Shegun Otulana: Difference between revisions
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In [[2004]] Otulana founded [[Zertis]], a startup that focused on evaluating the chances for long-term success of various technological products. He made Zertis his full time occupation in [[2011]]. Therapy Brands was born from that process after a friend at [[Catholic Family Services]] contacted him to research management software platforms and he saw the untapped market. The resulting product, originally named "TheraNest" by Otulana's wife, Mary, launched in [[2013]]. In [[2018]] a pair of investment funds acquired a controlling interest in TheraNest in a private transaction reportedly worth more than $500 million. Otulana was succeeded as CEO by [[Kimberly O'Loughlin]] in [[2020]]. In May [[2021]] the investment firm KKR of New York City acquired a majority stake in the company for $1.2 billion. | In [[2004]] Otulana founded [[Zertis]], a startup that focused on evaluating the chances for long-term success of various technological products. He made Zertis his full time occupation in [[2011]]. Therapy Brands was born from that process after a friend at [[Catholic Family Services]] contacted him to research management software platforms and he saw the untapped market. The resulting product, originally named "TheraNest" by Otulana's wife, Mary, launched in [[2013]]. In [[2018]] a pair of investment funds acquired a controlling interest in TheraNest in a private transaction reportedly worth more than $500 million. Otulana was succeeded as CEO by [[Kimberly O'Loughlin]] in [[2020]]. In May [[2021]] the investment firm KKR of New York City acquired a majority stake in the company for $1.2 billion. | ||
Otulana went on to found [[Harmony Venture Labs]] to support the development of new technology platforms. | Otulana went on to found [[Harmony Venture Labs]] to support the development of new technology platforms. In [[2022]] the Otulana's funded an endowed scholarship at UAB to support first-generation and/or international students pursuing degrees in science or engineering. | ||
==References== | ==References== | ||
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* Johnson, Roy S. (October 12, 2018) "[https://www.al.com/news/2018/10/family-faith-growing-up-where-everyone-looks-like-you-inspired-nigerian-tech-entrepreneurs-huge-success.html Family, faith, growing up where everyone “looks like you” inspired Nigerian tech entrepreneur’s huge success]" {{BN}} | * Johnson, Roy S. (October 12, 2018) "[https://www.al.com/news/2018/10/family-faith-growing-up-where-everyone-looks-like-you-inspired-nigerian-tech-entrepreneurs-huge-success.html Family, faith, growing up where everyone “looks like you” inspired Nigerian tech entrepreneur’s huge success]" {{BN}} | ||
* Hare, Francis (December 17, 2018) "[https://www.bizjournals.com/birmingham/news/2018/12/17/meet-the-bvc-s-jemison-awards-winner-shegun.html Meet the BVC’s Jemison Awards winner: Shegun Otulana]" {{BBJ}} | * Hare, Francis (December 17, 2018) "[https://www.bizjournals.com/birmingham/news/2018/12/17/meet-the-bvc-s-jemison-awards-winner-shegun.html Meet the BVC’s Jemison Awards winner: Shegun Otulana]" {{BBJ}} | ||
* Burchfield, Rachel (May 20, 2022) "Prominent Alums Give $1M to Support Underrepresented Students at UAB." ''UAB News''/{{BT}} | |||
{{DEFAULTSORT:Otulana, Shegun}} | {{DEFAULTSORT:Otulana, Shegun}} | ||
Revision as of 16:19, 24 May 2022
Shegun Otulana (born 1979 in Lagos, Nigeria) is an entrepreneur and founder of Therapy Brands, a practice-management software platform for behavioral health practices that was acquired by KKR for $1.2 billion in 2021.
Otulana was one of 10 children raised by his parents, both business owners, in Lagos. His older brother attended UAB as a medical student and Shegun followed in 1988, hoping to study computer engineering. Since that program was limited to graduate students, he completed his bachelor of science in engineering and management information. While in school he began consulting on software development.
In 2004 Otulana founded Zertis, a startup that focused on evaluating the chances for long-term success of various technological products. He made Zertis his full time occupation in 2011. Therapy Brands was born from that process after a friend at Catholic Family Services contacted him to research management software platforms and he saw the untapped market. The resulting product, originally named "TheraNest" by Otulana's wife, Mary, launched in 2013. In 2018 a pair of investment funds acquired a controlling interest in TheraNest in a private transaction reportedly worth more than $500 million. Otulana was succeeded as CEO by Kimberly O'Loughlin in 2020. In May 2021 the investment firm KKR of New York City acquired a majority stake in the company for $1.2 billion.
Otulana went on to found Harmony Venture Labs to support the development of new technology platforms. In 2022 the Otulana's funded an endowed scholarship at UAB to support first-generation and/or international students pursuing degrees in science or engineering.
References
- Cline, Wade (April 7, 2017) "Startup Grind Birmingham features local entrepreneur Shegun Otulana, CEO of TheraNest." Bham Now
- Thornton, William (July 25, 2018) "New York firm makes majority investment in growing Birmingham company" The Birmingham News
- Johnson, Roy S. (October 12, 2018) "Family, faith, growing up where everyone “looks like you” inspired Nigerian tech entrepreneur’s huge success" The Birmingham News
- Hare, Francis (December 17, 2018) "Meet the BVC’s Jemison Awards winner: Shegun Otulana" Birmingham Business Journal
- Burchfield, Rachel (May 20, 2022) "Prominent Alums Give $1M to Support Underrepresented Students at UAB." UAB News/The Birmingham Times