Fujioka replaces Jamie Sutherland, who had held the job since December 2011. CEO Rod Drury said Sutherland, "Did a great job getting Xero up and running in the U.S. and is now focusing on Accountants and our US product strategy". Sutherland's new title is GM of U.S. products and solutions. Drury said the job in this country is to "Continue to build a strong accountants and bookkeepers channel. It works well for us in each other market, but is slower in the U.S. for several reasons." The latest investment follows $150 million the company snared in October 2013, with Matrix a major contributor. Xero intends to use its cash balance of about $214.6 million to grow the business here and in the United Kingdom. Fujioka had been interim VP of marketing and VP of sales for Xero in this country since September. He was at Dell from November 2010 through June 2014 and last held the job of global VP of enterprise solutions and business marketing for just over two years.
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XERO NAILS $110M MORE Featured
Xero has raised about $110.8 million in capital and named a new president in the United States. The company said this week Accel Partners is contributing $100 million in funding with current shareholder Matrix Capital Management chipping in $10.8 million. Well, this could explain the recent rise in the company's stock price. Meanwhile, Xero said that former Dell executive, Russell Fujioka, has been named president of its United States operations.
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