Market Overview

Therapy Brands Closes Investment from Lightyear Capital and Oak HC/FT to Accelerate Growth


Proven Management Team of Comprehensive Healthcare Information
Technology Platform for Mental & Behavioral Health Providers to Continue
to Drive Growth

Therapy Brands (the "Company"), a leading provider of mental and
behavioral health software, today announced a majority investment from
investment funds affiliated with Lightyear Capital LLC ("Lightyear"), a
New York-based private equity firm investing in financial services
companies, and Oak HC/FT, a venture growth-equity fund investing in
tech-enabled healthcare and financial services companies. Providence
Strategic Growth ("PSG"), Therapy Brands' previous lead investor, will
retain a significant minority investment going forward. Greater Sum
Ventures ("GSV") will also retain a minority investment going forward.
With this transaction, Lightyear becomes the Company's lead investor,
followed by Oak HC/FT, PSG, GSV and a group composed of Therapy Brands'
Founder and CEO Shegun Otulana, Chairman Ross Croley, other members of
management as well as other investors. Terms of the transaction were not

Originally founded as TheraNest in 2013, the Company has capitalized on
a number of secular macro growth trends in mental and behavioral health
markets, including heightened public awareness, expanded coverage by
insurers, outcomes-based payment and care delivery models, and the
recognition of the impact of mental health on the overall cost of care.
Therapy Brands' comprehensive information technology platform addresses
the highly fragmented and underserved practice management needs of
mental and behavioral healthcare professionals. By providing several
solutions, including practice management and electronic health records,
payments, revenue cycle management, data collection and reporting
solutions to the increasing number of practitioners and organizations in
these markets, the Company has allowed professionals in both large and
small practices to spend less time on the administrative burden of
practice management and more time treating patients, improving outcomes
and growing their businesses.

"We are excited to partner with Shegun and the management team at
Therapy Brands," said Mark F. Vassallo, Managing Partner of Lightyear.
"Therapy Brands reflects our continued focus on investing at the
intersection of financial services and healthcare. We believe the
Company is well-positioned to capitalize on the market trends in
payments and in mental and behavioral healthcare."

"Therapy Brands has built an innovative SaaS platform management
solution aimed at tackling a critical concern in mental and behavioral
healthcare: managing timely, complex tasks while delivering superior
quality of care," said Andrew Adams, Co-Founder & General Partner of Oak
HC/FT. "We look forward to working with Shegun and the Therapy Brands
team, as they roll out their technology platform to new customers and
expand reach into adjacent markets."

"We are engaged in a very significant period of expansion for the
business, having added thousands of new customers organically since we
entered the market, and we expect to continue this trend of customer
growth as practitioners migrate from manual processes and inadequate
solutions to our comprehensive software platforms," said Mr. Otulana.
"We continue to implement growth initiatives to add new customers to the
platform and provide existing customers new features and additional
functionality. In addition, we are investing in new product development
and exploring opportunities for add-on acquisitions. We are pleased to
welcome Lightyear and Oak as investors and look forward to partnering
with them as we continue to serve our customers."

About Lightyear Capital LLC

Founded in 2000, Lightyear Capital is a financial services-focused
private equity firm based in New York. Through its affiliated private
equity funds, Lightyear makes primarily control investments in North
America-based, middle-market companies across the financial services
spectrum, including asset and wealth management, banking, brokerage,
healthcare financial services, insurance, payments and processing and
specialty finance. The firm brings focus and discipline to its
investment process, as well as operating, transaction and strategic
management experience, along with significant contacts and resources
beyond capital. For more information, please visit

About Oak HC/FT

Founded in 2014, Oak HC/FT (
is the premier venture growth-equity fund investing in Healthcare
Information & Services ("HC") and Financial Services Technology ("FT").
With $1.1 billion in assets under management, we are focused on driving
transformation in these industries by providing entrepreneurs and
companies with strategic counsel, board-level participation, business
plan execution and access to our extensive network of industry leaders.
Oak HC/FT is headquartered in Greenwich, CT with offices in New York,
Boston and San Francisco. Follow Oak HC/FT on Twitter,
and Medium.

About Providence Strategic Growth

Providence Strategic Growth ("PSG") is an affiliate of Providence Equity
Partners. Established in 2014, PSG focuses on growth equity investments
in lower middle market software and technology-enabled service
companies, primarily in North America. Providence Equity Partners is a
premier, global asset management firm with $57 billion in capital under
management across complementary private equity and credit businesses.
Providence pioneered a sector-focused approach to private equity
investing with the vision that a dedicated team of industry experts
could build exceptional companies of enduring value. Since the firm's
inception in 1989, Providence has invested in more than 160 companies
and is a leading equity investment firm focused on the media,
communications, education and information industries. Providence is
headquartered in Providence, RI, and also has offices in New York and
London. For more information on PSG, please visit,
and for more information on Providence Equity, please visit

About Greater Sum Ventures

Greater Sum Ventures ("GSV") is an operationally-focused, long-term
equity investor that provides transformational capital to
growth-oriented software/SaaS, technology-enabled information services
and technology-enabled business services companies. GSV is headquartered
in Knoxville, Tennessee.

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