Business: Sentillion provides standardized software for healthcare information systems, which enable visual integration of healthcare applications at workstation.
Headquarters: Andover, Mass.
VC raised to date: $29.45M
Capital raised one year ago: $18M
Investors: Dresdner Kleinwort Capital, First Consulting Group Inc., Intersouth Partners, Merrill Lynch Capital Partners, Newbury Ventures, Polaris Venture Partners, St. Paul Venture Capital, Universal Health Services Inc.
Plans one year ago: Sentillion had 40 customers and planned to use its fresh capital to expand its marketing efforts in the healthcare space and to add sales personnel to its staff of 45.
Status: After a particularly good Q3, Sentillion boasts 50 customers, with more customers expected to be announced in the near future, says Robert Seliger, Sentillion’s president and chief operating officer. The company remained focused on the healthcare industry and was successful in selling its product to smaller community hospitals as well as big multiple facilities hospitals. Recently, Sentillion has put a lot of effort into expanding into government-run hospitals.
Sentillion sells its product two ways: For a onetime licensing fee and on a subscription basis. Unlike previous years, when the two sales points were equally as popular, this year Sentillion sold four times more licensing agreements than subscriptions. Additionally, as Sentillion enhanced the product line, it also started to sell additional products to its existing customers.
Sentillion expanded its sales department, bringing in the total payroll to 50 employees. The company expects to reach cash flow breakeven in 2003. However, Sentillion may still raise another round of private equity financing in12 to 18 months, if the company chooses to expand into other industries.