Model N (company)
{{Short description|American software company}}
{{Infobox company
| name = Model N, Inc.
| type = Private
| traded_as = {{Unbulleted list |{{NYSE was|MODN}}}}
| area_served = Worldwide
| key_people = {{ubl|Bret Connor (CEO)|Chris Lyon (CRO)| Baljit Dail (Chairman)}}
| revenue = {{nowrap| {{increase}} {{US$|249 million|link=yes}} (2023)}}
| num_employees = 1,089 (2023)
| footnotes =
| foundation = {{Start date and age|1999|12}}
| location_city = San Mateo, California
| location_country = U.S.
| owner = Vista Equity Partners
| homepage = {{URL|modeln.com}}
}}
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
Zack Rinat, the co-developer of NetDynamics Application Server, left Sun Microsystems to found Model N in 1999.
In 2004, the company added a Medicaid Claims Processing application to its Revenue Management Suite main product.
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 {{currency|100}} million. Venture capital firm Accel-KKR backed the initial public offering.
In 2024, Vista Equity Partners announced that it would take the company private in a $1.25 billion deal.
Corporate governance
In May 2018, Jason Blessing was announced as Model N's president and chief executive officer (CEO).{{Cite press release|url=https://www.businesswire.com/news/home/20180508006577/en/Model-Appoints-Jason-Blessing-Chief-Executive-Officer|title = Model N Appoints Jason Blessing as Chief Executive Officer|date = 8 May 2018}}{{Cite web|url=https://www.modeln.com/company/leadership/|title=Leadership}}
References
{{reflist|33em|refs=
- {{cite news | title=Model N jumps in 1st day on NYSE | agency=Associated Press | date=20 Mar 2013 | url=http://www.highbeam.com/doc/1A1-539ec0bd1a67433186c08e224153c9fa.html | archive-url=https://web.archive.org/web/20150329055423/http://www.highbeam.com/doc/1A1-539ec0bd1a67433186c08e224153c9fa.html | url-status=dead | archive-date=29 March 2015 }}
- {{cite news | title=Model N Medicaid Claims Processing announced | author=Staff | date=18 Oct 2004 | work=Biotech Business Week | publisher=NewsRx | location=United States | url=http://www.highbeam.com/doc/1G1-123266221.html | archive-url=https://web.archive.org/web/20150329055506/http://www.highbeam.com/doc/1G1-123266221.html | url-status=dead | archive-date=29 March 2015 }}
- {{cite news | title=Redwood City Software Firm Model N Gets an 'A' in IPO, Stock Shoots Higher | author=Owens, Jeremy C | date=20 Mar 2013 | work=Oakland Tribune | url=http://www.highbeam.com/doc/1P2-34418318.html | archive-url=https://web.archive.org/web/20150329053852/http://www.highbeam.com/doc/1P2-34418318.html | url-status=dead | archive-date=29 March 2015 }}
- {{Cite news |url=https://www.reuters.com/markets/deals/model-n-signs-125-bln-go-private-deal-with-vista-equity-2024-04-08/ |title=Model N signs $1.25 bln go-private deal with Vista Equity |date=8 April 2024 |publisher=Reuters}}
- {{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1118417/000111841723000209/modn-20230930.htm |title=FY 2023 Annual Report (Form 10-K) |date=17 November 2023 |publisher=U.S. Securities and Exchange Commission}}
- {{Cite news |last=Owens |first=Jeremy C. |date=20 March 2013 |title=Redwood City software firm Model N gets an 'A' in IPO, stock shoots higher |url=https://www.mercurynews.com/2013/03/20/redwood-city-software-firm-model-n-gets-an-a-in-ipo-stock-shoots-higher/ |work=The Mercury News}}
}}
{{coord|37.537|-122.2584|region:US-CA_type:landmark_scale:10000|format=dms|display=t}}
Category:Software companies based in California
Category:Software companies established in 1999
Category:Companies based in San Mateo, California
Category:Software companies of the United States
Category:1999 establishments in California
Category:2013 initial public offerings
Category:2024 mergers and acquisitions
Category:Companies formerly listed on the New York Stock Exchange