White House Honors Model N CEO Zack Rinat as Champion of Change
Immigrant Spirit and Diversity Critical to Model N’s Success
REDWOOD CITY, CA – May 30, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today announced that its founder and CEO Zack Rinat has been selected by the White House as a Champion of Change. As part of the Champions of Change program, the White House regularly recognizes different groups of Americans who are making positive changes in their community. Mr. Rinat was selected as one of the immigrant innovators and entrepreneurs who are helping create American jobs, grow the economy, and make the United States more competitive.
Mr. Rinat was honored at an event at the White House on May 29, where he participated on a panel, sharing his past work experiences as well as challenges and opportunities he has encountered since coming to the United States from Israel. “As I look back at my career as a successful entrepreneur, my background as an immigrant has enhanced every important decision I have made. I came to the United States eager to disrupt the status quo and take advantage of the vast educational opportunities, the open business climate, and the exceptional diverse workforce in order to build a successful company,” said Zack Rinat, founder and CEO of Model N.
Mr. Rinat’s background as an immigrant helped him identify issues that global companies face, resulting in new business opportunities and technology innovations. For example, Model N pioneered a new technology category of Revenue Management, which allows customers to improve revenue performance across the globe.
“We realized that our customers needed a way to better manage how revenue is collected and accounted for, ultimately allowing them to recoup billions of dollars annually,” Mr. Rinat said. “In building this company, I have built relationships with others who shared my vision, many of whom also come from immigrant backgrounds. This spirit contributes greatly to the culture of our company. To me this award is really for the customers, partners, and employees of Model N. They are the true champions of change.”
Mr. Rinat served as a company commander and Captain in the Special Forces of the Israeli Defense Forces. After graduating from the Technion (Israel Institute of Technology), Mr. Rinat built complex systems in Israel. Mr. Rinat immigrated to the United States when he was 30 years old. Upon being accepted at Harvard Business School, Mr. Rinat moved to Boston with his family, bringing only a few suitcases between them. Mr. Rinat made this decision as he felt the United States offered the best foundation for entrepreneurship.
Prior to Model N, Mr. Rinat co-founded and ultimately served as President and Chief Executive Officer of NetDynamics, Inc., an application server software company, before its acquisition by Sun Microsystems in 1998, where he served as the Vice President and General Manager of the NetDynamics business unit. From 1998-1999, Mr. Rinat served as a founding member of the Board of Directors of TradingDynamics, a provider of a B2B Auction Platform until its acquisition by Ariba. From 2005 to 2012, he also served on the Board of Directors of Conduit Ltd., a provider of cloud-based solutions for web publishers, and as the Chairman of the Board of Directors from 2005 to 2011. Previously, Mr. Rinat held senior management positions in operations, marketing, and engineering at Silicon Graphics, Inc., and at Advanced Technology Israel. He holds an MBA from Harvard Business School and a BA in computer science from the Technion (Israel Institute of Technology).
About Model N
Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.
Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.