Craig Carra values perseverance and problem-solving, and he credits those traits for helping him rise to his current leadership position at MOBILion Systems, Inc.
“Having worked for several emerging growth companies, one of the greatest lessons I have learned centers around perseverance and finding ways to solve problems,” the chief financial officer said. “It’s a ‘never quit’ attitude that you must possess. I have worked with several executive teams during my career where we were able to overcome various business challenges, such as product failures, slow market adoption, capital funding challenges and people challenges. Having the right team, with the right attitude and work ethic, is critical to success.”
MOBILion Systems, Inc. is a life sciences tools and diagnostics company focused on leveraging its technology to help pharmaceutical companies and researchers improve how therapies are developed and diseases are predicted or diagnosed.
Carra joined MOBILion in November 2020 as CFO with the goal to develop the company’s financial and accounting infrastructure and assist the CEO in raising capital. Within six months, Carra helped establish internal controls, develop a detailed financial reporting system for managers and the board of directors, create a five-year business plan and hire a team of accountants and FP&A specialists.
In June 2021, Carra helped the CEO complete a $60 million Series C financing led by D1 Capital Partners, using the proceeds to support a commercial launch and product development roadmap. The post-money valuation on the company doubled to $215 million. The company envisions growing to global operations, generating $40 million to $50 million in annual revenue and eventually completing a successful initial public offering.
Carra previously worked as CFO/chief operating officer for an orthopedics company called Trice Medical. During his six years at Trice Medical, the team developed several orthopedic products from initial design through Food and Drug Administration clearance, growing the business to 50 employees and more than $20 million in revenue.
Carra has an executive MBA from Villanova University. Over the course of his career, Carra has raised more than $100 million in capital to help support the growth of his companies. “I take pride in the fact that several of the accountants I have hired during my career have gone on to receive multiple promotions and have elevated their careers under my mentorship,” Carra said.
Carra has received numerous awards and recognitions in his career, including being named CFO of the Year (2016) by the Philadelphia Business Journal. He previously served as president of the Villanova MBA Alumni Association and has spoken at numerous conferences and leadership summits.
“I have always taken the position that networking is extremely critical to support your career,” Carra said. “I remain very active in national CFO networking groups and attend meetings as often as I can, both to further my education but also to make connections that count. … I sit on the Global Advisory Board of the CFO Alliance, and I am also actively seeking other board seat opportunities.”