David Garrity, CFA
Verified
From advisory and management experience in the technology sector, David has an in-depth understanding of the challenges confronted at different growth stages and the range of options available for optimal near- & long-term solution. At GVA Research, David advises The World Bank Group on the integration of information and communications technologies (ICT) in its development projects, primarily in sub-Saharan Africa and with a particular focus on mobile money, and Mobilis Networks Ltd. (www.mobilis.com), a cloud-based Software as a Service (SaaS) solutions provider for mobile banking, billing, payments and mobile money. David is an Advisory Board member at late-stage venture fund Pharus Capital Management (www.pharuscapital.com), real-time preference analytics SaaS software provider TrueChoice Solutions (www.truechoicesolutions.com) and AlleyWire (www.alleywire.com), an internet video-based media company focused on the NYC innovation community.
At Aspen Group, Inc., David served as Chief Financial Officer (CFO) from 2011 to 2013, during which time he raised $12mm in equity capital, conducted due diligence for the acquisition of Aspen University, a privately-held for-profit online graduate school, led the financial and legal process for the March 2012 reverse merger “go public” transaction, represented Aspen in discussions with the U.S. Department of Education as well as establishing the finance team necessary to manage business risks, provide strong financial controls and timely SEC reporting. Before Aspen, from 2008 David served on the Board of Directors and as CFO at Interclick, a behavioral targeting internet ad network, putting in place a strategic plan doubling profit margins as revenues grew at more than a 100% annual rate. For external capital, David secured a $10mm working capital line of credit in October 2008, a time of financial market disruption. Apart from operational oversight, David developed institutional research sponsorship for Interclick prior to full NASDAQ listing in November 2009. Yahoo! acquired Interclick in December 2011 for $270mm.
Prior to corporate service, David had an extensive financial services career in investment research in which he was recognized in the Wall Street Journal’s All-Star Analyst Survey and co-founded research firm American Technology Research. A CFA charter holder, David received an MBA from Northwestern University and a BA from Holy Cross. David holds FINRA Series 7, 24, 63, 79, 86 & 87 securities licenses and is an SEC Audit Committee financial expert.
Based on his technology sector expertise, David is a regular contributor to CNBC and other business media outlets. At the biennial UNESCO 2014 Tech4Dev conference (http://cooperation.epfl.ch/2014Tech4Dev), David presented the paper “Mobile Financial Services & Disaster Relief: Modeling Sustainability”.