MSP On Deck Podcast #17: Bind Funding, HelpSystems Acquisition, Recruiters Being Recruited And Ping.MN Debuts
We start our 17th podcast episode with news of the Bind $60M Series A funding.
That’s not a round size I think anyone was expecting. Kathy walks us through her conversation with Tony Miller, CEO of Bind, and how they are trying to tackle many of the things that people do not like about health insurance including doing away with deductibles creating “on demand health insurance”. We went deeper into the Lemhi Ventures and UnitedHealth Group relationship.
Kathy and Casey nerd out on Minnesota startups that have been created out of the success of previous startups. They use the phrase “startup mafia”. They mention Definity Health and Imaginet. I suggest Net Perceptions engineers are in town but they have not created companies. Casey lists off a number of groups who have been started by former Definity Health leaders.
We shift to the acquisition of HelpSystems with a valuation of $1B+. We go through the growth of the company with their acquisition of other groups and how it has been acquired a number of times. And we also talk about how the leaders including CEO Chris Heim have been part of other groups like Amcom Software and HighJump Software.
We then find out how nerdy Casey is… he apparently knows the Glassdoor rating of HelpSystems and a number of other groups in town. As I say in the podcast, I didn’t know theirs nor most others. We do some quizzing of Casey and it’s just flat out weird that he knows Glassdoor scores.
I talk about how recruiting recruiters is very competitive in Minneapolis and St Paul and has been for more than a year. Currently I have 31 Minnesota Recruiter jobs posted on my site (a couple more than we recorded this episode). I mention how this is one way to gauge the economy and how leading up to the “Great Recession” I knew there was going to be a slowdown in the economy. No, I did not predict what actually was to come.
We spoke a bit about how companies lay off and hire around recessions. Who gets cut loose first, why contractors are usually hired first, etc.
And yes I did say, “I have a Ph.D. in CNBC”
Ping.mn has debuted as a “community-sourced technology news and events in Minnesota” site. I welcome another source of information and like that they have and are asking for contributors who are in the tech scene.
Casey drops a scoop that he is helping set up an interview on Ping.mn with the satirical Twitter account AARP Angels of MN (@aarpangelsmn). Kathy was… what’s the right word… I’m going with annoyed that she was not getting this one. This exchange alone is worth listening to the podcast. And a reminder why I like working with Kathy and Casey.
Icertis, HQ’d in Seattle, has announced they are opening an office which has me wondering how many groups have expanded to Minneapolis and St Paul. From my perspective this is clearly a growing trend of groups coming to town.
Casey wraps us up with how these groups coming to town and Icertis specifically will put pressure on groups already here who have Enterprise SaaS Sales teams.
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