Model N (company)
| Company type | Private |
|---|---|
| |
| Founded | December 1999 |
| Headquarters | , U.S. |
Area served | Worldwide |
Key people |
|
| Revenue |  US$249 million (2023)[1] |
| Owner | Vista Equity Partners |
Number of employees | 1,089 (2023)[1] |
| Website | modeln |
Model N, Inc. is an American software company founded in 1999 and headquartered in San Mateo, California. The company offers revenue management software technology and life sciences companies. The company went public in 2013 and was taken private by Vista Equity Partners in 2024.
History
[edit]Zack Rinat, the co-developer of NetDynamics Application Server, left Sun Microsystems to found Model N in 1999.[2]
In 2004, the company added a Medicaid Claims Processing application to its Revenue Management Suite main product.[3]
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. 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 million.[4][5] Venture capital firm Accel-KKR backed the initial public offering.[4]
In 2024, Vista Equity Partners announced that it would take the company private in a $1.25 billion deal.[6]
Corporate governance
[edit]In May 2018, Jason Blessing was announced as Model N's president and chief executive officer (CEO).[7][8]
References
[edit]- ^ a b "FY 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 17 November 2023.
- ^ Owens, Jeremy C. (20 March 2013). "Redwood City software firm Model N gets an 'A' in IPO, stock shoots higher". The Mercury News.
- ^ Staff (18 Oct 2004). "Model N Medicaid Claims Processing announced". Biotech Business Week. United States: NewsRx. Archived from the original on 29 March 2015.
- ^ a b Owens, Jeremy C (20 Mar 2013). "Redwood City Software Firm Model N Gets an 'A' in IPO, Stock Shoots Higher". Oakland Tribune. Archived from the original on 29 March 2015.
- ^ "Model N jumps in 1st day on NYSE". Associated Press. 20 Mar 2013. Archived from the original on 29 March 2015.
- ^ "Model N signs $1.25 bln go-private deal with Vista Equity". Reuters. 8 April 2024.
- ^ "Model N Appoints Jason Blessing as Chief Executive Officer" (Press release). 8 May 2018.
- ^ "Leadership".
- Software companies based in California
- Software companies established in 1999
- Companies based in San Mateo, California
- Software companies of the United States
- 1999 establishments in California
- 2013 initial public offerings
- 2024 mergers and acquisitions
- Companies formerly listed on the New York Stock Exchange
- Private equity portfolio companies