SevOne to expand to larger Philly office

Tom Paine

Follow @phillytechnews

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

SevOne, the rapidly growing Wilmington-based supplier of software and appliances for large-scale, real time data network monitoring and management, announced today it is opening a larger Philadelphia satellite office at 1400 Chestnut Street. It replaces a smaller office SevOne opened just last year on Strawberry Street.

Open Layout of SevOne's new Philly office / SevOne

The new office can accomodate up to 55 employees, as opposed to 15 in the Strawberry Street location. SevOne's revenue growth, which has averaged 65% over the past three years, caused its overall headcount to double to 270 in just the past year, SevOne CEO Jack Sweeney said in a statement. In 2013, SevOne raised a $150 million round from Bain Capital.

Mayor Nutter will help SevOne celebrate the new opening with a ribbon-cutting ceremony this evening.

SevOne's expansion is a significant step toward adding to a highly skilled engineering workforce within the city. SevOne is anticipated by many to be an IPO candidate within the next few years.

“I’m excited and pleased to welcome SevOne to its new expanded offices on Chestnut Street in Center City,” said Mayor Nutter in a statement. “The continued growth of SevOne is yet another indicator of Philadelphia’s emergence as a hub for startups, technology and innovation.”