Philly EnterpriseTech Highlights 9/13/2018
Anaplan files for IPO a week after hiring its finance chief from Tesla (CNBC)
Some ex-SAP, SAP Ariba execs are with Anaplan, which filed for IPO today.
Adobe-Marketo Acquisition: What We Know So Far
Is SAP out of the picture? (CMSWire)
Hamilton Lane part of syndicate buying NEA spinoff portfolio . (PE Hub)
Philly investment fund playing major role in what amounts to a new VC funding model.
GE’s Digital Spinoff: What Does It Mean for the Internet of Things? . (SandHill)
After the company fell apart, what's really usable in GE's Predix code. Who should buy?
USA Technologies recovers a bit from fall
Tom Paine
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Malvern-based USA Technologies had a good bounceback day on Thursday, ending up 7.39% to close at $10.90. This follows a Tuesday announcement by the company that it is conducting an internal investigation into the accounting of certain of its present and past contractual arrangements and financial reporting controls. Post announcement, shares fell by as much as 33%.
So the shares are still off a good bit. But the indication is that some shareholders think that the news wasn't that bad and the selloff was overdone. There has been no public release of information by the company, however, that would ease concerns.
The company has been on a roll, and still has a market cap of $585 million. It provides electronic payment systems for remote devices such as vending machines.
Sometimes recent acquisitions can be the cause of these types of problems. USAT acquired Canteloupe Systems last November for $85 million.
AT&T'S BRIAN LESSER DIALS THE FUTURE. WILL ANYONE ANSWER? . (AD Age)
"Brian Lesser sits in the shadow of Comcast. It's an unusually cool New York City summer morning, and as Lesser, the CEO of AT&T's advertising and analytics unit, details his grandiose plans to upend the TV ad industry from the roof-deck of AT&T's offices in Rockefeller Center, the peacock logo of Comcast's NBC division looms in the background."
PhillyTech People News 9/5/2018: IoT, Clinical Trials tech leads
Edison Partners hires new partner, Daniel Herscovici.
Previously, Dan worked at Xfinity Home where he was senior vice president and general manager.
The Amazon-Berkshire-JPM health venture led by Atul Gawande has a COO: Jack Stoddard (CNBC)
CRF Health and Bracket announced the closing of their merger in early September, creating a leader in Clinical Trials Technology based in Wayne. Bracket's current CEO, Mike Nolte, will assume the role of CEO for the combined company. An experienced leadership team from both organizations will help guide the strategic direction of CRF Bracket, the company says in a release.
Rick Bulotta is now Director, Azure IoT Strategy for Microsoft. Bulotta said on LinkedIn that he'd be working part time for Microsoft, based out of the Philly area. Bulotta, who co-founded ThingWorx, also has his own shop.
Leading Philadelphia based visual search company, Slyce, was awarded the prize for Mobile Solution of the Year at the Retail Systems Awards 2018 held in London, England in June. The award came as recognition for the company’s work with Tommy Hilfiger in producing its snap to shop app, TommyNow Snap.
Ted Mann, CEO of Slyce, who was in London to collect the award said, “This award is a great achievement for the entire Slyce team who went above and beyond to bring TommyNow Snap to life. It’s also fantastic recognition in Europe, a market we believe will be a strong one for our technology going forward. The app itself was a huge success which we’re very proud of - even Tommy himself was quoted as saying that the technology marked a ‘breakthrough in shopping!”
Slyce provided the cutting edge visual search technology at the heart of the app, the 1st ever retail shopping app built entirely around the camera and visual search.
Slyce is now expanding into France and has been selected to join Lafayette Plug and Play - the premier business accelerator for the retail and e-commerce industries.
MissionOG recently made what it considers two important hires for the firm's future.
Michael Heller is now an operating partner at MissionOG. Previously, he was the president and co-founder of Argus Information & Advisory Services, an information services firm that serves the banking industry.
Liz Haerling is its new VP of finance. She joins MissionOG after ten years with Graham Partners.
Managing partner George Krautzel emphasized two things in an email note:
1) how MissionOG is attracting top talent to a growing investment firm here in Philly
2) how MissionOG continues to accelerate and build a world-class investment firm here in Center City
Q&A: Entercom Comms Head Esther-Mireya Tejeda Is Wooing Marketers Back To Radio
(Holmes Report)
Entercom Taps New HR, SVP and Names Pair of PDs . (RadioWorld)
Dilworth Paxson appoints new co-COOs; Raju to serve another term as CEO
(Philadelphia Business Journal)
Connexus Technology CEO Wins Philadelphia Business Journal Award (PR Newswire)
DrayNow Raises $5 Million in Series A Financing from Comcast Ventures and Osage Venture Partners
24.178.145.127
DrayNow Raises $5 Million in Series A Financing from Comcast Ventures and Osage Venture Partners
The Intermodal trucking industry’s first technology platform for freight booking and tracking gains momentum in the hot shipping & logistics sector
August 28, 2018 08:00 AM Eastern Daylight Time
PHILADELPHIA--(BUSINESS WIRE)--DrayNow, the first real-time marketplace transforming the way Intermodal shipping brokers connect with available motor carriers, has completed its Series A funding of $5 million, led by Comcast Ventures and joined by Osage Venture Partners.
Philadelphia-based #tech #startup, @DrayNow completes its Series A funding of $5 Million led by @ComcastVentures and @OsageVP. DrayNow offers the first real-time marketplace for those working in #intermodal freight.
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“We’re passionate about removing the friction and manual processes from this niche of transportation that has struggled to innovate,” said Mike Albert, founder and CEO of DrayNow. “Every stakeholder within the intermodal supply chain is asking for transparency and status updates in increments previously unimaginable due to our industry’s fragmentation.”
DrayNow is reinventing the way Intermodal freight moves over the critical first and last miles with a robust, tech-enabled marketplace. DrayNow’s instant load-booking app and match-making platform not only helps shippers and brokers connect to trucking capacity, it provides the first window into what’s happening with any given shipment at any time.
DrayNow will use the recent financing to grow its team and fuel an expansion into new geographies. At a time when the Intermodal industry is facing constrained capacity, with fewer than 5,000 carriers able to access Intermodal freight, DrayNow opens that market to another 845,000 carriers. The company’s steady revenue growth and freight volume increases throughout 2018 is validating the value of a more accessible, real-time marketplace.
“Over the past 6 months, 78% of the loads posted on our DrayNow Marketplace are taken in less than 20 minutes. Both sides of the business – brokers and carriers – are capitalizing on the simplicity and transparency of our real-time booking engine,” said Albert. “And it’s not just the ability to match freight to carriers that’s driving the interest, it’s a superior experience. We spent the past 6 months asking our customers and users what they need…and then refining our platform to deliver total visibility, greater operational efficiency and other tools to help improve overall quality of life. Now, with the support of our great partners, Comcast Ventures and Osage Venture Partners, we’re better positioned to swiftly move into new markets.”
“The shipping and logistics industry is an incredibly vital and growing part of our economy. Yet the Intermodal sector of the industry has seen very little technology enabling the match-making and operational efficiency it needs,” said Sam Landman, managing director of Comcast Ventures. “We invested in DrayNow because the team and the technology establishes a much more efficient method for moving freight. In addition to being the first mover in the space, DrayNow has demonstrated an ability to build and refine an offering that addresses its customers’ pain points.”
DrayNow’s prior financing included co-founder investment and seed funding from Genacast Ventures.
About DrayNow
DrayNow provides technology-driven solutions for the intermodal freight industry. Led by industry veterans, the company operates the first intermodal marketplace connecting brokers to available carriers. The DrayNow Marketplace is accessed by Third-Party Logistics (3PLs), Intermodal Marketing Companies (IMCs), and brokers through a desktop interface where users can view truck capacity in real-time, post loads, track load status and obtain electronic documents immediately. With DrayNow’s mobile application, truck drivers can get turnkey access to Intermodal freight, browse loads, compare rates and details, select loads, deliver loads and get paid faster.
About Comcast Ventures
Comcast Ventures is the venture capital affiliate of Comcast Corporation. Comcast Ventures invests in innovative businesses that represent the next generation of technologies that will change the way people live, work and interact.
About Osage Venture Partners
Osage Venture Partners (OVP) invests in early stage, business-to-business (B2B) software companies on the East Coast from its offices just outside of Philadelphia, PA. With over $175 million under management, OVP seeks to invest in determined and creative entrepreneurs and provide them with the capital and support required to build high-growth, market-leading businesses. For more information, visit www.osagepartners.com.
Contacts
Broadpath, Inc.
Christina Manning (for DrayNow)
215-644-6509
cmanning@broadpathpr.com
DRAYNOW
Release Summary
DrayNow, the first real-time marketplace transforming the Intermodal freight industry, completes its Series A funding of $5M led by Comcast Ventures.
#Hashtags
#tech #intermodal #startup
Contacts
Broadpath, Inc.
Christina Manning (for DrayNow)
215-644-6509
cmanning@broadpathpr.com
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Tabula Rasa HealthCare Acquires Mediture and eClusive
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Tabula Rasa HealthCare Acquires Mediture and eClusive
Mediture’s Electronic Health Record software solution and eClusive’s third party administrator services will expand TRHC’s presence in the PACE market and with other At-risk Providers
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September 04, 2018 08:00 ET | Source: Tabula Rasa HealthCare, Inc.
MOORESTOWN, N.J., Sept. 04, 2018 (GLOBE NEWSWIRE) -- Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ:TRHC), a healthcare technology company advancing the field of medication safety, today announced it has acquired Mediture and eClusive, a leading electronic health record solution and provider of third party administrator services in the PACE (Program of All-inclusive Care for the Elderly) market. Mediture and eClusive also service several managed long-term care organizations in the State of New York.
“We are thrilled to join the TRHC family, which shares our commitment to quality care,” said Steve Wosje, Mediture’s newly-appointed Chief Operations Officer and previous Director of Operations. “We have had a long-standing and productive relationship with the leadership of TRHC over the years and together have brought innovative integration solutions to clients.”
Mediture and eClusive will become part of TRHC’s new CareVention HealthCare (“CareVention”) technology and service division, which was created in response to PACE 2.0, a National PACE Association initiative to accelerate PACE growth. The CareVention division will offer an integrated technology platform, including advanced data analytics, as well as consulting services for PACE and other financially at-risk healthcare organizations to support growth and optimize the care they provide to their participants. PACE is a federal program, with 250 centers located in 31 states serving a growing number of eligible Medicare and Medicaid participants.
According to Joseph Filippoli, TRHC’s Executive Vice President and Chief Information Officer, Mediture and eClusive’s transition to Tabula Rasa HealthCare will be seamless for clients. Our number one priority is to ensure that our clients see a tangible benefit from the alignment of all of these services and technology. We expect to be able to present data to our clients in a way that will provide them with insights that were not available to them before, enhancing their ability to manage their PACE organizations and improving the quality of care they provide.”
TRHC’s CareVention division also includes TRHC subsidiary Capstone Performance Systems, its Peak Health Plan Management Services division, and will offer CareKinesis’ medication risk management and pharmacy services for PACE organizations across the country.
Morgan, Lewis & Bockius LLP served as legal counsel to TRHC.
About Tabula Rasa HealthCare
TRHC (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. TRHC provides solutions for a range of payers, providers and other healthcare organizations. For more information, visit TRHC.com. Follow us on Twitter @TabulaRasaHC for up-to-date information.
Forward-Looking Statements
This press release includes forward-looking statements that we believe to be reasonable as of today’s date. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. These forward-looking statements include, among other things, our goals and expectations regarding the acquisition of Mediture and eClusive. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the risk that we may not be able to achieve our expectations for the acquisition due to challenges in integration and the inability to retain key employees; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; and the other risk factors set forth from time to time in our filings with the SEC, including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 14, 2018, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website http://ir.trhc.com or upon request from our Investor Relations Department. Any forward-looking statement speaks only as of the date on which it was made. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
Media Contact
Dianne Semingson
dsemingson@TRHC.com
T: 215-870-0829
NY Times on how Comcast is trying to change corporate healthcare (& update on Accolade)
You’ll Never Guess Which Company Is Reinventing Health Benefits (NY Times)
"It’s hard to think of a company that seems less likely to transform health care.
It isn’t headquartered in Silicon Valley, with all the venture-backed start-ups. It’s not among the corporate giants — Amazon, Berkshire Hathaway and JPMorgan Chase — that recently announced, with much fanfare, a plan to overhaul the medical-industrial complex for their employees."
After slow start, health services firm to double workforce in Scottsdale (Phoenix Business Journal)
Technology fuels growth at Accolade health venture, 3 years after Concur founders took helm (GeekWire)
Curious if Comcast might some day acquire Accolade and sell its services to others. Long shot, outside of Network & Programming model, but its looking for new niches.
Geekwire article says Accolade currently at 900 employees, including 100 at co-headquarters in Seattle. Also adding to third base in Phoenix.
Surprisingly, headcount has not grown much since the Concur guys invested in it - maybe 30%.
Edison Partners names ex-Comcast IoT guy Daniel Herscovici Partner
Edison Partners (Princeton,) has appointed Daniel Herscovici Partner .
Previously, Herscovici served as Senior Vice President and General Manager of Xfinity Home, the Comcast Home Security, Smart Home and IoT business unit. I haven't seen anything from Comcast about who will serve as his replacement.
But the move, which might be a big winner for Edison I suppose, will set off a round of speculation in the IoT world. Comcast has made several product announcements indicative of its direction recently.
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