Experienced Tech Executive Will Operationalize Growth Strategies at Elite ServiceNow Partner and Digital Workflow Advisor

NewRocket, a leading digital workflow advisor and Elite ServiceNow partner, announced today that it has named Frank Palermo as Chief Operating Officer. Mr. Palermo joins NewRocket with a distinguished track record of scaling technology-driven consultancies, and he will play a pivotal role in executing the Company's strategic growth initiatives. NewRocket is backed by Gryphon Investors ("Gryphon"), a leading middle-market private investment firm.

As an accomplished leader in the technology and consulting sector, Mr. Palermo has a track record of building and growing platform-oriented services businesses and leading many successful business units with services similar to those of NewRocket. He offers extensive experience enhancing customer outcomes by delivering innovative solutions and offerings, driving operational excellence, and directing high-performing teams.

"Having collaborated with Frank on several business endeavors, I am thrilled to be working closely with him once again – he brings a unique blend of expertise in AI, data, and workflows. He is also skilled at consulting and setting up innovation labs, and he has terrific leadership attributes," said Harsha Kumar, CEO of NewRocket. "We are confident that his leadership will further strengthen our ability to deliver creative solutions to our clients while expanding our footprint in the Agentic AI and ServiceNow consulting space."

Prior to joining NewRocket, Mr. Palermo held several technology and business leadership roles at Virtusa, a global engineering services firm. He was a member of Virtusa's executive leadership team and was instrumental in driving growth from a start-up business to a $2 billion global powerhouse. Mr. Palermo's roles included developing global technology practices in business process, data and analytics, cloud, and customer experience, launching a standalone digital business, building a TMT business, and most recently building a global business consulting and technology advisory practice focused on GenAI.

Prior to Virtusa, Mr. Palermo was CTO of INSCI (Clearstory), a document management, workflow, and imaging company that pioneered Internet-based bill presentment and was awarded Product of the Year. He also held several technology roles at IBM, most notably as one of the early pioneers of the PowerPC microprocessor product line.

Gabe Stephenson, Deal Partner & Head of Gryphon's Technology Solutions & Services group, noted, "We are excited to have Frank join Harsha's leadership team to help drive and operationalize NewRocket's growth strategy and enhance the Company's leadership position within the ServiceNow ecosystem. We are fortunate to have a talented management team that has scaled businesses from start-up stage to over $1 billion in revenue. Frank's passion for and knowledge about technology, his hands-on leadership style, and his track record building great businesses will be very additive to NewRocket."

Mr. Palermo added, "I am delighted and energized to join the NewRocket crew on our mission to be the world's leading ServiceNow partner. We will leverage ServiceNow's Agentic AI and Gen AI platform, industry solutions, workflows, and data to enable impactful transformations for our clients. I'd like to thank Gryphon and the NewRocket leadership team for providing me this fantastic opportunity."

About NewRocket

NewRocket brings over 19 years of advising and supporting clients in designing, implementing, and managing digital workflows to improve employee and customer experiences. An Elite ServiceNow Partner and ServiceNow Global Partner Award Winner, the Company has completed over 3,000 projects across nine industry specializations. NewRocket Goes Beyond Workflows™ to help clients transform their enterprise into a place where employees flourish, customers thrive, and people matter. With over 3,000 ServiceNow certifications, NewRocket's business strategists take a holistic, strategic approach to optimize the ServiceNow platform and help clients solve industry-specific challenges.

About Gryphon Investors‍

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon's highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon's three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon's targeted investment sectors.

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