Strategic transition enhances operational capabilities as Hurst brings decades of technology experience to lead Balena’s next phase of growth
LONDON--(BUSINESS WIRE)--Balena (the “Company”), the leading platform for edge device management backed by growth equity firm LoneTree Capital (“LoneTree”), today announced the appointment of Leon Hurst as Chief Executive Officer (“CEO”), effective immediately. Mr. Hurst joins Balena following the Company’s record-breaking H1 2026, and succeeds the three former co-CEOs who will transition to new leadership roles that position the Company to deepen its platform and widen its reach.
Mr. Hurst joins with more than two decades of international leadership experience across technology, SaaS and mobility, including senior positions at Flock, IMS (Trak Global Group), JATO Dynamics, Nokia and Jaguar Land Rover. At Balena, he will focus on expanding enterprise adoption while continuing to invest in the reliability, security and developer experience that have been central to the platform, building on a footprint of 600 global customers and more than 850,000 devices under management.
“The team at Balena has built a remarkable foundation rooted in developer trust and deep product credibility,” said Mr. Hurst. "As Robotics and Physical AI shift intelligence from data centers into the physical world, managing edge systems at scale introduces an entirely new level of complexity. Balena has spent years removing that complexity for developers. My priority as CEO is to expand our enterprise capabilities and accelerate our Edge AI roadmap, helping organizations across industries move from prototype to large-scale deployment with the least friction and maximal speed while preserving the developer-first approach, reliability and security that have always been central to Balena.”
Balena’s full-stack IoT and edge management platform brings modern cloud containerization and DevOps practices to physical hardware, simplifying how engineering teams build, deploy and manage connected-device fleets. By decoupling applications from the underlying operating system, Balena enables developers to push containerized updates to physical devices, manage fleets remotely and orchestrate workloads across more than 100 hardware types from a unified platform. The platform is hardware- and industry-agnostic, with proven deployments across core sectors, including energy and EV infrastructure, industrial automation, healthcare, agriculture and robotics.
As part of the strategic leadership transition, Balena’s three former co-CEOs will remain with the Company in executive roles: Chris Crocker-White as Chief Experience Officer, focused on user and developer experience; Phil Wilson as Chief Strategy Officer, aligning engineering, the product roadmap and commercial growth; and Konstantinos Mouzakis as Chief Transformation Officer, leading brand positioning and organizational design.
“Balena’s focus is to continue lowering the barrier to entry and improving the experience when deploying technology into the physical world,” said Mr. Crocker-White. “This next chapter gives us the opportunity to pursue the mission with refreshed conviction and get our product into the hands of those that will benefit most.”
“Balena has built a differentiated platform that addresses a fundamental challenge in this market: making it easier for organizations to deploy, secure and manage large fleets of devices without unnecessary complexity,” said Peter Bozian, Principal at LoneTree Capital. “We see significant room for Balena to expand its footprint across industries and larger enterprises, and we are excited to support Leon and the broader team as they execute on that opportunity.”
About Balena
Balena is a global IoT platform that gives developers and organizations a reliable way to build, deploy, and manage fleets of connected devices at scale. Using a secure, container-based architecture, it enables customers to set up devices, push over-the-air updates, monitor performance, and troubleshoot remotely from a single interface. Balena’s ecosystem supports a wide range of hardware and use cases, allowing teams to focus on their business rather than infrastructure complexity. For more information on Balena, please visit Balena.io.
About LoneTree Capital
Founded in 2021 and headquartered in New York City, LoneTree provides flexible capital alongside operational and M&A support to accelerate growth. The firm enables partner companies – notably, founder-owned bootstrapped businesses, divisions of larger enterprises and formerly venture-backed companies to achieve their next stage of growth. For more information on LoneTree, please visit lonetreecap.com. Balena marks the seventh platform investment from LoneTree I L.P.
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Effective Date: February 1, 2021
Last Updated: February 1, 2021
Introduction
This Privacy Policy applies to all data collection by LoneTree Capital (“LoneTree,” “we” or “us”) and shall apply to your use of the website, www.lonetreecap.com, and other LoneTree-related sites, communications, capabilities and services (“Services”) accessible on or by any top-level LoneTree domain owned by us (each, a “Site” and collectively the “Sites”) or otherwise interact with us, but excluding services that state that they are offered under a different privacy policy. This Privacy Policy governs the manner in which LoneTree collects information from you (“User” or “you”) on the Sites.
Our Privacy Policy explains: (1) what information we collect and why we collect it; (2) how we use and share that information; (3) the choices we offer, including how to access and update information.
Specifically, our Privacy Policy covers the following topics:
Please familiarize yourself with our privacy practices and let us know if you have any questions. By using the Sites, you signify your acceptance of this Privacy Policy. If you do not agree to this Privacy Policy, please do not use the Sites.
Irrespective of which country you live in, you authorize us to transfer, store, and use your information in the United States, and any other country where we operate. In some of these countries, the privacy and data protection laws and rules regarding when government authorities may access data may vary from those in the country where you live. Learn more about our data transfer operations in the “International Transfer” section below. If you do not agree to the transfer, storage and use of your information in the United States, and any other country where we operate, please do not use the Sites or Services.
If you have any questions or comments about this Privacy Policy, please submit a request to privacy@lonetree.com.
When this Privacy Policy Applies
Our Privacy Policy applies to all of the services offered by LoneTree and its affiliates but excludes services that have separate privacy policies that do not incorporate this Privacy Policy.
Our Privacy Policy does not apply to services offered by other companies or individuals, including products or sites that may be displayed to you, or other sites linked from our services. Our Privacy Policy does not cover the information practices of other companies and organizations who advertise our services, and who may use cookies, pixel tags and other technologies to serve and offer relevant ads.
Terms and Conditions
By accessing or using the Sites in any manner, you also agree to be bound by LoneTree's Terms and Conditions (the “Agreement”). Please read the Agreement carefully. If you do not accept all of the terms and conditions contained in or incorporated by reference into the Agreement, please do not use the Sites.
Information We Collect
We collect information, including personal data, to provide better services to all our Users. We use the term “Personal Data” to refer to any information that identifies or can be used to identify you. Common examples of personal data include: full name, home address, email address, digital identity, such as a login name or handle, information about your device, and certain metadata.
We collect Personal Data in the following ways:
1. Information You Give to Us
You may choose to provide us with Personal Data about yourself when you request information about our Services, transact business with us or engage with us at events or through email or through interactive features on the Site. This Personal Data may include your name, organization, phone number and email address, and any other Personal Data that you may provide. In some instances, you may elect to provide us with location and address information. You may also provide us with Personal Data about yourself when your report a problem or have a question about our Services.
2. Information We Obtain from Your Use of Our Services
We collect certain information automatically, such as your operating system version, browser type, and internet service provider. When you use our Site, we automatically collect and store this information in service logs. This includes: details of how you used our Site; Internet protocol address; and cookies that uniquely identify your browser. We may also collect and process information about your actual location. The information we collect automatically is statistical data and may or may not include Personal Data, but we may maintain it or associate it with Personal Data we collect in other ways or receive from third parties.
3. Cookies and Similar Technologies
We and our partners use various technologies to collect and store information when you visit one of our services, and this may include using cookies or similar technologies to identify your browser or device. We also use these technologies to collect and store information when you interact with services from our partners, such as advertising services. Our third party advertising and analytics partners include Google and similar partners.
The technologies we use for this automatic data collection may include:
Cookies. A cookie is a small file placed on the hard drive of your computer. You may refuse to accept browser cookies by activating the appropriate setting on your browser. However, if you select this setting you may be unable to access certain parts of our services. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies when you direct your browser to our services.
Web Beacons. Pages of our services or our e-mails may contain small electronic files known as web beacons (also referred to as clear gifs, pixel tags and single-pixel gifs) that permit us, for example, to count users who have visited those pages or opened an e-mail and for other related website statistics (for example, recording the popularity of certain website content and verifying system and server integrity).
How We Use Information We Collect
We use your personal data in ways that are compatible with the purposes for which it was collected or authorized by you, including for the following purposes:
We use the information we collect from our Sites to provide, maintain, and improve them, to develop new services, and to protect our firm, clients and portfolio companies.
We use information collected from cookies and other technologies, to improve your user experience and the overall quality of our Services. We may use your personal data to see which web pages you visit at our Site, which web site you visited before coming to our Site, and where you go after you leave our Site. We can then develop statistics that help us understand how our visitors use our Site and how to improve it. We may also use the information we obtain about you in other ways for which we provide specific notice at the time of collection.
Information We Share
We do not share Personal Data with companies, organizations and individuals outside of the Company unless one of the following circumstances applies:
Our Retention of Your Personal Data
We may retain your Personal Data for a period of time consistent with the original purpose for collection. For example, we keep your Personal Data for no longer than reasonably necessary for your use of our products and services and for a reasonable period of time afterward. We also may retain your Personal Data during the period of time needed for us to pursue our legitimate business interests, conduct audits, comply with our legal obligations, resolve disputes and enforce our agreements.
Our Opt-in/Opt-out Policy
By providing an email address on the LoneTree Sites, you agree that we may contact you in the event of a change in this Privacy Policy, to provide you with any service related notices, or to provide you with information about our events, invitations, or related educational information.
For purposes of this Privacy Policy, “opt-in” is generally defined as any affirmative action by a user to submit or receive information, as the case may be.
We currently provide the following opt-out opportunities:
Notwithstanding anything else in this Privacy Policy, please note that we always reserve the right to contact you in the event of a change in this Privacy Policy, or to provide you with any service related notices.
Third Party Links
The Sites may contain links to webpages operated by parties other than LoneTree. We do not control such websites and are not responsible for their contents or the privacy policies or other practices of such websites. Our inclusion of links to such websites does not imply any endorsement of the material on such websites or any association with their operators. Further, it is up to the User to take precautions to ensure that whatever links the User selects or software the User downloads (whether from this Site or other websites) is free of such items as viruses, worms, trojan horses, defects and other items of a destructive nature. These websites and services may have their own privacy policies, which the User will be subject to upon linking to the third party's website. LoneTree strongly recommends that each User review the third party's terms and policies.
No International Data Transfer
We are committed to complying with applicable laws, regulations and mandatory government standards regarding the protection of Personal Data.
LoneTree only operates in the United States and we do not transfer or store Personal Data outside of the United States. If we ever transfer your Personal Data out of your home jurisdiction, we will implement suitable safeguards and rely on legally-provided mechanisms to lawfully transfer data across borders to ensure that your Personal Data is protected.
How We Protect Personal Data
LoneTree maintains administrative, technical and physical safeguards designed to protect the User's Personal Data and information against accidental, unlawful or unauthorized destruction, loss, alteration, access, disclosure or use. We implement appropriate technical and organizational measures to ensure a level of security appropriate to the risk, taking into account technological reality, cost, the scope, context and purposes of processing weighted against the severity and likelihood that the processing could threaten individual rights and freedoms. For example, we use commercially reasonable security measures such as encryption, firewalls, and transport layer security (TLS) or hypertext transfer protocol secure (HTTPS) to protect Personal Data.
If LoneTree collects account information for payment or credit, LoneTree will use the information only to complete the task for which the account information was offered.
Children
The Site is not intended for use by children. We do not intentionally gather Personal Data about visitors who are under the age of 13. If a child has provided us with Personal Data, a parent or guardian of that child may contact us to have the information deleted from our records. If you believe that we might have any information from a child under age 13, please contact us at privacy@lonetree.com. If we learn that we have inadvertently collected the Personal Data of a child under 13, or equivalent minimum age depending on jurisdiction, we will take steps to delete the information as soon as possible.
Direct Marketing and “Do Not Track” Signals
LoneTree does not track its customers over time and across third party websites to provide targeted advertising and therefore does not respond to Do Not Track (DNT) signals. However, some third party sites do keep track of your browsing activities when they serve you content, which enables them to tailor what they present to you. If you are visiting such sites, your browser may include controls to block and delete cookies, web beacons and similar technologies, to allow you to opt out of data collection through those technologies.
Changes to this Privacy Policy
Our Privacy Policy may change from time to time. We will not reduce your rights under this Privacy Policy without your explicit consent. We will post any privacy policy changes on this page and, if the changes are significant, we will provide a more prominent notice (including, for certain services or products, email notification or privacy policy changes). We will also keep prior versions of this Privacy Policy in an archive for your review.
How to Contact Us
If you have any specific questions about this Privacy Policy, you can contact us via email or writing to us at the address below:
Email: privacy@lonetree.com
OR
Address:
LoneTree Capital
Attn: Privacy Policy Inquiry
230 Park Avenue
New York, NY 10003