup, Carbon Black, to expand its business.

Founded in 2002, the firm has raised $120 million in funding overall, putting it at No. 3 among the best-funded private software companies in Massachusetts.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
Follow Kyle on Twitter