Venture Capital

Overview

Harbert Venture Partners seeks to generate superior returns for our investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S.

We seek to capitalize on what we believe are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities and an established entrepreneurial community. The HVP team combines substantial investment, advisory and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama, Richmond, Virginia and Gainesville, Florida, we are well positioned to partner with entrepreneurs throughout the Southeast.

Harbert Venture Partners, LLC (HVP I) held its final closing in December 2004 and invested in 13 early growth stage IT and healthcare companies across the Southeastern U.S. markets. Harbert Venture Partners II, LLC (HVP II) held its final closing in October 2009 and has invested in 11 early growth stage IT and healthcare companies. Harbert Venture Partners III, LLC (HVP III) held its first closing September of 2011 and has invested in six portfolio companies to date. In total, Harbert Venture Partners has over $200 million in committed capital and is to actively seeking new investment opportunities.

 

Investment Team

William W. Brooke
Senior Partner

Will Brooke

Mr. Brooke is one of Harbert Management Corporation’s founding shareholders, and has served on its Board of Directors since 1994. He also is as a member of the Investment Committee and Members’ Advisory Committee of the Harbinger/Aurora Venture Funds. He presently serves as a member of the Board of Directors of MaxCyte, Inc., of Rockville, MD, Innovative BioSensors, Inc., of College Park, MD, Aldagen Holdings, LLC, of Raleigh, NC and nContact Surgical, Inc., of Raleigh, NC, and has previously served on the boards of several venture and private equity-backed companies, including Emageon, Inc. (NASDAQ: EMAG), Nationwide Homes, Inc., Visador, Inc., Optimal IMX Corporation, NovaMin Technologies, Inc. and Atherotech, Inc.

Mr. Brooke joined Harbert Corporation and its affiliates as Vice President and General Counsel in August of 1991, and served as their Chief Operating Officer from 1995 until 2001. Before his employment with Harbert, Mr. Brooke was founder and Managing Partner of the Birmingham law firm, Wallace, Jordan, Ratliff and Brandt (originally, Wallace, Brooke & Byers), and an attorney with the Burr & Forman law firm in Birmingham.

Mr. Brooke has served as a visiting lecturer at the MBA and undergraduate programs at The University of Alabama, where he is a member of its Alabama Entrepreneurship Council. He is Chairman of the Alabama Innovation Council Study Commission. He is a current member and Past Chairman of the Board of each of Southeast BIO, Birmingham’s Innovation Depot, the Business Council of Alabama, and the Board of Visitors at the Culverhouse School of Business at The University of Alabama. He is a member of Leadership Alabama, the Society of International Business Fellows and is a Rotarian.

Mr. Brooke holds degrees in Business Administration (B.S., 1978) and Law (J.D., 1981) from The University of Alabama.

wbrooke@harbert.net

 

Wayne L. Hunter
Managing Partner

whunter

Wayne L. Hunter is a Managing Partner in the General Partner, as well as a member of Harbert’s Venture Capital Investment Committee. Mr. Hunter joined HMC in 2002 and serves on the boards of Intelliject, Movero, Netsertive, PeopleMatter, Racemi and Unitrends, as well as the Florida Venture Forum and Virginia’s Center for Innovative Technology and the Innovation and Entrepreneurship Investment Authority. Prior to joining HMC, he was a founding Managing Director and Head of Wachovia’s Technology Investment Banking Group. In addition, he was a member of Wachovia’s Private Equity/Venture Capital Fund Investment Committee and served on Wachovia’s Investment Banking Management Committee. He has more than twenty years of experience working with leading entrepreneurs and venture capitalists in the Southeast and Mid-Atlantic regions.

Mr. Hunter holds a degree in law (J.D.) from the University of Alabama School of Law and a Bachelor of Science degree (Economics) from Auburn University.

whunter@harbert.net

Thomas D. Roberts III
Partner

Tom Roberts

Thomas D. Roberts III is a Partner in the General Partner, and joined HMC in 2002 as a founding member of the HVP Investment Team. He currently serves on the boards of ControlScan, Invincea, and Mobile Posse and manages HVP’s investment in Clarabridge. He led HVP’s investments in and was a board member of Agility Healthcare (sold to GE Healthcare) and JackBe (sold to Software AG). He also serves as a consultant to the Office of the Secretary of Defense’s Rapid Reaction Technology Office, helping the DoD to identify promising emerging commercial technologies for the government. He is a member of the Executive Committee of the Mid-Atlantic Venture Association (“MAVA”). Before joining HMC, Mr. Roberts was a senior investment banker for Wachovia (and predecessor firms First Union Securities and Wheat First Butcher Singer), where he originated and successfully executed over forty public and private equity and M&A advisory transactions for clients in the technology, telecom and healthcare sectors. He was a founding member of First Union’s Technology Investment Banking Group. Prior to investment banking, he was with Markowitz & McNaughton, a strategy consulting firm, specializing in competitive analysis, market opportunity assessment, bench-marking and acquisition buy-side search and due diligence services for Fortune 500 clients. He holds a Master of Business Administration degree and a Bachelor of Science degree from the University of Virginia.

troberts@harbert.net

Robert L. Crutchfield
Partner

Bob Crutchfield

Bob Crutchfield is a Partner in the General Partner. Bob joined HMC in September 2008 and serves as a Board Member of Optimal Radiology, WellCentive, and RegisterPatient. He also serves as a board observer for Innovative Biosensors, MaxCyte, OpenQ and CliniPace. In addition to his responsibilities at HMC, he serves as the President-elect of the Southeastern Medical Device Association, Chairman of the Commercialization Sub-Committee for the Birmingham Business Alliance’s Economic Prosperity Committee, a member of the Steering Committee of the Alabama Obesity Institute at the University of Alabama in Birmingham, a member of the investor advisory boards for the Florida High Tech Corridor Council and the Florida Institute for the Commercialization of Public Research. He is a Venture Fellow at the University of Alabama in Tuscaloosa, is a Visiting Executive at Auburn University and is a member of the Board of Directors for the Birmingham Venture Club and the Atlanta Venture Forum. Prior to joining HVP, Mr. Crutchfield served as Senior Vice President/General Manager of the Pharmacy Services Division at U.S. Oncology, a privately held, vertically integrated cancer care provider network. The division was responsible for approximately $2 billion of annual revenue, and under his leadership the division’s EBITDA grew to over $80 million. Bob was also a Senior Executive at Cardinal Health, where he served as Vice President of New Ventures. While with Cardinal Health, he built and launched a new surgical products business unit through licensing of new technologies and the acquisition of Snowden Pencer Instrument Company. In 1994, Bob founded Surgical Innovations and Services, Inc. (SIS), a surgical laser management company. Under his leadership, SIS became a leader in the emerging outsource management sector, with over 300 hospitals and surgery centers under contract with SIS for management oversight and delivery of their surgical laser programs. In 2000, SIS merged with Surgical Laser Technologies, Inc. (SLTI) a publicly traded surgical laser-manufacturing firm. He continued as President of SIS and served as VP of Sales, Marketing and Business Development for SLTI until he exited the company following its acquisition by publicly-traded Photomedex, Inc. Bob has launched five successful new business ventures during his private and corporate career and has lead four M&A transactions. Mr. Crutchfield is a graduate of the University of Georgia and holds Bachelor of Science degrees in Political Science and Chemistry.

Brian C. Carney
Partner

Brian Carney

Brian Carney is a Partner in the General Partner. Mr. Carney joined HMC in 2007 and currently serves on the boards of Clinipace, Healthcare Interactive, Infusion Medical, OpenQ and WiserTogether. Mr. Carney has also been actively involved with other HVP investments including kaleo (formerly Intelliject), nContact, Netsertive, PeopleMatter, Register Patient and WellCentive. Prior to joining HMC, Mr. Carney was an associate with Morgan Stanley Venture Partners where he executed venture capital and growth equity investments. Prior to Morgan Stanley Venture Partners, Mr. Carney was a financial analyst in Morgan Stanley’s Healthcare Investment Banking Group. Mr. Carney holds a Master of Business Administration degree from the University of Virginia and a Bachelor of Science degree in Business Administration from Washington & Lee University.

bcarney@harbert.net

William W. Brooke, Jr.
Associate

willbrookejr1

William W. Brooke Jr. is an Associate with Harbert Venture Partners. Mr. Brooke joined HMC in July 2012 to assist in the areas of financial analysis, deal sourcing, portfolio company monitoring, investment due diligence, and market research. Prior to joining HMC, Mr. Brooke worked in the Investment Banking Groups of Morgan Stanley and Sterne, Agee and Leach where he participated in a variety of merger and acquisition, leveraged buyout, and capital markets transactions across a broad range of industries. Prior to his career in Investment Banking, Mr. Brooke was a Project Manager with Montgomery Martin Contractors, a boutique Real Estate Development and Commercial Contracting firm in Nashville, TN. Mr. Brooke holds a Master of Business Administration degree from the University of North Carolina, a Master of Science in Finance degree from the University of Alabama and a Bachelor of Arts degree in Economics from the University of Virginia.

wjrbrooke@harbert.net

John T. Voge
Senior Analyst

Lindsay B. Carlisle
Analyst

lcarlisle

Lindsay B. Carlisle is an Analyst in the General Partner. Ms. Carlisle joined HMC in 2012 to assist in financial analysis, fund marketing, investment due diligence, portfolio company tracking, and support for the Birmingham office. Prior to joining HMC, Ms. Carlisle worked as an analyst for private equity portfolio company FireRock Products where she gained experience in market and sales analysis, revenue forecasting, and portfolio company operations. She holds a Bachelor of Science degree in Commerce and Business Administration from the Culverhouse College of Commerce and Business Administration at the University of Alabama where she concentrated in Finance and Economics.

Investment Criteria

HVP seeks to identify and invest in emerging companies with high growth potential. We seek to invest with seasoned entrepreneurs building early growth stage companies with defensible positions in large and growing markets. HVP typically invests $500,000 to $4.0 million initially and continues to invest and build value through the growth of our portfolio companies. We typically seek board representation in our investments and provide constructive, strategic, operating and networking support to our portfolio companies.

We concentrate our investment focus on opportunities that, in our view, demonstrate the following characteristics:

  • Experienced management teams
  • Large and growing addressable markets
  • Recurring revenue business models
  • Scalable operating platforms

Information Technology:

  • Software
  • Communications and IT Infrastructure
  • Internet and Digital Media
  • Cyber Security
  • Financial Technology
  • Energy IT

Healthcare:

  • Medical Devices/Technology
  • Healthcare IT
  • Healthcare Services
  • Diagnostics

 

Portfolio

Active Companies

INFORMATION TECHNOLOGY

Clarabridge, Inc.Clarabridge is a leading software as a service provider of customer experience analytics software. Clarabridge’s Content Mining Platform provides marketing and operations executives access to customer sentiments by mining and exposing actionable customer experience feedback buried in text-based survey responses, web postings and support calls. The output from this platform enables companies to create more profitable offerings and develop stronger relationships with their customers.

Reston, Virginia
http://www.clarabridge.com

 

ControlScan is an emerging provider of Payment Card Industry (“PCI”) security compliance solutions focused exclusively on small- and medium-sized businesses (“SMBs”). PCI data security standards have been adopted by the major credit card brands to alleviate security vulnerabilities and protect cardholder data for all merchants that handle cardholder data. ControlScan is the only provider focused exclusively on SMB merchants, which are defined as merchants processing fewer than 1 million brand transactions. The company has uniquely tailored its services to meet SMB merchants’ needs for easily-implemented and cost-effective PCI compliance solutions.

Atlanta, Georgia
http://www.controlscan.com

 

Invincea is an innovative emerging cybersecurity anti-malware software company that has developed a patent-pending, revolutionary desktop security software suite and threat intelligence network appliance for protecting enterprise, government and home users from Internet attacks.

Fairfax, Virginia
http://www.invincea.com

 

Mobile Posse is the leading provider of next-generation mobile advertising and mCRM solutions for the active home screen. Using proprietary patent-pending technology, Mobile Posse enables advertisers, content providers and wireless carriers to proactively reach consumers through the prime real-estate on the mobile phone.

McLean, Virginia
http://www.mobileposse.com

 

Movero’s three solutions, telecom expense management, mobility management and client support services, provide enterprises control and visibility into all areas of communication expenses while lowering costs. Clients rely on Movero for its excellent service, industry expertise and comprehensive solutions, which saves them time, money and resources.

Atlanta, Georgia
http://www.moveroinc.com

 

Based in Research Triangle Park, North Carolina, Netsertive empowers product brands and local channel partners with a unified digital marketing presence to drive local sales. Their proprietary automated digital channel marketing platform harnesses the data-driven learnings of the brand-retailer network combined with deep industry knowledge to connect more qualified local customers to the channel partners of its brand clients. Netsertive takes the complexity out of digital channel marketing and enables local businesses, multi-location retailers and global brands to take the lead – by making every marketing dollar work harder and every message reach farther.

Founded in 2009, the company has a history of rapid growth, a world-class team, and the strength of venture capital funding from top firms RRE Ventures, Harbert Venture Partners and Greycroft Partners.

Morrisville, North Carolina
http://www.netsertive.com

 

PeopleMatter is a human capital management (“HCM”) software company with a technology platform that assists employers in hiring, training and retaining employees.

Charleston, South Carolina
http://www.peoplematter.com

 

Privaris develops wireless biometric authentication devices using fingerprint recognition technology. The company’s devices are small and easy to use and securely transmit an individual’s identity credentials wirelessly without compromising privacy. Privaris’ devices can overlay a biometric authentication solution onto an existing security system, requiring minimal or no additional infrastructure.

Charlottesville, Virginia
http://www.privaris.com

 

Racemi, Inc. delivers the fastest, most user-friendly server migration solution in the market, enabling businesses to move workloads between dissimilar physical, virtual, or cloud platforms in any combination or direction. For Racemi’s customers, this minimizes any unease over vendor lock-in, while enabling high availability or disaster recovery strategies that span all major providers. Racemi offers its unique and proprietary provisioning and migration through two products, Racemi DynaCenter, an enterprise software based offering, and Racemi Cloud Path, a SaaS based migration model.

Atlanta, Georgia
http://www.racemi.com

 

Unitrends specializes in data protection and rapid recovery appliances, providing business systems continuity for small and middle market enterprises. The core of the company’s solution is file-level backup/restore, Bare Metal Recovery and Block-Based Replication. The company’s software is integrated into a backup device known as a Data Protection Unit (“DPU”), which is available in a variety of form factors and storage capacities. DPU’s can be deployed locally and also replicated to an offsite vault for offsite disaster recovery.

Columbia, South Carolina
http://www.unitrends.com

 

HEALTHCARE

 

Aldagen is a biotechnology company advancing a pipeline of clinical-stage regenerative therapies. The company is developing a series of products related to the therapeutic transplantation of adult human stem cells and currently conducting Phase I/II human clinical trials targeting stroke, chronic heart failure and critical limb ischemia. Aldagen’s therapeutics are produced by a proprietary technology platform that selects potent, autologous adult stem and progenitor cells for therapeutic use.

Durham, North Carolina
http://www.aldagen.com

 

Clinipace is a global full-service digital Clinical Research Organization (dCRO) offering technology-driven clinical services to pharmaceutical and medical device companies conducting clinical trials and registries. The digital component of the Company’s service offerings, through its proprietary TEMPO software, is a key differentiator in the way it services the CRO market, and allows Clinipace to provide greater efficiency and transparency to its clients.

Morrisville, North Carolina
http://www.clinipace.com

 

Innovative Biosensors develops and manufactures rapid, portable testing systems for the detection of pathogens for the clinical infectious disease market. IBI’s CANARY biosensor technology was developed by scientists at M.I.T. and allows for the rapid detection of pathogens at previously unseen levels of sensitivity and specificity. Accurate testing results can be obtained in less than ten minutes by non-expert users.

Rockville, Maryland
http://www.innovativebiosensors.com

 

 

Kaleo logo-4 color_RGBKaléo is a pharmaceutical company dedicated to putting a new generation of life-saving personal medical products in patients’ hands. On April 3, 2014, the FDA approved EVZIO, the first and only naloxone auto-injector intended to be available for emergency administration by family members or caregivers in cases of known or suspected opioid overdose.1 The company’s first product approval, Auvi-Q™ (www.Auvi-Q.com) (Allerject™ in Canada), was licensed to Sanofi US which launched the product in early 2013. Our mission is to provide demonstrably superior medical products that empower patients and caregivers to confidently take control in potentially life-threatening situations. We believe patients and caregivers are the experts on how their medical condition impacts their lives, and are an integral part of our product development process. Each kaléo product combines an established drug with an innovative delivery platform with the goal of achieving superiority and cost effectiveness.

Richmond, Virginia
http://www.kaleopharma.com

 

MaxCyte is a clinical stage cell therapeutics company with a pipeline of product development partnerships in cell-based therapies. The company’s platform technology utilizes flow electroporation (brief pulses of electric current used to permeate cell membranes) to break down the barriers to ex-vivo cell loading and the manufacture of viral vectors.

Gaithersburg, Maryland
http://www.maxcyte.com

 

nContact is a cardiovascular medical device company that is developing a complete minimally-invasive surgical platform for treating Atrial Fibrillation (“AF”). The company’s technology uses radiofrequency (RF) ablation devices that enable active contact and engagement between flexible, conformable electrodes and cardiac tissue, providing predictable and effective cardiac tissue ablation.

Morrisville, North Carolina
http://www.ncontact.us

 

OpenQ’s solutions provide life science companies with compliant access to the medical networks of critical relationships which drive product development and adoption. The company’s solutions integrate subscription software and information to enable key medical network access activities. OpenQ’s solutions identify the networks, create plans for interaction with the network, and measure success and compliance.

Charlottesville, Virginia
http://www.openq.com

 

Optimal IMX is developing an infrastructure of participating image providers and radiologists to gather and manage diagnostic images from hospitals and clinics in a digital format and deliver them to independent radiologists for reads and diagnosis on- and off-site. Through this comprehensive on-site and teleradiology model, the company provides night-read coverage, day- and sub-specialty reads to an increasingly specialized marketplace and other services to optimize and improve the quality of radiology services for patient care in hospitals and radiology groups.

Birmingham, Alabama
http://www.optimalreadings.com

 

RegisterPatient, Inc. provides a Software as a Service (“SaaS”) based patient registration and scheduling application. The software allows a patient to electronically complete and sign all the forms required by health care providers. In addition, the software includes automatic insurance verification, automatic appointment reminders and the ability for patients to request specific appointment dates and times, request prescription refills and communicate directly with their doctor, via secure online messaging, through a physician’s website, patient portal, or Facebook page. RegisterPatient allows for one-click electronic patient referrals between affiliated health care providers and acts as a tool for patients to keep an individual personal health record that contains data, forms, information, and prescriptions across their spectrum of care.

Gainesville, Florida
http://www.registerpatient.com

 

WellCentive offers a comprehensive set of Web-based patient registry, modular Electronic Health Record (EHR) and other HIT solutions for preventive care, chronic disease management, and health information exchange programs.

Atlanta, Georgia
http://www.wellcentive.com

 

WiserTogether is an award-winning SaaS based healthcare IT company that helps patients evaluate and choose treatments that work.  The Company’s shared decision tool is a personalized, data-driven online and mobile tool that helps match patients with treatments based on patient preferences, constraints, costs and clinical evidence.  Users have better compliance and a reduction in treatment trial-error resulting in lower costs and improved outcomes.  WiserTogether sells its shared decision making platform to employers and health plans who in turn provide the product to their employees and covered plan members.

Washington, D.C.
http://www.wisertogether.com

 

Healthcare InteractiveHealthcare Interactive focuses on consuming massive amounts of healthcare data from existing systems in order to present this information, along with analytic measures, in an actionable way. Using patented technology and flexible architecture, the Company empowers insurance companies, health systems, and third-party administrators in processing complex benefit designs.

http://www.hciactive.com

 

Previous Successes

 

Agility provides business process optimization solutions targeted at hospitals and other acute care facilities. The company combines its proprietary software and implementation services with RFID and other location-tracking technologies to provide significant ROI for hospitals in transforming their enterprise patient care management and operational workflow.  Sold to GE Healthcare in 2008.

Richmond, Virginia
http://www.agilityhealthcare.com

GE Commercial Featuring Agility’s Agiletrac

Improving the Patient Experience – GE

 

JackBeJackBe delivers real-time business intelligence software that empowers organizations to create, customize, and collaborate through enterprise mashups for faster decision-making and better business results. JackBe’s Presto platform provides dynamic solutions that leverage internal and external data while meeting tough enterprise security and governance requirements.  Sold to Software AG (DAX – SOW AG) in August of 2013.

Chevy Chase, Maryland

Software AG Launches Real-Time Analytics Platform for Intelligent Business Operations and Announces Acquisition of JackBe Corporation

 

NovaMinNovaMin is establishing its proprietary oral healthcare technology as the next generation active-ingredient foundation for consumer oral healthcare and professional dental products. NovaMin addresses rapidly growing, unmet oral care needs by amplifying the natural biological defenses and repair mechanisms of the mouth.  Sold to GlaxoSmithKline in 2009.

Alachua, Florida

 

Yap creates and markets voice-enabled software that converts speech into text for multiple applications for mobile devices. For example, users can send emails, text messages, and access web services such as search, via a unified client interface on their mobile devices. Yap also offers fully automated voicemail transcription services.  Sold to a Fortune 100 technology company in 2011.

Charlotte, North Carolina

 

 

News
Contact
HARBERT VENTURE PARTNERS
RICHMOND OFFICE

1210 East Cary Street, Suite 400
Richmond, Virginia 23219
Contact:
Brenda Mustian
bmustian@harbert.net
804-782-3800

BIRMINGHAM OFFICE

2100 Third Avenue North, Suite 600
Birmingham, Alabama 35203
Contact:
Mia Haynes
mhaynes@harbert.net
205-987-5607