Philly Enterprise Software highlights – June 26; Accolade, QLIK, Anexinet

Healthcare tech company Accolade plans to double headcount in Seattle with a new HQ office, reports Seattle tech pub GeekWire.

“We’ve outgrown our Convention Center space and need room to grow — and not arm-wrestle over meeting rooms!” Accolade CEO Raj Singh told GeekWire in an email

Singh gave no indication of changing the ‘co-headquarters’ arrangement existing between its Philly location and Seattle.

Singh, who was one of the winners of EY’s Entrepreneur of the Year award for the Pacific Northwest region last week, gave no direct answer to the question of whether Accolade was looking towards an IPO.

Citing Pitchbook as its source, GeeekWire said the company has raised more than $200 million to date and commands a valuation of around $620 million

QLIK

A story by Bloomberg today detailed how King of Prussia-based Qlik’s acquisition Attunity .(closed in May) left over a terabyte of data, much of it sensitive, open for public viewing on AWS servers . Ford and TDBank data, as well as extensive Attunity internal data, was on the server.

We’ll see how that story plays out, but last month QLIK held its annual QLIK Qonnections user conference in Texas. David Menninger, analyst at Ventana Research (and another Penn grad), said Qonnections emphasized QLIK’s shift to a SaaS-first approach, as well as its Attunity and Podium Data acquisitions. Read and listen to Menninger’s analysis:

https://davidmenninger.ventanaresearch.com/qliks-shift-to-saas-at-qonnections-2019

Now that Tableau has been taken off the market, its financials will be harder to follow, as QLIK’s have been since it was taken private. Although QLIK did disclose that it paid $560 million for Israel-based Attunity.

Though I did like this QLIK vs Tableau product comparison:




Anexinet

Blue Bell-based computer services firm Anexinet was acquired by Mill Point Capital, a relatively new New York middle market buyer. It was acquired from Marlin Equity, a large SaaS & systems PE firm that recapped Anexinet in 2014. Marlin usually hopes to be in a position to find a larger buyer to exit to.

Part of Anexinet’s strategy was to expand its geographic footprint beyond the Philly/mid-Atlantic region and enter new verticals. I’m not sure how far that has progressed. The press release, for what its worth, didn’t say anything to get excited about, and lacked any comment from Marlin.

But I ‘m not drawing any conclusions.