Tech veteran Steve Nicolle has been named the CEO of BlueLight Analytics, taking over from J.P. Furey, who is no longer with the company.
Halifax-based BlueLight, whose technology measures the light dentists use to cure resin in fillings, issued a statement Thursday saying Nicolle, who is the Chair of the company’s board, has become the full-time CEO effective immediately. A spokeswoman for the company said the board is conducting a search for “a leader ideally suited to the company’s evolving and long-term needs.”
The statement also said the change in leadership – which comes eight months after the company closed a $3 million funding round led by CIC Capital Ventures of Montreal – is happening to align with significant growth plans.
“BlueLight is at a different stage of growth now, and we are delighted that someone with Steve’s industry experience has agreed to become the company’s CEO,” said Nicola Urbani, a BlueLight board member and CIC Principal. “We’re in great hands with Steve and we know he will ensure a seamless transition with delighted customers.”
Growing out of research at Dalhousie University, BlueLight began about nine years ago to solve the problem caused by the varying levels of energy released by the lights dentists use to cure resin. Each model has to be used for just the right amount of time to cure the resin properly. Too long a time could adversely affect the tooth and too little would leave the resin only partially cured.
BlueLight developed its checkMARC system, which can test and identify the efficacy of a dental office’s curing lights. The company has partnered with 3M to distribute checkMARC to dental equipment sellers so they can check the curing systems in the dental offices they visit.
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The company used recent financing – which including participation by Innovacorp – in part to develop checkUP, a new cost-effective data analytics product that ensures the optimal amount of energy for curing fillings.
Overseeing the new sales drive will be Nicolle, best known as serving as Chief Executive of STI Technologies Inc. from 2010 to 2014. STI sold for a reported $200 million in 2017 to Quintiles IMS, now IQVIA.
Before STI, Nicolle spent 10 years leading venture-backed technology companies, including time as the CEO of Tatara Systems and of Sigma Systems and the COO at March Networks. His is now a partner at Island Capital Partners, the investment group based in Charlottetown.
Furey had been named CEO in 2015, replacing Co-Founder Colin Deacon, who has since been named to the Senate. During his tenure, he closed the $3 million funding deal and signed the company’s partnership with 3M in the U.S. Furey had been the company’s CFO for a year before assuming the CEO’s role.
“We thank J.P. greatly for his involvement in the business milestones that BlueLight has experienced under his leadership,” said Urbani. “He has taken the company through some key steps over the last few years.”
The BlueLight statement said the company plans to increases its workforce “significantly” in the next two years as it expands its market presence and rolls out new products.
BlueLight now employs 22 people and plans to grow to "north of 30", including some key executive hires.
