SevOne raising cash to enter Europe, Asia

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Specialist Arthur Andrews, foreground, works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

SevOne Inc., the Newark, Del., firm that tracks digital media traffic for Comcast, says Osage Ventures, the Philadelphia firm headed by Wolf Block partner turned tech, healthcare and retail investor Robert S. Adelson, agreed last week to raise "several million dollars" so "we can launch this company in our Europe, Middle East and Asia markets," says SevOne president Michael Phelan. Osage also invested in SevOne last year, along with SunGard founder John Ryan, among others.

Multinationals like Thomson Reuters and Credit Suisse already use SevOne to track employee and customer use of  their systems and equipment. Phelan says he wants to be able to support customers like them in the field, not just from his 30-person headquarters bordering the University of Delaware. 

Phelan watched the information tech market slow in 2001, and worried it could happen again this year. Instead, "we're finding healthcare, telecommunications and financial markets have a great appetite for what we do," he said. Phelan says he's competed successfully with rival applications from giants IBM and Hewlett Packard. His model is Cisco Systems during its growth years, which beat entrenched rivals in the computer-router market by "letting the customers explain what they need. We do that."

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