CAMBRIDGE, Mass.--(BUSINESS WIRE)--General Catalyst Partners, a venture capital firm that makes both early-stage and growth equity investments, today expanded its investment team with market trailblazer Scott Griffith as an XIR and partner. XIRs identify investments in transformative businesses and work alongside founders to provide leadership, mentorship and operational support to drive rapid scale via an active board role. This collaboration is the X-factor that enables companies to reach their full potential.
Scott is an experienced public company CEO and successful entrepreneur. He has spent his career building transformational companies, creating disruptive business models, driving brand leadership and delivering best-in-class technology. As an XIR and partner at General Catalyst, he will focus on innovative businesses that are driving growth and creating value by offering a category leading experience.
Scott has decades of experience in leadership roles at both Fortune 100 enterprises and innovative earlier-stage companies. Scott’s interest in how technology and brand can disrupt traditional businesses fueled his early passion for marketplace-driven business models and the sharing economy. As chairman and CEO of Zipcar from 2003 to 2013, he: repositioned the brand; revamped the business model; recruited a new leadership team and world class board; and implemented a performance based, data-driven culture. As a result, he transformed a small business into a profitable public company. His efforts at Zipcar led to the creation of an entire new category of transportation – car sharing – along the way.
He and his team grew the company from $2 million to nearly $300 million in revenues through organic growth and acquisitions before taking Zipcar public in 2011. Zipcar was recognized on the cover of both Inc. and Fortune, which dubbed Zipcar as the "Best New Idea in Business". Scott ultimately negotiated the sale of the company in 2013 to Avis Budget Group for approximately $500 million.
“From commerce to marketplaces to transportation, Scott understands consumer-driven business models and how to build and grow outstanding brands,” said David Fialkow, managing director, General Catalyst Partners. “Our XIR approach brings proven leaders together with companies that are positioned for rapid growth. We look forward to the invaluable experience, coaching and mentorship that Scott will bring to the management teams we support.”
“Well-branded, innovative business models are creating new markets and disrupting old ones at a breakneck pace,” said Scott Griffith. “Mainstream consumers clearly are ready to engage with new brands and businesses that use technology and business model innovation to reduce friction from the experience and create value for the consumer. The opportunity to deliver new products and services to smart, savvy, mobile-enabled consumers is attracting talented people to start and expand innovative businesses at a rate we’ve never seen before. I’m thrilled to work alongside the next generation of innovative leaders to help them build high-performance teams as they achieve their vision and reach their full potential.”
Scott was named one of Businessweek's Best Leaders of the Year, Corporate Responsibility Magazine's Social Entrepreneur CEO of the Year and one of Huffington Post's Game-Changers in Transportation. He serves on the boards of CoachUp (a General Catalyst portfolio company) and the Alliance for Business Leadership, and as leadership council chairman for the Massachusetts General Hospital Cancer Center.
About the XIR Platform
Exceptional businesses are built by exceptional people. General Catalyst’s XIR approach combines experience, expertise and acceleration strategies to support founders building transformative businesses, enabling profitable, mid-market companies at the threshold of hyper-growth to realize their full potential. XIRs are proven founders and CEOs – operators with deep domain expertise who have built and grown companies with hundreds of millions to over a billion dollars in revenues. XIRs identify investments and work alongside founders to provide leadership, mentorship and operational support to drive rapid scale via an active board role. This collaboration is the X-factor that accelerates the trajectory and improves the eventual outcome of a business.
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that makes early-stage and growth equity investments. The firm backs exceptional entrepreneurs who are building innovative technology companies that transform industries, including KAYAK, Demandware, Stripe, Airbnb, The Honest Company, Warby Parker, Datalogix, BigCommerce, Snapchat, HubSpot, and Datto. The General Catalyst partnership leverages its broad experience to help founders build market-leading businesses. General Catalyst has offices in Cambridge, MA, Palo Alto, CA and New York City. For more information, visit: www.generalcatalyst.com or www.twitter.com/gcvp.