Hasan Sukkar, the founder of 11x, is leaving the role of CEO. As Non-Executive Chairman, he will have a new role. This unexpected, major leadership shift comes as the family-run company looks ahead to its next expansion stage. We’re excited to announce Prabhav Jain will be that new CEO. For starters, he’s the former Chief Technology Officer of 11x, on top of a long stint at Brex—and three other venture-funded startups.
Sukkar’s announcement, which came through LinkedIn, is an exciting and transformational development for 11x. Board Chair Under his leadership, the entire company has transformed. As a result, it’s evolved from one small product with one specific use case into a robust platform that powers hundreds of the world’s most successful go-to-market (GTM) teams. To date, 11x has successfully raised over $70 million from various investors, showcasing its strong market position and growth potential.
Tough break, but it’s the company that raised one of the biggest Series A round ever at $24 million led by Benchmark’s Sarah Tavel. They built upon that accomplishment with a $50 million Series B round, led by Andreessen Horowitz and partner Joe Schmidt. Schmidt expressed his unwavering support for 11x and its new CEO, stating, “Hasan and the entire team at 11x have built something exceptional. Their team, product, and metrics are world class.”
Tavel will indeed play a very different role. She articulated her belief in the company’s exciting direction. “As a board member, I’ve seen the progress up close, and our conviction in the team and the opportunity is stronger than ever,” she remarked.
The stewardship change is seen as vital to the company’s long term metaverse plans. Given Jain’s extensive experience developing and executing strategic plans, his appointment should support 11x’s long-term goals as the company continues to pursue broader market opportunities. Sukkar will continue to be deeply engaged, advising Jain on big-picture strategy, product direction, industry relationships, etc.
Reflecting on his decision to step down, Sukkar stated, “I’ve spent a lot of time thinking about what it takes to go from a fast-growing startup to an enduring enterprise-grade scale-up, and I have realized that I love building from the ground up. It’s in my bones.” He added, “Sometimes, loving your company means knowing when to pass the CEO baton for the next leg of the race.”