Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DRAPER TIMOTHY C
   2. Issuer Name and Ticker or Trading Symbol
ATHENAHEALTH INC [ATHN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2882 SAND HILL ROAD, SUITE 150		 3. Date of Earliest Transaction (Month/Day/Year)
09/25/2007
(Street)

MENLO PARK, CA 94025		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/25/2007   C   3,684,300 A $ 0 3,684,300 I By Draper Fisher Jurvetson Fund VI, L.P. (1)
Common Stock 09/25/2007   C   268,716 A $ 0 268,716 I By Draper Fisher Jurvetson Partners VI, LLC (2)
Common Stock 09/25/2007   C   8,597 A $ 0 8,597 I By Draper Associates, L.P. (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series C preferred stock (4) 09/25/2007   C     1,992,857 09/25/2007   (5) Common Stock 1,992,857 (4) 0 I By Draper Fisher Jurvetson Fund VI, L.P. (1)
Series C preferred stock (4) 09/25/2007   C     150,000 09/25/2007   (5) Common Stock 150,000 (4) 0 I By Draper Fisher Jurvetson Partners VI, LLC (2)
Series D preferred stock (4) 09/25/2007   C     1,509,741 09/25/2007   (5) Common Stock 1,509,741 (4) 0 I By Draper Fisher Jurvetson Fund VI, L.P. (1)
Series D preferred stock (4) 09/25/2007   C     113,636 09/25/2007   (5) Common Stock 113,636 (4) 0 I By Draper Fisher Jurvetson Partners VI, LLC (2)
Series E preferred stock (4) 09/25/2007   C     181,702 09/25/2007   (5) Common Stock 181,702 (4) 0 I By Draper Fisher Jurvetson Fund VI, L.P. (1)
Series E preferred stock (4) 09/25/2007   C     5,080 09/25/2007   (5) Common Stock 5,080 (4) 0 I By Draper Fisher Jurvetson Partners VI, LLC (2)
Series E preferred stock (4) 09/25/2007   C     8,597 09/25/2007   (5) Common Stock 8,597 (4) 0 I By Draper Associates, L.P. (3)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DRAPER TIMOTHY C
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
Draper Associates, Inc.
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
DRAPER ASSOCIATES L P
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
Draper Fisher Jurvetson Fund VI, L.P.
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
Draper Fisher Jurvetson Management Co. VI, LLC
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
Draper Fisher Jurvetson Partners VI, LLC
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
Fisher John H N
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    
Jurvetson Stephen T
2882 SAND HILL ROAD
SUITE 150
MENLO PARK, CA 94025		     X    

Signatures

 /s/ Christopher E. Nolin Attorney-in-Fact for all Reporting Persons   09/25/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares held by Draper Fisher Jurvetson Fund VI, L.P. Draper Fisher Jurvetson Management Co. VI, LLC is the general partner of Draper Fisher Jurvetson Fund VI, L.P. and disclaims beneficial ownership except to the extent of its pecuniary interest therein. The Managing Directors of Draper Fisher Jurvetson Management Co. VI, LLC are Timothy Draper, John H.N. Fisher and Stephen T. Jurvetson. Messrs. Draper, Fisher and Jurvetson disclaim beneficial ownership except to the extent of any pecuniary interest therein.
(2) Shares held by Draper Fisher Jurvetson Partners VI, LLC. The Managing Members of Draper Fisher Jurvetson Partners VI, LLC are Timothy Draper, John H.N. Fisher and Stephen T. Jurvetson. Messrs. Draper, Fisher and Jurvetson disclaim beneficial ownership except to the extent of any pecuniary interest therein.
(3) Shares held by Draper Associates, L.P. Timothy Draper is the President of Draper Associates, Inc., which is the general partner to Draper Associates, L.P. Mr Draper has sole voting and investment power over the shares owned by Draper Associates, L.P. Mr. Draper disclaims beneficial ownership except to the extent of his pecuniary interest therein.
(4) These shares automatically converted into common stock on a one-for-one basis upon the closing of the Issuer's initial public offering of common stock.
(5) The preferred stock has no expiration date.

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