The co-founder and CTO of Naimuri has announced he’s stepping down from his day-to-day role.
Richard Fallon started the Manchester-based data intelligence company in 2015 and it now employs 180 people and has grown turnover to £20m.
In 2020 defence technology company QinetiQ acquired Naimuri on a cash-free, debt-free basis for £25m.
Fallon has often been the public face of Naimuri but recently joined the board of Manchester Angels and has opted for a change of role.
Writing on LinkedIn he said: “It is with a mixture of feelings from trepidation to excitement that I have decided to end my day-to-day activities as CTO at Naimuri.
“Having co-founded the company with some amazing people over eight years ago, and helped steer it through a successful acquisition into the very safe pair of hands that is QinetiQ, it is now time for me to step back and my last day will be at the end of August.
“I must thank everyone who has contributed to the success of this great company including the good people at QinetiQ for sticking to their word and ‘not breaking’ Naimuri.
“The company has kept its identity, culture, more than doubled in revenue and headcount in the last three years and the influx of new people has brought ever more great new ideas and aspirations.
“I will still continue with some advisory capacity and looking forward, will be focusing more time and attention on helping other technology companies grow.”
Fallon, who is speaking at the FUEL Manchester event on September 20th, recently started investing in early stage ventures, with a preference for local or climate tech.
He said: “I’ve joined the board of the Manchester Angels to help support its growth in the area.
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“I will still be advising Naimuri/QinetiQ on matters of growth in specific areas. After that – it is really a question of creating some space to see what happens.”