Top Business Development Execs to Watch in 2022: Peraton’s Mike King – WashingtonExec
Chief Growth Officer, Peraton
Peraton grew so much in 2021 ⏤ sevenfold in revenue just in the first six months ⏤ that Chief Growth Officer Mike King expanded his organization and stood up new strategy and government relations teams in the second half of the year. Building on this momentum, Peraton achieved a 2.1 book-to-bill ratio in the first half of 2022. By August 2022, the company had already achieved 90% of its annual book-to-bill goal.
While these are transformative achievements, King is most proud of the returns Peraton is seeing from its technological investments.
“Our strategic investments in the right people, technology and innovation have allowed us to advance customer missions but also support national security,” he said.
Working with senior leadership, King identified opportunities for Peraton to support customers at a greater capacity, scale and impact than competitors. As a result, the company has won over $7 billion in contracts in 2022 alone ⏤ including a $2 billion award to serve as the enterprise IT integrator for the Defense Health Agency’s Military Health System; a $916 million task order that significantly expanded Peraton’s support of the Office of the Director of National Intelligence; and an $850 million award to provide a Defense Department customer with agile analytic platforms and data management solutions.
“Everything we do, whether it’s contracts or growth, feeds into the greater enterprise to create value-added business outcomes and increased customer mission impact,” said Szu Yang, Peraton chief contracts officer. “We’re always reinventing ourselves to be better through acquisitive and organic growth. Having worked across all areas of the business throughout his career, Mike is more than a traditional growth officer. His background allows him to be keenly aware of what it takes to move from RFP to award to consistent recompetes.”
In 2022-23, King and his team will remain heavily focused on identifying, recruiting and retaining the right talent to maintain existing contracts and generate organic growth. The mission knowledge Peraton delivers back to its customers is unrivaled, and many of the company’s experts are pioneers in their field.
In addition to having the right people, King and the team have diversified Peraton’s portfolio to where no contract generates more than 3.5% of the company’s total revenue. This market agility and resiliency allows Peraton to pursue multibillion-dollar contracts and compete in a new weight class. As the company continues to grow, King and his team will ensure Peraton’s strategic investments and technology capabilities deliberately match customers’ current and future mission requirements.