On Thursday, Dark Matter Technologies announced the promotion of Vikas Rao from chief technology officer to CEO, with Rao replacing Sean Dugan.

At the same time, the Florida-headquartered company announced layoffs impacting 5% of its workforce. The roles affected were not immediately announced.

Rao, just one day into his new role heading the technology company, sat down with HousingWire and discussed his transition from CTO to CEO. He also clarified the strategy behind the layoffs and shared his focus on market implementation and lowering barriers for new customers. 

Editor’s Note: This interview has been edited for length and clarity

Sarah Wolak: Vikas, details ⇒