Concur is something of a storied technology vendor. Founded back in 1993, the company was a very early software-as-a-service (SaaS) player, tightly focused on travel and expense management. It grew to over $800 million in revenue before being acquired by SAP in 2014 for $8.3 billion. Rajeev Singh co-founded Concur and worked in the business for two decades -- in that time he covered almost every role within the business, culminating in his final role as president, COO, and director for the last nine years of his tenure.
Given that long history of obviously hard work, one would be forgiven for assuming that Singh would be happy to take a back seat and relax. That isn't the case, however, and Singh has jumped into his new thing and is today being announced as the new CEO of Accolade.
Accolade is a vendor in the healthcare space and fulfills a kind of intermediary role between large employers, payers and provider organizations. From a consumer perspective, Accolade helps users navigate the complex world of healthcare and benefits, and find the right providers for their particular situation. Accolade aims to help its customers save money while providing good outcomes for the employees.
The previous CEO, co-founder Tom Spann, will continue within the organization as vice chairman of the board and chief operating officer. On top of the appointment of Singh, Accolade is scooping up some more ex-Concur talent. Michael Hilton, another Concur co-founder, is joining the company as chief product officer while Rob Cavanaugh, another long-term Concur exec, has been named president of field operations.
It seems to be perfect timing for Accolade; healthcare technology is seeing massive awareness as the huge amounts of money being poured into Obamacare start flowing through to core systems. The complexity of the health insurance market, especially in the U.S., plays right into the hands of the company. Add to that the very obvious experience that Singh has had in building what was one of the top ten SaaS companies in the world and you have a real recipe for success.
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