Philly Tech News Quotes & Tweets 12/18/2014

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"One of the biggest things you have employee representatives that are actually on the board of directors. Think about an American board with all these external power brokers [also] actually having employees that are voted to board seats [and] they have the same vote as the external directors. You have to really have patience and the temperament to listen."

Bill McDermott, to the Philadelphia Inquirer, on being CEO of SAP SE.

SEC chair: No 'drop-dead date' for equity crowdfunding rules - Dan Primack/Fortune

Rutledge: OTT is ‘Playing With Fire’ - Tom Rutledge, CEO of Charter Communications, at UBS Global Media & Communications conference in New York.

“No venture capitalist would give us money. We raised all the money privately. I was thrown out of Sequoia three times, US Venture Capital three times,” -Marc Benioff as quoted by Business Insider.

First Round Capital Holiday Video 2014

Its here:

Links 12/17/2014: OnDeck Capital IPO, with some strong local interest, raises $200 million, rises sharply after offering

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OnDeck, a Lender to Small Businesses, Raises $200 Million in I.P.O. (New York Times)

OnDeck Capital Prices IPO Above Range As Stock Leaps (Investor's Business Daily)

Shares rose as much as 37% post-offering, valuing OnDeck at as much as $1.7 billion.
First Round Capital was an early investor in OnDeck; Sapphire Ventures (formerly SAP Ventures) participated in later rounds. Pre-IPO, SAP Ventures held about 10%, "entities affiliated with First Round Capital, 5.5%", according to

WealthCloud, LLC Closes a Seven-Figure Strategic Investment Targeted to Accelerate Growth (Business Wire)
Conshohocken-based investment management platform runs on Salesforce's cloud.

Oracle Profit, Sales Top Estimates Amid Shift to Cloud (Bloomberg)

Oracle posts stronger-than-expected Q2 earnings, revenue results (ZDNet)

2014 Year in Review: Evaluating SAP, Part II (ASUG News) Connects To Microsoft SharePoint (Information Week)

DoD releases new federated cloud procurement policy (Federal Times)

Broadcasters try to block Aereo asset sale, $90M tax transfer (Gigaom)

Time Warner Cable, Boingo turn on Hotspot 2.0 (Gigaom)

Comcast deserves a fair shake
(Inquirer OpEd/Varsovia Fernandez, president and CEO of the Greater Philadelphia Hispanic Chamber of Commerce)

Why broadband execs are telling Washington and Wall Street different things on net neutrality (Washington Post)

Analytics Showdown: Should Apps Be Simpler, Or Smarter? (Information Week)

If You Build It: The Rise Of The Mega Data Center (CRN)

Philadelphia getting another Healthcare IT headquarters; Safeguard Scientifics-backed venture

Tom Paine

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Philadelphia is getting another healthcare IT firm headquarters, and that firm is getting a new CEO, it announced this morning. 

The company is Safeguard Scientifics-backed Dabo Health, currently based in San Francisco. The design and engineering team will remain in San Francisco.

Robert V. Stanek
The new CEO is Robert V. Stanek, who is no stranger to the Philadelphia healthcare scene as he previously headed Newtown Square-based Catholic Health East, a system consisting of 35 acute care hospitals and numerous other healthcare facilities and services. It employs about 54,000

Dabo Health's previous CEO, Camilo Barcenas, will now serve as Founder and Chief Development Officer.

Safeguard has not publicly announced its investments in Dabo Health, but a company spokesperson told me by email that it had deployed a total of $1.5M in the company since November 2013, which has been reflected in its quarterly statements. That apparently represents the bulk of its financing to date, which CrunchBase shows as $2 million. (Correction: Dabo Health says it has raised approximately $8M to date.)

Currently completing a pilot project at Mayo Clinic, Dabo Health "is an innovative platform that uses a social media format to provide easy access to information and metrics that helps nurses, physicians, and front line staff have the information needed to improve quality of care," the company said in its release. “Dabo Health has developed a highly innovative and differentiated online and mobile visualization platform for providers and payers to make key performance metrics accessible and actionable, while identifying best practices to improve care quality and reduce costs,” said Mr. Stanek.

Stanek indicated that "Dabo Health will be in the position to pursue additional funding in 2015."

Dabo Health currently has approximately 20 employees. Specifically for the Philadelphia office, Dabo Health plans to ramp up to approximately 10 employees in the short-tern and grow from there. It is currently investigating multiple sites in the Greater Philadelphia area.

Veeva Systems, coming off strong quarter, announces several growth initiatives

Tom Paine

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Many analysts and would-be analysts have had little idea of what Veeva Systems (NASDAQ: VEEV) actually does, often comparing it with healthcare IT firms such as Cerner, Epic and AthenaHeath that provide hospital IT and EHR systems. But Veeva"s latest quarterly results (Q3 2015) released on November 25 gave investors more reason to take notice. Earnings were 9 cents per share, up 50% from the year-earlier quarter and beating consensus by one cent. Revenue rose 52% to $83.8 million, about $5 million above the average estimate.

Veeva also raised its revenue guidance for the full year by 3%, now from $310.7 million to $311.7 million, up from $210 million last year.

Veeva has been highly valued in some eyes (high P/E and Price to Sales ratios) and its stock has been under pressure from skeptics and shorts because of that. But the latest results were reassuring and the stock took an upward bounce.

California-based Veeva started with a CRM for Life Sciences sales & marketing built on top of Saleforce's SaaS platform, and succeeded in replacing many legacy installations from Oracle's Siebel Systems and Cegedim (whose CRM business has since been acquired by IMS Health in October). It then expanded into the R&D regulatory content management function within Life Sciences with Veeva Vault, a proprietary multi-tenant SaaS platform. Also, it introduced Veeva Network, a healthcare provider data-oriented offering.
Veeva Vault and Network combined have grown to 15% of total revenue in Q3 2015, up from slightly more than 10% in Q1. Veeva watchers see this as a key indicator of the company's long-term growth potential. Vault and Network are designed to work with Veeva CRM in an integrated manner, not as separate silos.

Veeva is of interest to people in the Philadelphia area for three reasons: Its eastern office, based in Radnor, is home to its US marketing & sales operations, serving its many life sciences customers in the Mid-Atlantic region; It also was a home base for building Veeva Network, which was facilitated by the acquisition of Fort Washington-based AdvantageMS in 2013; It is big on partnerships, and it has partnered with several of the leading Life Sciences technology companies in the area, thus becoming central to the ecosystem in the area. Its President and co-founder, Matt Wallach, is a native of the area and is based here, and Veeva has over 100 employees in the area shown on LinkedIn.

The pace of change is accelerating at Veeva, as reflected by several recent announcements by the company:

Veeva opened its first two European data centers, in Germany and in the UK. These will support growth, and make it easier to comply with local regulatory issues and lessen any concerns raised by US data security policies. In addition to supporting Veeva Vault and Network, the new data centers will also run Veeva CRM on the platform.

Veeva introduced its Veeva Network Healthcare Professional and Healthcare Organization data offering into the European market. Previously, this had been available only in the US. Veeva is delivering the Network Provider Database for the U.K. today; France, Germany, Italy, and Spain in the first half of 2015; and other markets to follow.
Tim Slevin
To lead Veeva’s rapidly expanding global data business, the company has recently appointed a team of renowned industry veterans. Tim Slevin was bought in to Run Veeva Systems’ Global Data Solutions Business. Slevin had been founder of Healthcare Data Solutions (HDS), a company with some Philadelphia connections, which was named to the INC 5000 three consecutive years, and ranking among Deloitte’s Fast 500. Guillaume Roussel and Francesca D’Angelo took the helm at the Network Data team in Europe early Q4 2014.

In addition, Vital Therapies became the latest significant Veeva Vault customer.

Links 12/16/2014: NBC launching live stream of shows; Comcast will allow Roku owners to stream HBO, Showtime

Comcast Feels Heat Over Home Hotspots (Multichannel News)

Comcast Will Finally Let Roku Owners Stream HBO, Showtime (Re/code)

NBC is launching a live stream of its shows (The Verge)


This software entrepreneur uses predictive analytics to kill cold calls (Fortune)

Unisys Names 20-Year Channel Executive Veteran As New CEO (CRN)
Was most recently CEO of Micros Systems, acquired by Oracle earlier this year for approximately $4.6 billion.

SAP Business ByDesign and the journey to HANA (Diginomica)

Rowan breaks ground on new $63M business school with goal of doubling enrollment (Philadelphia Business Journal)

Links 12/15/2014: SevOne signs STAR Campus lease

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BT Chooses EE Over O2 in $19.6 Billion Mobile Deal (Re/code)
More telecom consolidation across the Atlantic, as well.

Who Will Make Money in the IoT Gold Rush? (Sandhill)

Majesco to Merge With Cover-All (Insurance & Technology)
Cover-All Technologies is based in Morristown, NJ. Last week, Majesco acquired Agile Technologies of Bridgewater, as it attempts to build a powerhouse in P&C software.

DigitalOcean Displays 'Meteroic' Rise As Web Host (Information Week)

SAP CEO is telling a winner's story (


IT provider with Delaware roots (SevOne) signs STAR Campus lease (Delaware Online)

Microsoft’s Azure Is Starting to Close the Gap With Amazon’s Cloud Service (Gigaom)

OpenStack Is Huge In The Open-Source Cloud—But Maybe Not Huge Enough (ReadWrite)

With M&A In Mind, SurveyMonkey Snaps Up $250 Million More In Funding (TechCrunch)

Oracle Rising; Morgan Stanley Ups to Buy on Better Cloud Computing Prospects
(Barron's Tech Trader Daily)

PhillyDeals: Local firm amid an exploding wearable-technology market (

Comcast Backs Internet Measurement Hackathon (Multichannel News)

T-Mobile teases 'Uncarrier' reveal as supercharged LTE goes live in New York (PC World)
Live in Philly also.

Uber pressures regulators by mobilizing riders and hiring vast lobbying network (Washington Post)

PetSmart to Sell Itself to Investor Group for $8.7 Billion (New York Times: DealBook)
PetSmart's deal in August to acquire Plymouth Meeting-based Pet360 for $130 million plus a potential $30 million earnout was apparently for cash - at least the upfront portion - so former Pet360 equity holders don't seem to gain much by the premium paid for PetSmart.

Philly Tech People News 12/14/2014: First Round's Morgan will head advisory board to NY State venture fund; Sparta Systems' Martinson named NJBIZ Exec of the Year

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First Round Capital partner Howard Morgan will head up a voluntary advisory board for newly established $50 million venture fund for the State of New York.

Human Resources Executive Online reports that Rudy Karsan, who sold Kenexa to IBM for $1.3 billion in 2012, left IBM this summer, and is now running his own firm, Karlani Capital, which is based in Philadelphia. Philly Tech News added a few more details.

Sparta Systems' CEO, Eileen Martinson, Named NJBIZ Executive of the Year (PR Newswire)

Michael Gausling of Originate Ventures
(Keystone Edge)

Famed sports agent Leigh Steinberg partners with Philadelphia entrepreneur (Philadelphia Business Journal)

Anaplan hires SAP veteran as EVP operations (Business Cloud News)

Former SAP COO Mike Morini Joins KidoZen (The VAR Guy)

Renowned Population Health Experts Make Up Advisory Board for Intel-GE Care Innovations™ Validation Institute (Care Innovations)
Advisory Board will be chaired by David B. Nash, MD, MBA, founding dean of the Jefferson School of Population Health (JSPH) and professor of Health Policy at Thomas Jefferson University in Philadelphia.

InterDigital Principal Engineer Named IEEE Fellow (Globe Newswire)

PA SERS Board Unanimously Selects New Chief Investment Officer; Reports Investment Performance (PA SERS Press Release/pdf)

Janney Montgomery Scott Names Cliff Booth and Joe Culley as Co-Heads of Investment Banking (Business Wire)

Enradius Digital Marketing Launches Philadelphia Office (PR Newswire)

Jodi Robinson Joins Charter (Multichannel News)

Foundation poured for new Comcast tower

Around 2am this morning (or last night, depending on your perspective), the foundation for the new Comcast tower started being poured, according to Comcast-owned NBC 10. Sixteen million pounds of cement were used, delivered in 400 truckloads of concrete.

NBC 10 has photos.

See the video from NBC 10: