Growth Equity


Harbert Growth Partners seeks to generate superior returns for our investors by identifying and investing in the most promising emerging growth stage companies in the Southeastern and Mid-Atlantic 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 HGP 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 Richmond, Virginia, Birmingham, Alabama, and Gainesville, Florida, we are well positioned to partner with entrepreneurs throughout the Southeast and Mid-Atlantic.

Investment Team

Wayne L. Hunter
Managing Partner

Wayne L. Hunter is Co-Founder and the Managing Partner of Harbert Growth Partners, as well as a Partner of Harbert Management Corporation (“HMC”). Mr. Hunter joined HMC in 2002 and currently serves on the boards of kaléo, MapAnything, Netsertive and Springbot. He previously served on the boards of Unitrends (sold to Insight Venture Partners) and Yap (sold to Amazon). Mr. Hunter also serves on the boards of the Florida Venture Forum and Venture Atlanta and previously served on the boards of North Carolina’s Council for Entrepreneurial Development and Virginia’s Center for Innovative Technology. Prior to joining HMC, he was founding Managing Director and Head of Wachovia’s (and predecessor firms First Union Securities’ and Wheat First Butcher Singer’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. During his tenure in investment banking, he advised on more than one hundred financing and M&A transactions for clients in the communications, technology, and healthcare sectors. Mr. Hunter has more than thirty 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.


Brian C. Carney
General Partner

Brian Carney

Brian Carney is a General Partner at Harbert Growth Partners. Mr. Carney joined HMC in 2007 and currently serves on the boards of Anutra Medical, Clinipace Worldwide, Envera Health, Healthcare Interactive, Social Safeguard, and WiserTogether. Mr. Carney is a board member of the Council for Entrepreneurial Development in Durham, NC and is a former Board member of the Richmond Venture Forum. Prior to joining HMC, Mr. Carney was an associate with Morgan Stanley Venture Partners where he executed healthcare 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 with honors from Washington & Lee University.


Thomas D. Roberts III
General Partner

Tom Roberts

Thomas D. Roberts III is a General Partner at Harbert Growth Partners. Mr. Roberts joined HMC in 2002 as a founding member of the HGP Investment Team. He currently serves on the boards of Cloud Elements, Iconixx, Ledbury, Mobile Posse, Sidecar Interactive, and Two Six Labs, and manages HGP’s investment in Clarabridge. He led HGP’s investments in and was a board member of Agility Healthcare (sold to GE Healthcare), JackBe (sold to Software AG) and Invincea (sold to Sophos). 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 board 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 40 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, benchmarking 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.


William W. Brooke
Senior Partner

Will Brooke

Mr. Brooke is an EVP and Limited Partner of Harbert Management Corporation, and serves as a member of the HGP Investment Committee. He serves on the board of MaxCyte, as well as Southeast BIO and the Biotechnology Association of Alabama. He formerly served as the Chair of SEBio, Innovation Depot and the Alabama Innovation Council. He has been advising earlystage companies for more than twenty years and previously served on the boards of Aldagen, Innovative Biosensors, NovaMin, Optimal Radiology, AV Holdings (Atherotech), Visador, Nationwide Homes and Emageon (NASDAQ: EMAG). As an Executive Vice President and Board member of HMC since its inception, Mr. Brooke initially served as HMC General Counsel and later as its Chief Operating Officer. Before joining HMC, Mr. Brooke served as General Counsel of Harbert Corporation. Prior to that role, he was a founder and managing partner of Wallace, Jordan, Ratliff and Brandt, a law firm in Birmingham, AL. He has been a guest lecturer on venture capital for the MBA programs at the University of Alabama, the University of Alabama-Birmingham and Birmingham-Southern College. He holds a degree in law (J.D.) and a Bachelor of Science degree in Business management from the University of Alabama.

David C. Gerstenmaier, Jr.

David C. Gerstenmaier, Jr. (also known as Chip) is an Associate with Harbert Growth Partners. Mr. Gerstenmaier joined HMC in July 2016 to assist in the areas of financial analysis, deal sourcing, portfolio company monitoring, and new investment due diligence. Mr. Gerstenmaier currently serves as a member of the TechBuzz Selection Committee for the Mid-Atlantic Venture Association (“MAVA”) and is a Mentor with Startup Virginia, a Richmond-based incubator program.  Prior to joining HMC, Mr. Gerstenmaier worked in the Investment Banking Group at BB&T Capital Markets where he participated in a variety of sell-side M&A, leveraged buy­out, and capital markets transactions across a broad range of industries including transportation, third-party logistics, and specialty distribution. Mr. Gerstenmaier holds a Bachelor of Science in Business Administration with a concentration in Finance from the Fisher College of Business at The Ohio State University.


Robert L. Crutchfield
Operating Advisor

Bob Crutchfield

Robert L. Crutchfield is a Operating Advisor to Harbert Growth Partners. Mr. Crutchfield joined HMC in September 2008 and serves as a Board Member of IngagePa­tient and WellCentive, and as a board observer for ControlScan, MaxCyte, nContact, OpenQ and WiserTogether. In addition to his responsibilities at HMC, he is a member of the Board of Directors for the Southeast Medical Device Association, the Florida Venture Forum, the Innovation Depot in Birmingham, AL, and the Atlanta Venture Forum. Mr. Crutchfield also serves as a member of the Investment Advisory Board for the Florida Institute for the Commercialization of Public Research, the Florida High Tech Corridor Council¸ is a Venture Fellow at the University of Alabama in Tuscaloosa, is a member of the Advisory Board for the STEM Path to MBA at the University of Alabama in Tuscaloosa, and is a Visiting Executive at Auburn University. Prior to joining HMC, 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 with cancer clinics in more than 440 sites of service and a physician network consisting of over 1,000 medical oncolo­gists and radiation oncologists. His division 15 was responsible for approxi­mately $2 billion of annual revenue and under his leadership the division’s EBITDA grew to over $80 million. Mr. Crutchfield was also a Senior Executive at CardinalHealth, 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, acquisitions and creating a new North American sales channel. In 1994, Mr. Crutchfield 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. Mr. Crutchfield 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. Mr. Crutchfield is a graduate of the University of Georgia and holds Bachelor of Science degrees in Political Science and Chemistry.

Investment Criteria

HGP seeks to identify and invest in emerging companies with high growth potential. We seek to invest with seasoned entrepreneurs building emerging growth stage companies with defensible positions in large and growing markets. HGP typically invests $3.0 million to $7.0 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


  • Healthcare IT
  • Healthcare Services
  • Medical Devices/Technology

Current Portfolio

Active Companies

Information Technology

Ceterus provides “done-for-you” accounting and benchmarked performance reporting solutions to small businesses and franchise owners in markets such as fitness, health and wellness, restaurants, retail, and education. Ceterus’ platform includes automated data entry, access to a professional accountant, and niche-specific financial reports and dashboards that provide business owners with valuable insights into how their business is operating month-to-month and how it compares to other franchises within the same brand family. Ceterus’ cloud-based solution, known as Edge, provides a dashboard that is custom made for a specific franchise brand or industry. The Company also offers tax planning, preparation, and filing through Ceterus Tax, enabling the Company to offer a comprehensive solution for entrepreneurs.Charleston, SC
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, VA
Cloud Elements is a cloud API management and integration service that enables developers to publish, integrate, aggregate, and manage APIs through a unified platform. Cloud Elements’ integration solution enables developers to connect entire categories of cloud services (e.g. CRM, Documents, Finance) or synchronize data between multiple cloud services (e.g. Salesforce, ZenDesk, and QuickBooks). Cloud Elements’ solution allows developer teams to focus critical resources on building proprietary solutions, rather than building and maintaining integrations to other software platforms, which, while necessary for customer satisfaction, are often costly and time consuming.Denver, CO
Iconixx Software Corporation, based in Austin, TX, provides SaaSbased Incentive Compensation Management solutions, making it a one‐stop resource to automate tracking and payment of sales commissions and other forms of variable compensation such as incentive and merit bonus plans. Iconixx provides a cost‐effective, cloudbased solution designed to empower companies to leverage incentive compensation programs to drive improved business results. The Company delivers innovative solutions for companies of all sizes and across numerous verticals around the world.Austin, TX
Two Six Labs invents, prototypes and engineers breakthrough technologies for government and industry, with broad commitments in multiple areas of technological innovation. Two Six Labs’ projects range from situational awareness interfaces for cyber operators to distributed sensor networks, to machine learning models that learn to reverse engineer malware, to embedded devices that enable and protect our nation’s warfighters.Fairfax, VA
Ledbury is a rapidly growing e-commerce shirtmaker and menswear brand. Ledbury focuses on the design and innovative marketing of luxury men’s shirts, clothing and accessories. The Company’s vertically integrated e-commerce platform is low-cost, high-margin and scalable. This model allows the brand to deliver signature quality, value and convenience to customers that is unmatched by traditional retail. Where retailers typically offer 2-4 collections a year, Ledbury offers more than 20. The Company also has the ability to test small collections, avoiding the high fashion risk of traditional retail.Richmond, VA
MapAnything provides a SaaS-based mapping and geo-analytics solution built on top of the Salesforce platform. The Company’s goal is to become the world’s leading business platform for “Where” software. MapAnything recently extended its product suite to be compatible with the ServiceNow platform, creating another large market opportunity for the Company’s products. MapAnything’s solution dramatically improves the productivity of sales and service teams in the field by providing real time geo-location, route optimization, schedule planning, territory management, and powerful analytics for sales management. MapAnything is a Salesforce Gold App Innovation Partner and a ServiceNow Technology Partner.Charlotte, NC
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, VA
Netsertive’s digital marketing intelligence platform empowers brands and local businesses to work together to win local customers. The Company’s two complementary solutions, MarketWise™ for Brands and StreetWise™ for Local Businesses, enable cooperative marketing and resource sharing between brands and their local business partners. Both are powered by Netsertive’s proprietary learning engine, which combines the Company’s deep industry experience with the collective intelligence of its extensive network of automotive, IT technology, major appliance, furniture, consumer electronics, dental and eye care clients to deliver unprecedented campaign speed, performance and value. Founded in 2009 and based in Research Triangle Park, North Carolina, 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. Netsertive was named 2014 Software Company of the Year by North Carolina Technology Association and was named among Inc. Magazine’s 500 fastest-growing private companies two years in a row.Morrisville, NC
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, GA
Sidecar Interactive develops advanced machine learning technology for retailers hungry to unlock the full potential of today’s fastest-growing online shopping channels. Specifically, the Company is a best-in-class technology provider focused on helping brands and other retailers maximize the potential return from investing in Shopping ads, one of the most rapidly growing categories of digital advertising. Sidecar’s technology considers an average of 1.2 million data points each day to analyze and index every product in a retailer’s catalog to ensure profitable revenue growth out of paid product acquisition channels such as Google Shopping, Bing Shopping, and Facebook Dynamic Ads.Philadelphia, PA
Snagajob is a human capital management (“HCM”) software company with a technology platform that assists employers in hiring, training and retaining employees. The Company’s technology platform consists of three products on the market today, On-boarding, Learning Management and Performance Management, and several other products currently in development. The Company believes a significant opportunity exists to bring an affordable HCM solution and the necessary functional and regulatory training content to the underserved small to medium-sized business market.Glen Allen, VA
Social SafeGuard enables social collaboration to create competitive advantage while overcoming regulatory compliance challenges, legal threats, and security risk exposure. Social SafeGuard is an award-winning and industry leading solution for social risk management in use by leading companies in the pharmaceutical, retail, consumer and financial services industries.Charlottesville, VA
Springbot provides an eCommerce marketing platform to small and midsized eCommerce retailers that combines the power of marketing automation and marketing analytics. The cloud-based offering integrates and simplifies the data, content, and multi-channel marketing tools (social media, online, email, etc.) eCommerce website owners need to drive more traffic, conversions, and revenue. Springbot’s platform integrates with eCommerce retailers using Magento, Shopify, and BigCommerce shopping carts to leverage marketing and purchasing behavior data to help customers grow their revenue by taking smarter, data-driven marketing actions.Atlanta, GA
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, SC
Voci offers speech recognition software that allows enterprises to make informed decisions based on actionable insights extracted from their voice data. Voci offers speech intelligence solutions that meet business requirements for customer experience, call center operations, compliance and risk management, eDiscovery, and additional transcription applications. The Company’s hardware-accelerated technology was spun out of Carnegie Mellon University in 2007. Voci’s solutions provide customers with data and insights used to: (i) prevent customer churn, (ii) optimize Quality Assurance efficiency, (iii) boost sales effectiveness, (iv) monitor employee compliance, and (v) prepare for audits and lawsuits.Pittsburgh, PA


Anutra Medical has developed a novel local anesthetic delivery system designed to reduce the time of anesthetic onset and significantly reduce pain on injection for patients. The Company’s patented system simplifies the process for buffering anesthesia and was launched initially in the dental market.Research Triangle Park, NC
Axial Exchange, 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.Raleigh, NC
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, NC
A hands-on engagement services organization, Envera Health offers a complete continuum of solutions to empower the Company’s provider partners to succeed in delivering consumer-driven healthcare. Envera Health’s solutions cover what the Company believes are primary sources of issues in healthcare: growth, access, care coordination and network development. Envera Health’s engagement services are designed to create seamless connections for providers and patients and enable the Company’s healthcare partners to succeed in balancing both clinical and financial performance. By offering a complete continuum of solutions strategically designed together with Envera Health’s partners, the Company empowers providers to deliver better, more connected care.Richmond, VA
Healthcare 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.Glenwood, MD
Kaléo 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. The Company’s first product approval, Auvi-Q™ ( (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, VA
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, MD
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.Washington, D.C.

Notable Exits

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, VA
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. Sold to Sophos in 2017.Fairfax, VA
JackBe 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, MD
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. Merged with EchoSat, a leading provider of payments security, managed firewall, and managed network solutions, in 2017.Atlanta, GA
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, NC
NovaMin 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, FL
Shipt has developed a rapidly growing technology-enabled services business powered by a proprietary app, which allows subscribers to buy groceries online, from their preferred local grocery outlet, and receive their orders in as little as one hour. The app matches Shipt shoppers with customer orders in a manner similar to the Uber model. Shipt opened its first market in Birmingham in May 2015 and is now operating in more than 60 markets throughout the Southeast, Midwest, Texas, and Arizona, and is rapidly expanding into new markets given strong demand from the Company’s grocery partners. Shipt has delivery partnerships with Costco, Whole Foods, Meijer, H-E-B, Harris Teeter, and ABC Fine Wine and Spirits.Birmingham, AL
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. Sold to Royal Philips NV in 2016.Atlanta, GA
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, NC

1210 East Cary Street, Suite 400
Richmond, VA 23219

Brenda Mustian