Myriota appoints Richard Leon as Chief Financial Officer

Myriota has appointed Richard Leon as Chief Financial Officer as the satellite internet of things company prepares for a funding round.

Leon joins the Adelaide-based business with more than 35 years of experience in senior finance roles at listed technology companies, including Altium and Infomedia. At Altium, he most recently served as Chief Financial Officer, having previously held the role from 2008 to 2016.

He was part of the leadership team during Altium's sale to Renesas Electronics in a deal valued at AUD $9.1 billion. During his time at the software company, he also led a capital raising worth AUD $45 million.

Between his stints at Altium, Leon was Chief Financial Officer at Infomedia from 2016 to 2021. During that time, he led an AUD $85 million raise, and Infomedia's share price increased fourfold.

Myriota is hiring the finance executive as it seeks further growth outside Australia. His background in capital markets, acquisitions and international expansion is expected to support investor engagement ahead of the company's next raise.

The business develops satellite-based internet of things connectivity for remote assets and operations. It has raised more than $100 million to date, built a patent portfolio of more than 170 patents and established teams across 19 locations globally.

Growth push

Myriota has been expanding its product offering as it seeks wider commercial uptake. Recent launches include its HyperPulse hybrid satellite and cellular IoT network and its AssetHawk asset tracking platform.

The company serves sectors including agriculture, utilities, logistics, mining, environmental monitoring and defence. Its technology connects and monitors assets in remote areas where conventional networks are limited or unavailable.

Chief Executive Officer Ben Cade said the appointment reflects the company's next stage of development. "Richard is a world-class technology CFO with an exceptional track record for helping innovative companies scale globally," Cade said.

"Beyond his impressive achievements, Richard is choosing to join a business whose mission, global potential and relentless approach to growth align. We're delighted he sees the opportunity ahead at Myriota as we build the leading platform for physical world intelligence," he said.

Leon said the company had reached an important point in its development. "Throughout my career, I've been fortunate to work with technology companies at pivotal stages of growth. Myriota has all the ingredients of a category-defining business: differentiated technology, a growing global market and a talented team with a clear vision," he said.

"I'm excited to partner with Ben and the team to execute that vision, build on the company's strong financial foundations and support the next stage of Myriota's growth," Leon said.

The appointment brings in an executive with experience in both public markets and corporate transactions at a time when investor scrutiny of technology businesses remains tight. For Myriota, which operates in a capital-intensive part of the communications market, finance leadership is likely to be central as it seeks new funding and broader international adoption.

Myriota provides both connectivity and hardware for customers managing critical operations in remote environments.