John Karnes

John Karnes Email and Phone Number

Chief Financial Officer at Clarity Software Solutions, Inc. @ Clarity Software Solutions, Inc.
madison, connecticut, united states
John Karnes's Location
Madison, Connecticut, United States, United States
About John Karnes

John Karnes is a Chief Financial Officer at Clarity Software Solutions, Inc. at Clarity Software Solutions, Inc..

John Karnes's Current Company Details
Clarity Software Solutions, Inc.

Clarity Software Solutions, Inc.

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Chief Financial Officer at Clarity Software Solutions, Inc.
madison, connecticut, united states
Website:
clarityssi.com
Employees:
148
John Karnes Work Experience Details
  • Clarity Software Solutions, Inc.
    Chief Financial Officer
    Clarity Software Solutions, Inc. Dec 2023 - Present
    Madison, Connecticut, United States
  • Quarterhill Inc.
    Chief Financial Officer
    Quarterhill Inc. Jun 2022 - May 2023
    Dallas-Fort Worth Metroplex
    As the Chief Financial Officer of Quarterhill Inc., I was hired to expand this SaaS-enabled $200M toll road software company in the US, execute the strategic divestiture of its legacy operations, lead a $450M acquisition strategy, and improve legacy financial reporting, systems, and planning processes.► Built a new team of CPA leadership and management over FP&A, M&A, and financial systems ► Implemented NetSuite at a newly acquired $150M subsidiary, revised business processes to boost business performance and compliance-based controls visibility, and saved $850K in SG&A► Launched FP&A planning and forecasting model producing an annual operating budget, 13-week cash forecast, three-year financial plan, and five-year strategic plan to support value creation plan► Negotiated numerous waivers and amendments under the company’s bank credit facility
  • Ontellus
    Chief Financial Officer
    Ontellus Nov 2020 - Jun 2022
    Houston, Texas, United States
    As the Chief Financial Officer of Ontellus, recruited by PE sponsor, I provided the strategic, operational, financial, and M&A leadership to convert this $175M SaaS medical record e-Marketplace organization to an ARR revenue model and double revenues.► Spearheaded conversion of legacy record exchange service to recurring revenue-based eCommerce platform contributing $18M of EBITDA annually over a three-year value creation plan► Integrated zero-based/initiative-driven budgeting and agile forecasting process measuring performance metrics achievement in real-time► Innovated operational costing and financial reporting, including dashboards tracking orders, order value, and cost daily, enabling KPI-to-budget tracking and ROI-driven new logo pricing► Reduced G&A expense by +$1M, refining NetSuite and automating billing and collections► Led the successful acquisition of a leading competitor and 45-day operational integration
  • Vertafore
    Chief Financial Officer
    Vertafore Sep 2018 - May 2020
    Denver, Colorado
    As the Chief Financial Officer of Vertafore, I facilitated the highly successful $5.3B exit in 2020 of this Bain/Vista-owned SaaS Insurtech with nearly $600M in revenues and $2.7B in debt by remediating accounting issues and NetSuite deficiencies and implementing best-in-class financial systems facilitating scalability, efficiency, enriched reporting, and compliance. Reduced G&A by $3.3M, improved customer satisfaction by +90%, remediated NetSuite performance, instituted a new accounting team, and automated ordering, billing, and payments.► Achieved IPO readiness, rectifying audit deficiencies to ensure compliance with debt covenants ► Acquired a $180M Hyderabad-based SaaS company and fully integrated operations in 90 days ► Negotiated the $170M expansion of a $2.5B debt facility with +350 capital market participants► Boosted working capital +$10M with an order-to-cash program targeting $50M slow-pay accounts
  • Sambasafety
    Interim Chief Financial Officer
    Sambasafety Jan 2018 - Sep 2018
    Denver, Colorado, United States
    Acted as the interim Chief Financial Officer of SambaSafety for Abry Partners in this $120M SaaS driver monitor company during the active CEO search.
  • Alert Logic
    Chief Financial Officer
    Alert Logic Jun 2016 - Dec 2017
    Houston, Texas, United States
    As the Chief Financial Officer of Alert Logic, I achieved IPO readiness, leading a 9-month company sale process for this $120M SaaS cybersecurity provider. Directed a multi-disciplinary team of 65 in accounting, finance, FP&A, revenue operations, contract administration, HR, and IT. ► Introduced a renewal program to increase ARR by 4% and LTV by 220% for affected cohorts► Launched a contract administration function generating a 3% increase in ARR ► Implemented a three-year operating plan and agile forecasting process producing >99% accuracy ► Negotiated a $70M MRR-based, syndicated bank credit agreement to provide working capital► Instituted KPI-driven marketing metrics regime tracking ROI, lead cost/conversion, and CAC
  • Clearly Petroleum Llc
    Chief Financial Officer
    Clearly Petroleum Llc Nov 2013 - Jun 2016
    Houston, Texas, United States
    As the Chief Financial Officer, General Counsel, and Corporate Secretary of Clearly Petroleum LLC, Inavigated the startup operating company acquiring $500M of distressed portfolio assets to achieve IPO readiness, spearheading a two-step 144A/public offering process before the 2015 oil-price collapse resulting in company restructuring in 2016. ► Initiated the hiring of personnel, enactment of business processes, and raising of initial capital► Administered $280M debt/equity restructuring resulting in a change of control of the company► Accessed additional working capital by negotiating a $175M credit facility ► Reduced the operating budget by +70% to $20M annually and G&A expenses by 120% to $4M
  • Kior
    Chief Financial Officer
    Kior Feb 2011 - Nov 2013
    Houston, Texas, United States
    As the Chief Financial Officer of KiOR, Iadvanced three capital raises, successful IPO at $1B, and construction of a $350M cellulosic fuels refinery. Revenue scaled at $70M per year, but Renewable Fuels Standard (RFS) changes led to the company going private in 2014. Managed corporate accounting, FP&A, procurement, HR, IT teams, and plant staff.► Negotiated a $2.2B loan under the Obama Administration Department of Energy loan program► Directed a $375M capital expenditure program and $75M operating budget► Led $60M VC funding rounds, $55M follow-on rounds, and $350M of project finance offerings
  • Highland Oil & Gas, Llc
    Chief Financial Officer
    Highland Oil & Gas, Llc Jan 2010 - Feb 2011
    Houston, Texas, United States
  • Mariner Energy, Inc.
    Chief Financial Officer
    Mariner Energy, Inc. Aug 2006 - Nov 2009
    Houston, Texas, United States
    As the Chief Financial Officer of Mariner Energy, Inc., I led the company's going public (NYSE: "ME") and increased enterprise value nearly 300% to $3.8 billion through integration of acquired deep-water and Permian Basin assets combined with continuing high-impact acquisitions and accretive public offerings, ultimately resulting in the company's sale closing in 2011.
  • The Houston Exploration Company
    Chief Financial Officer
    The Houston Exploration Company 2002 - 2006
    Houston, Texas, United States
    As the Chief Financial Officer of The Houston Exploration Company, I formulated and led strategic plan increasing enterprise value nearly 200% to $1.8 billion for this publicly traded oil gas company (NYSE: "THX") through an innovative strategic split-off transaction from KeySpan Energy, numerous accretive acquisitions, and multiple public offerings, ultimately culminating in the company's sale process in 2006.
  • Cybercash
    Chief Financial Officer
    Cybercash Jan 2000 - Dec 2001
    Reston, Virginia, United States
    As the Chief Financial Officer of CyberCash, I achieved nearly a 100% increase in shareholder value of this global, publicly traded (NASDAQ: "CYCH") e-Commerce Internet payment provider, taking over software development operations in India employing over 400 engineers, rationalizing business units in UK and Asia, closing multiple private equity rounds, and orchestrating the company’s successful sale process to Verisign and First Data in 2001.
  • Snyder Oil
    General Counsel
    Snyder Oil 1998 - 1999
    Dallas-Fort Worth Metroplex
    As General Counsel of Snyder Oil, I led the successful review of strategic alternatives for this multi-billion dollar publicly traded (NYSE: "SNY") oil and gas company with substantial international holdings through its public subsidiaries SOCO International (enterprise value US$2.5 billion) and Cairn Energy (US$1.1 billion), ultimately leading to the company's sale in 1999.
  • Pillowtex Corp
    General Counsel
    Pillowtex Corp 1996 - 1997
    Dallas-Fort Worth Metroplex
    As the General Counsel of Pillowtex Corp, I delivered over 50% increase in enterprise value for this multi-billion dollar publicly traded (NYSE: "PTX") home textile manufacturer employing 16,000 workers globally, through a financial recapitalization and acquisition of industry leader Fieldcrest Cannon, culminating in the company's successful change of control in 1997.
  • Apache Corporation
    Deputy General Counsel
    Apache Corporation 1991 - 1995
    Houston, Texas, United States
    As the General Counsel (Interim) & Deputy General Counsel of Apache Corporation, I performed the senior-most executive legal, M&A and financial roles in the transformation of this Fortune 500 (NYSE: APA) oil and gas company from a master limited partnership promoter into the US' leading independent oil and gas producer through the roll up of 21 publicly traded MLPs, consummation of over 120 acquisitions ranging up to $550 million, and capital market executions raising over $4.0 billion of public debt and equity.
  • Kirkland & Ellis Llp
    Attorney At Law
    Kirkland & Ellis Llp 1987 - 1991
    United States
    As an Attorney at Law with Kirkland & Ellis LLP, I advised Boards of leading international clients such as NL Industries, Inc., Citicorp Venture Capital, Kronos GmbH, General Motors, and Contran Corporation. Expertise included corporate governance and stockholder matters, M&A, public debt and equity offerings including IPOs, leveraged buyouts, proxy contests, spin-offs, and going-private transactions.
  • Fidelity Investments
    Registered Representative
    Fidelity Investments 1982 - 1984
    United States
    Series 7
  • Lehman Brothers
    Financial Services Associate
    Lehman Brothers 1981 - 1982
    Houston, Texas, United States

John Karnes Education Details

Frequently Asked Questions about John Karnes

What company does John Karnes work for?

John Karnes works for Clarity Software Solutions, Inc.

What is John Karnes's role at the current company?

John Karnes's current role is Chief Financial Officer at Clarity Software Solutions, Inc..

What schools did John Karnes attend?

John Karnes attended Mit Sloan School Of Management, Southern Methodist University Dedman School Of Law, Texas Mccombs School Of Business, Texas Mccombs School Of Business.

Who are John Karnes's colleagues?

John Karnes's colleagues are Kyle Wilkins, Kelsey Rodriguez, Donald K Trotman, Dana B., Susan B., Danielle Bowen, Dave Sullivan Pmp.

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