Model N (company)
| Company type | Public |
|---|---|
| NYSE: MODN | |
| Founded | 1999 |
| Founder | Zack Rinat |
| Headquarters | , United States |
Area served | Worldwide |
Key people |
|
| Revenue | US$100,000,000 (2014)[1] |
Number of employees | 600 (2014)[1] |
| Website | www |
Model N, Inc. is a public American software company founded in 1999 and headquartered in Redwood City, California. The name "Model N" refers to "model next", as in 'the next big thing', according to founder Zack Rinat.[1] The company's focus is on revenue management software, based on developments by Rinat,[2] initially for pharmaceutical and medical device companies.[3]
History
In 2004, the company added a Medicaid Claims Processing application to its Revenue Management Suite main product, making it the "first Medicaid solution integrated with commercial revenue management".[4]
In the spring of 2006, Model N completed an acquisition of Azerity, a software company that focused on pricing and quoting practices for the high tech industry. Due to this acquisition, Model N serves high tech customers such as ON Semiconductor and Dell. In early 2012, Model N acquired LeapFrogRX, an analytics company based in Waltham, Massachusetts.
In 2013, the company went public under the New York Stock Exchange ticker symbol MODN, raising about US$100,000,000.[2][5] Venture capital firm Accel-KKR backed the initial public offering.[2]
In November of 2013, Model N released CPQ (Configure Price Quote) software known as REVVY CPQ.
As of 2014[update], customers of Model N include Merck, Amgen, Johnson & Johnson among pharmaceutical companies; and Dell, Nokia and VMware among technology companies.[1] Model N is also a provider of revenue management solutions for about 1 in 5 semiconductor companies globally.[6]
Corporate governance
Model N's founder and executive chairman is Zack Rinat.[3] In 2016, Edward Sander was announced as chief executive officer (CEO), replacing Rinat.[7] In 2014, Mark Tisdel and Shail Khiyara were appointed to the posts of chief financial officer (CFO) and chief marketing officer (CMO), respectively.[3] Tisdel replaces CFO Sujan Jain.[3] As of 2014[update], Charles Robel is the company's lead director, and Sarah Friar is among the directors.[3]
Zack Rinat
Zack Rinat was born around 1959 and has served as a commander in the "Israeli special-forces".[1][notes 1] Prior to founding Model N, Rinat co-founded the software company NetDynamics, which was purchased by Sun Microsystems in 1998.[1]
Notes
- ^ 1959 year of birth based on age of 55 in Johnson interview of 2014.
References
- ^ a b c d e f Johnson, Steve (7 Nov 2014). "Q&A: Zack Rinat, Chairman and CEO of Model N". Oakland Tribune – via HighBeam Research.
- ^ a b c Owens, Jeremy C (20 Mar 2013). "Redwood City Software Firm Model N Gets an 'A' in IPO, Stock Shoots Higher". Oakland Tribune – via HighBeam Research.
- ^ a b c d e Staff (16 May 2014). "Model N Appoints New CFO and Chief Marketing Officer". Manufacturing Close-Up. United States: Close-Up Media – via HighBeam Research.
- ^ Staff (18 Oct 2004). "Model N Medicaid Claims Processing announced". Biotech Business Week. United States: NewsRx – via HighBeam Research.
- ^ "Model N jumps in 1st day on NYSE". Associated Press. 20 Mar 2013 – via HighBeam Research.
- ^ By Dean Takahashi, VentureBeat. “After a tumultuous year of consolidation, what comes next for the semiconductor industry?.” May 29, 2016. Retrieved June 1, 2016.
- ^ http://www.businesswire.com/news/home/20160208006205/en/Model-Founder-Zack-Rinat-Assume-Role-Executive