Fundraising FoxGray Ventures
Venture capitalAtlanta · Seed–Late Stage · 3 people tracked
Find your way into Gray Ventures
Investment thesis
Gray Ventures is a private investment company founded in 1991 to support entrepreneurialism in the U.S. Southeast. Its earlier funds (I & II) backed pre-revenue IT companies around Atlanta and North Carolina's Research Triangle Park, all led by first-time founders. Gray Ventures III operated as a fund of funds supporting early-stage venture funds across the Southeast in IT and healthcare, and was a principal backer of the Georgia Tech-affiliated Flashpoint accelerator. Launched in 2022, Gray Ventures IV invests in seasoned entrepreneurs building disruptive solutions for large, dynamic markets, focusing on early-stage software companies with clear competitive advantages—specifically B2B SaaS models serving IT, telecom, and tech-enabled industries, exclusively in the southeastern U.S.
Source: firm website, verified Sep 27, 2026.
Team · 3 people
from the firm's website & public directories
What they invest in
from 40 of 95 portfolio companiesSaaS ×28Enterprise Software ×17AI & Machine Learning ×16Fintech ×7Cloud Computing ×6Developer Tools ×5Data & Infrastructure ×4Healthtech ×4
HQs:United States×36
Who they back
founder profiles across 23 portfolio companiesFounding team size:solo founder×172 founders×43 founders×2
Where their founders studiedfrom 15 founders with education data
Georgia Institute of Technology ×4Purdue University ×3
What their founders studiedfrom 14 founders with field-of-study data
Computer Science ×7Engineering ×4Business & Management ×3Finance & Accounting ×2
Where their founders worked beforefrom 17 founders with career history
Georgia Institute of Technology ×2
Investments · 95 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 22024 · 12023 · 22020 · 12018 · 32016 · 12014 · 12012 · 113 dated
AchieveIt provides strategy execution and performance management software that connects plans, people, and data into a single platform so organizations can build plans, automate progress updates, track results in real time, and report on outcomes.
Enterprise SoftwareGovTechSaaS
Co-investorsBIP VenturesTech Square Ventures
Adwerx provides automated digital advertising solutions for real estate professionals including agents, loan officers, and brokerages to build brand recognition and attract local buyers and sellers through targeted campaigns.
AdTechMarketing TechPropTechDurham, US
Edward J. Carlson(Chief Executive Officer, Secretary and Treasurer)Liz Shih(Chief Financial Officer)
BoardA.G.W. Biddle(Director)Jonathan Perl(Director)inDavid Spitz(Director)
Co-investorsAlerion VenturesGrotech VenturesNovak Biddle Venture PartnersSavano Capital PartnersBull City Venture Partners
Provides cybersecurity compliance software that unifies security processes, tracking, and reporting across multiple frameworks.
Atlanta, US
Jacob Ferro(Director)
BoardMike Dowdle(Director)inArmistead Whitney(Executive Officer, Director)in
Co-investorsCircadian VenturesGRA VentureMainsail Partners
AVOXI provides cloud-based voice and communications services with an international footprint.
Cloud ComputingEnterprise SoftwareSaaSAtlanta, US
Greg Buckalew(Senior Vice President of Operations)inBarbara DondiegoinDavid Wise(Executive Officer, Director)Wain Kellum(Director)Weston Edmunds(Executive Officer, Director)in
Co-investorsSavano Capital PartnersBallast Point Ventures
Beam Dynamics provides a cloud-based platform for managing assets, licenses, and vendors, with tools for scheduling, maintenance, ticketing, and integrated manufacturer data.
Enterprise SoftwareMedia & EntertainmentSaaS
David Kaszycki(Founder)inRyan DeMars(Founder)in
Co-investors100Km Ventures LlcCharlotte FundPrimordial Ventures
BitPay provides enterprise-grade tools for cryptocurrency acceptance and spending, enabling businesses and individuals to send, receive, and store digital currencies.
ConsumerCrypto & Web3Fintech
Stephen Pair(Founder)in
Co-investorsAltai VenturesAquiline Technology GrowthDelta-v CapitalDigital Currency GroupG SquaredIndex Ventures+7 more
Carbice manufactures aligned carbon nanotube-based thermal management products for aerospace, defense, and industrial power applications.
Advanced ManufacturingDeep TechEnergyNew MaterialsAtlanta, US
Baratunde Cola(CEO & Founder)inSuresh Sharma(Executive Officer, Director)Craig E Green(Executive Officer)in
BoardSebastine Ujereh, Jr.(Director)
Co-investorsGRA VenturePortfoliaStarbridge Venture Capital LlcBraemar Energy VenturesToyota Ventures
CodeGuard provides automated website backup and monitoring, allowing users to keep their sites safe and restore them when needed.
Cloud ComputingCybersecuritySaaSAtlanta, US
Jonah Stein(Executive Officer)David Moeller(Executive Officer, Director)Jonathan Hochman(Executive Officer)
BoardI. Sigmund Mosley, Jr.(Director)Palaniswamy Rajan(Director)Matthew Chanoff(Director)
Co-investorsAtlanta Technology Angels
Codoxo builds a generative AI-driven Unified Cost Containment Platform for healthcare payers, government agencies, and pharmacy benefit managers to improve payment integrity and detect fraud, waste, and abuse.
AI & Machine LearningHealthtechSaaS
Musheer Ahmed(CEO & Founder)in
Co-investorsBrewer Lane VenturesEcho Health VenturesGRA VentureQED InvestorsService Provider CapitalWipro Ventures+3 more
Crunchy Data provides a certified, enterprise-grade distribution of the open source PostgreSQL relational database, bundled with security, high availability, backup/restore, monitoring, and administration tooling.
Cloud ComputingData & InfrastructureDeveloper ToolsEnterprise Software
Co-investorsAlsop Louie PartnersHeavybitService Provider Capital
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Cypress provides a testing framework and automation tools for developers to build and test web applications more efficiently and reliably.
AI & Machine LearningDeveloper ToolsSaaSAtlanta, US
Randall Kent(Executive Officer, Director)inBrian Mann(Executive Officer, Director)in
BoardBlake Patton(Director)in
Co-investorsBattery VenturesBessemer Venture PartnersBLH Venture Partners, LLCLas Olas Venture CapitalMayfield FundOpenView Venture Partners+3 more
Excel Health Primary Care is a primary care medical practice based in Atlanta.
Digital HealthHealthtechWellness & FitnessAtlanta, US
Ian Juliano(Executive Officer, Director)
Fastbreak provides AI software for sports league scheduling, tournament management, event operations, ticketing, travel, and brand sponsorship activations.
AI & Machine LearningSaaSSports Tech
John Stewart(Founder)inChris Groer(Founder)inTimothy Carnes(Founder)in
Co-investorsCharlotte FundEarly Light VenturesGTMfundNexus BayGreycroftNEXT PLAY CAPITAL
Florence builds technology for managing and running clinical trials, serving research sites, sponsors, and healthcare institutions in the life sciences industry.
AI & Machine LearningDigital HealthHealthtechSaaSAtlanta, US
Ryan Jones(Executive Officer, Director)inAndres Garcia(Executive Officer, Director)in
BoardPeter Sobiloff(Director)inGarrett Goldberg(Director)inJon Rosenbaum(Director)Jeffrey Muir(Director)in
Co-investorsBaleon CapitalBee PartnersFulcrum Equity PartnersService Provider CapitalBessemer Venture PartnersInsight Partners
FSLogix provides software that manages Windows user profiles in virtual desktop environments, letting user data roam between session hosts, reducing sign-in times, and simplifying gold image management.
Cloud ComputingEnterprise SoftwareSaaSSuwanee, US
Randy Cook(Executive Officer, Director)Kevin Goodman(Executive Officer, Director)
Co-investorsAlerion VenturesNoro-Moseley Partners
Illoominus provides workforce planning and analytics software that helps HR and finance teams model hiring, attrition, and organizational changes while automating reporting and workforce insights.
AI & Machine LearningData & InfrastructureEnterprise SoftwareHR TechSaaSAtlanta, US
Noelle London(Founder)in
Co-investorsTechstarsTeam Ignite
Intellectible is an automation platform for document-heavy, complex business processes, combining AI and SaaS expertise to handle high-stakes workflow execution.
AI & Machine LearningEnterprise SoftwareGovTechSaaSAustin, US
Jesse Lozano(Founder)inReuben Carter(Co-founder & CTO)inRosie Higgins(Co-founder & CPO)inArmistead Whitney(Director)in
Co-investorsAllied Venture PartnersBread And Butter Ventures, LlcCapital FactoryCircadian VenturesTechstarsBread Butter Ventures+2 more
Atlanta, US
Adam Ghetti(Founder)Steve Abbott(Executive Officer, Director)in
BoardTed Schlein(Director)Thomas E. Noonan(Director)Philip Dunkelberger(Director)
Co-investorsGV (Google Ventures)Icon VenturesKleiner PerkinsSpider CapitalTen ElevenBallistic Ventures+2 more
MacStadium provides Mac mini servers to developers of free and open-source projects for Apple platforms including macOS, iOS, tvOS, and watchOS.
Cloud ComputingDeveloper ToolsEnterprise SoftwareAtlanta, US
Michael L Oken(Executive Officer, Director)Michael Landreth(Executive Officer)inGregory P. McGraw(Executive Officer, Director)
BoardR. Will Brooks(Director)Jeffery A. Jones(Director)
Co-investorsNoro-Moseley PartnersSummit Partners
Salesforce Maps (formerly MapAnything) offers location intelligence solutions leveraging mapping and optimization to boost sales and service productivity.
Co-investorsGPO FundGreycroftLighter CapitalNelstone Ventures
Opine builds AI agents that consolidate scattered deal context and product knowledge into real-time deal intelligence for technical sales teams.
AI & Machine LearningSaaSSales TechDurham, US
Akash Ganapathi(Founder)inCharlie Duong(Executive Officer, Director)Austin Kelleher(Executive Officer, Director)
Co-investors100Km Ventures LlcKnoll VenturesPrimordial VenturesPropel Venture PartnersS3 VenturesPrimordial
Develops and manufactures Carrier Ethernet Edge and Aggregation Systems for business services and mobile backhaul.
Co-investorsQuestMark PartnersTenaya CapitalHorizon Technology FinanceIntel Capital
Payzer builds an all-in-one software platform for trade contractors covering payments, financing, and business operations from initial customer contact through final payment.
Construction TechEnterprise SoftwareFintechSaaSCharlotte, US
Joe Giordano(Founder)inDouglas Little(Executive Officer)Thomas McCulley(Director)Mark E McDowell(Director)in
BoardBenjamin Britt(Director)inDon Rainey(Director)in
Co-investorsAlerion VenturesCharlotte FundElevate Innovation PartnersGrotech VenturesIDEA Fund PartnersRoute 66 Ventures+2 more
Pendo is a product experience platform that combines software usage analytics, in-app guidance, and user feedback to help organizations accelerate feature adoption and deliver better product experiences.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaSRaleigh, US
Saurabh Sodani(Founder/CEO)inTodd Olson(Executive Officer, Director)inErik Troan(Director)inChuck Kesler(Chief Development Officer)inSheena Jain(Chief Information Security Officer)inZain Lakhani(Chief AI Officer)in
Co-investorsArray Ventures Management LlcB Capital GroupB4 CapitalBattery VenturesBonfire VenturesContour Venture Partners+12 more
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Pindrop is a cybersecurity company that delivers identity verification and deepfake detection across voice, video, and digital communications in real time.
AI & Machine LearningCybersecurityEnterprise SoftwareAtlanta, US
Paul JudgeinMustaque AhamadinVijay Balasubramaniyan(Founder)in
BoardScott Weiss(Director)Somesh Dash(Director)in
Co-investorsAllegion VenturesAndreessen HorowitzAtlanta Technology AngelsBling CapitalCapitalGCerity Partners Ventures+17 more
Pitchit provides industry-specific AI voice agents that answer inbound calls, texts, and web inquiries to qualify leads, triage emergency service calls, and book appointments 24/7.
AI & Machine LearningSaaSSales Tech
Co-investorsSilicon Road VenturesAlchemist Accelerator
PlayOn Sites is a website platform for schools that integrates athletic programming, streaming, ticketing, and scheduling into a unified hub for athletic directors, coaches, and fans.
Media & EntertainmentSaaSSports Tech
David Rudolph(Founder)in
Co-investorsBIP VenturesDisney AcceleratorBIP CapitalCrossover
Orlando, US
Heath Hensley(Executive Officer)inCraig Petersen(Executive Officer, Director)inJoshua J. Brown(Executive Officer, Director)in
BoardRobert Faber(Director)in
Co-investorsBallast Point Ventures
ProctorU is an online exam proctoring platform, now part of Meazure Learning, that lets test-takers schedule and take remotely monitored exams.
EdTechSaaSHoover, US
Jarrod Morgan(Director)inErin Donald Kassner(Executive Officer)Scott McFarland(Executive Officer, Director)in
BoardRamsay Battin(Director)Benjamin Cobb(Director)inPaul Reaves(Director)
Co-investorsBonaventure CapitalNew Capital PartnersEastside Partners
QuantHub provides an AI fluency curriculum for K-12 schools, higher education institutions, and corporate workforce training, covering topics like AI, data visualization, analytics, machine learning, and responsible/ethical AI.
AI & Machine LearningEdTechFuture of WorkBirmingham, US
Joshua Nathanael Jones(Executive Officer)Matt Cowell(Executive Officer)Nathan Black(Executive Officer)
Co-investorsFlorida Funders
Atomic Red Team is an open source, community-maintained library of small security tests mapped to the MITRE ATT&CK framework, letting security teams validate their ability to detect threats across Windows, macOS, Linux, and cloud environments.
Cloud ComputingCybersecurityDeveloper ToolsSterling, US
Brian Beyer(CEO)in
BoardFrank Mendicino(Director)inAlan Taetle(Director)inW Daniel Hall(Director)
Co-investorsAccess Venture PartnersNoro-Moseley PartnersSavano Capital PartnersService Provider CapitalSummit PartnersAccess Ventures
Reveal Mobile provides out-of-home (OOH) advertising campaign measurement, offering a self-serve platform with real-time analytics, brand lift studies, and foot traffic attribution for advertisers and OOH brands.
AdTechData & InfrastructureMarketing TechSaaSRaleigh, US
Brian E. Handly(Executive Officer, Director, Promoter)
BoardDavid Jones(Director)inJonathan Frangakis(Director)James F. Goodmon, Jr.(Director)Edward C. McCarthy(Director)Lister Delgado(Director)in
Co-investorsAlerion VenturesBull City Venture PartnersElevate Innovation PartnersWolfpack Investor NetworkIDEA Fund Partners
RoadSync provides digital payment and accounts payable software for the transportation industry, focused on heavy truck repair shops, towing companies, and vendors.
FintechLogistics & Supply ChainSaaSAtlanta, US
Robin Gregg(CEO)inMatthew Chanoff(Director)Lansing Tyler Scriven(Director)
Co-investorsBLH Venture Partners, LLCCircadian VenturesClocktower VenturesCompanyon VenturesEQUIAMExcelestar Ventures+8 more
Maxio (formerly SaaSOptics and Chargify) is a subscription management platform that automates billing, revenue and expense recognition, and SaaS metrics reporting for B2B SaaS companies.
Enterprise SoftwareFintechSaaSNorcross, US
Anthony David Ryan(Executive Officer, Director)Timothy McCormick(Executive Officer, Director)
BoardJeffrey Muir(Director)John Alston Gardner(Director)
Co-investorsDuke Capital PartnersFulcrum Equity PartnersBattery Ventures
JAGGAER (at sciquest.com) offers an AI-powered source-to-pay and procure-to-pay procurement platform that unifies sourcing, contracts, spend management, eProcurement, invoicing, payments, and supplier intelligence.
AI & Machine LearningEnterprise SoftwareSaaS
Co-investorsTensility Venture Partners
ShelfCycle is an AI-native ERP and CRM platform for chemical distribution, combining orders, inventory, blending and repackaging, hazmat compliance documents, freight, and a double-entry general ledger in one system.
AI & Machine LearningEnterprise SoftwareSaaSNew York, US
Michael Harrison(Executive Officer, Director, Promoter)inLiam Buchanan(Founder)in
Shipt operates a same-day delivery platform that connects consumers with personal shoppers who fulfill orders from retailers including Target, Lowe's, CVS, and regional grocers.
E-commerceLogistics & Supply ChainMarketplacesRetail TechBirmingham, US
BILL I. SMITH(Executive Officer, Director)in
BoardROBERT L. CRUTCHFIELD(Director)STEVEN STREIT(Director)inWILLIAM E. SAUNDERS(Director)JEFFREY L. SMITH(Director)
Co-investorsFUSEGreycroftHeadlineHeadline Growth Management, LLCSWS Venture CapitalGreycroft Partners+1 more
ShopKeep is a point-of-sale platform for retailers and restaurants, now fully integrated into Lightspeed as Lightspeed POS (S-Series).
FintechRetail TechSaaS
Co-investorsActivant CapitalCanaan PartnersContour Venture PartnersNew Ground VenturesTribeca Venture PartnersSalesforce Ventures+1 more
Acoustic is a marketing platform that helps lifecycle marketers understand consumer intent and execute campaigns faster through an Intent-Driven Model powered by first-party behavioral data and AI.
AI & Machine LearningEnterprise SoftwareMarketing TechSaaS
Co-investorsATEL VenturesAtlanta Technology AngelsEscalate Capital PartnersWolverine Venture Fund
Simnovus develops simulation and emulation tools for validating 5G radio access networks, serving telecommunications and network operators through software-based testing platforms.
AI & Machine LearningDeep TechDeveloper ToolsEnterprise SoftwareCary, US
Sunil Kalidindi(Executive Officer)inSaurav Jha(Executive Officer, Director)Uday Parida(Executive Officer, Director)
BoardBernard Gray(Director)Jitin Dhanani(Director)Rohan Chitradurga(Director)
Linnworks provides a platform that connects inventory, orders, warehouses, listings, and shipping carriers across 100+ marketplaces and sales channels, keeping stock levels synced and automating order routing and fulfillment.
E-commerceRetail TechSaaSLouisville, US
Thomas Andrew Eastes(Chief Executive Officer)Svyatoslav Ivanyuk(Chief Technology Officer)
Co-investorsPoplar VenturesBallast Point VenturesEndeavor Catalyst
Fisher Investments is a global money management and financial advisory firm that provides portfolio management, financial planning, and retirement planning services primarily to high-net-worth individuals and institutional clients.
ConsumerFintechMarketplacesSaaSNew York City, US
Michael Carvin(Founder/CEO)in
Co-investorsContour Venture PartnersEvolution VC PartnersFitz Gate VenturesIA Capital GroupJavelin Venture PartnersNew York Life Ventures+8 more
Spoonflower is an online marketplace that produces made-to-order fabric, wallpaper, and home decor featuring designs created by independent artists worldwide.
ConsumerE-commerceMarketplaces
Gart Davis(Founder)in
Co-investorsBull City Venture PartnersIDEA NC
Atlanta, US
Adam Mangone(Executive Officer)Aaron Aycock(Executive Officer, Director)
BoardAshish Mistry(Director)inMark Buffington(Director)inGlen Caruso(Director)
Co-investorsBIP VenturesBLH Venture Partners, LLCTech Square VenturesBIP Capital
Worth offers a platform that consolidates business onboarding and underwriting into a single workflow, automating KYB, KYC, fraud verification, and financial checks using AI and a database of over 350M SMBs.
AI & Machine LearningFintechSaaSOrlando, US
SALMAN REHMETULLAH(Executive Officer, Director)SUNEERA MADHANI(Executive Officer, Director)inJACQUES FU(Executive Officer, Director)in
BoardJAMES DOUGLASS(Director)ROBERT WECHSLER(Director)ASIF RAMJI(Director)
Co-investorsFlorida FundersFulcrum Equity PartnersIngeborg InvestmentsAmerican Express Ventures (Amex)Amex VenturesTTV Capital
YPrime provides a clinical trial technology platform with patient engagement features (eConsent and eCOA) designed to accelerate trial timelines, improve data quality, and enhance participant experience for pharmaceutical companies, biotechs, and contract research organizations.
BiotechDigital HealthEnterprise SoftwareHealthtechMedical DevicesSaaSMalvern, US
Jaime Cook(Executive Officer, Director)inShawn Blackburn(Executive Officer, Director)in
BoardMatthew Rice(Director)inElizabeth Tallett(Director)Richard Gastineau(Director)Paul Blake(Director)
Co-investorsFlexpoint FordTopmark PartnersBallast Point Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AccipiterAcivilateAuthentricsBarkBluebolt NetworksCeterusChutney TechnologiesCodoxoCognitechCovendisDemand DrivenDropoffEGTElectrifierEndgameExtensibilityFeaturespaceFraudscopeGanymedeGreenlightGro SolutionsinMotionNowInsurance ZebraJouleXJvionLabLogsLiveWire LogicLysisMediaoceanMicroMass CommunicationMonorailNuTEQ SolutionsOpsCanvasOrologicPlurimusPrepaid TechnologiesQASymphonySecond NatureServigisticsSift MediaSofnetSPI DynamicsSpiffySpringbotSynchrologicTrendkiteVitelisVocalocityZVerse
Exits · 4
4 acquisitions · showing 2Portfolio news
latest coverage across their companiesCodoxo website · codoxo.com · Dec 19, 2025
Illoominus · illoominus.com · Jun 18, 2025
Frequently asked questions
- How many investments has Gray Ventures made?
- Gray Ventures has 95 tracked investments, 4 of which have exited, including 3 dated in the last 24 months.
- What stage does Gray Ventures invest at?
- Gray Ventures invests at the Seed, Series A, Series B, Series C, Late Stage stages.
- What sectors does Gray Ventures focus on?
- Gray Ventures focuses on Advanced Manufacturing, AI & Machine Learning, Enterprise Software, Fintech, Healthtech, SaaS, Sales Tech.
- Where is Gray Ventures located?
- Gray Ventures is headquartered in Atlanta, US.
- Who does Gray Ventures co-invest with?
- Gray Ventures most often shares deals with Alerion Ventures, GRA Venture, Service Provider Capital, among 102 tracked co-investors.
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