Philadelphia · Growth · 1 people tracked
Also known as Llr Management Holdco, L.P.
Investment thesis
LLR Partners focuses on the lower middle market, investing in software and tech-enabled businesses within the knowledge economy. The firm emphasizes creating value through partnership, offering flexible capital, strategic guidance and sector insight to help companies grow. With more than 25 years of consistent focus, LLR supports portfolio companies through peer networks, senior advisors, best-practice forums and growth resources, collaborating with management teams to define and execute high-impact growth initiatives that drive long-term value.
Source: firm website, verified Aug 25, 2026.
Team · 1 people
from the firm's websiteWhat they invest in
from 34 of 127 portfolio companiesSaaS ×21Enterprise Software ×9Digital Health ×8Healthtech ×8Fintech ×6Cloud Computing ×5EdTech ×4GovTech ×4
HQs:United States×18
Who they back
founder profiles across 10 portfolio companiesFounding team size:solo founder×62 founders×13 founders×3
Investments · 127 tracked
founders shown can be your intro pathBy year:2019 · 12016 · 12015 · 12014 · 14 dated
Specialty retailer for affordable goods, with 1200 stores nationwide.
Co-investorsblue 9 capital
Phreesia provides a patient intake and engagement platform with automated tools for registration, insurance verification, appointment access, and payments used by healthcare organizations.
Digital HealthHealthtechSaaSNew York, US
Chaim Indig(Executive Officer, Director)Charles Kallenbach(Executive Officer)Thomas Altier(Executive Officer)Michael Weintraub(Director)Victor Kats(Director)Dusty Lieb(Director)
Co-investorsAscension VenturesBlue Venture FundsEscalate Capital PartnersHLM Venture PartnersLRVHealthVantagePoint Capital Partners
3Si provides security solutions—GPS asset tracking, video verification cameras, and a video management system—that turn incident data into intelligence and share it with police through its DirectToDispatch platform.
CybersecurityGovTechIoT
Avenues is a private school with interconnected campuses in New York and São Paulo, offering a global education that combines a shared mission, curriculum, and pedagogy with local community roots.
EdTechNew York, US
Co-investorsFrontier Growth
Celero Commerce provides payment processing technology and business management solutions for small to mid-sized businesses, distributed through financial institutions, merchants, and integrated software vendors (ISVs).
FintechSaaSSales Tech
Kevin Jones(CEO)
CompoSecure designs and manufactures premium metal payment cards with security integrations for card issuers and financial brands.
Advanced ManufacturingFintechHardware
CoreDial appears to be a former telecommunications/cloud communications provider whose operations and customer support are now handled by SkySwitch.
Cloud ComputingEnterprise Software
Co-investorsGolub GrowthMassMutual Ventures
Denver, US
Steve Prather(Founder)Robert Green(Founder)Manny Ladis(Founder)
BoardJoseph Zell(Director)Brian Armstrong(Director)Brian Wallace(Director)
Edmunds GovTech provides software for local government agencies and municipalities, with functionality covering areas such as payroll, tax reporting, and W-2 processing.
GovTechSaaS
ePayPolicy provides an online payments network built for the insurance industry, letting agencies, MGAs, carriers, and premium finance companies collect and disburse payments via credit card and ACH instead of paper checks.
FintechInsurTechSaaS
Co-investorsAccel-KKR
Health Recovery Solutions provides telehealth technology and remote patient monitoring services for healthcare providers, including support for pursuing telehealth funding and federal grants.
Digital HealthHealthtechMedical DevicesSaaSHoboken, US
Jarrett Bauer(Executive Officer, Director)Rohan Udeshi(Executive Officer, Director)Daniel Priece(Executive Officer, Director)
Co-investorsAlpha Ascent Ventures LlcEdison PartnersSaaS Capital
Illuminate provides assessment, universal screening, and progress-monitoring tools for math, reading, and social-emotional behavior, along with MTSS management, dyslexia screening, and data visualization for K-12 educators.
Data & InfrastructureEdTechSaaS
IntelliShift provides a unified fleet management platform that consolidates fleet operations tools into a single login, targeting fleet operators and businesses managing vehicle fleets.
IoTLogistics & Supply ChainSaaS
LEARN Behavioral is a collective of ABA (applied behavior analysis) therapy providers serving children and young adults diagnosed with autism and other special needs.
Digital HealthHealthtechMental Health
Web-based business intelligence software (acquired by Marlin Equity Partners)
Co-investorsSummit PartnersUpdata Partners
LS Direct is a marketing technology company that combines data-driven audience targeting, predictive analytics, and automation to run multichannel direct mail and digital campaigns for customer acquisition, retention, and postal retargeting.
AdTechAI & Machine LearningMarketing Tech
Magaya provides a freight management software platform for freight forwarders and customs brokers, covering shipping, warehouse operations, customs compliance, rate management, and customer-facing digital portals.
Enterprise SoftwareLogistics & Supply ChainSaaS
Nonstop Health offers first-dollar health insurance coverage for organizations with as few as 50 employees, aiming to lower premiums and improve benefits for employers and their employees.
Digital HealthHealthtechInsurTech
Orbis Education partners with universities to expand and manage accelerated pre-licensure healthcare degree programs — including nursing (ABSN), medical lab sciences, and occupational therapy assistant tracks — handling online learning, clinical placements, and enrollment.
EdTechHealthtech
PCS provides a cloud-based transportation management system (TMS) with a built-in AI engine called Cortex that handles dispatch, trucking-specific accounting, compliance, load ranking, and backhaul optimization.
AI & Machine LearningLogistics & Supply ChainSaaS
Co-investorsStellus Capital Management
Co-investorsUpdata Partners
Preparis offers a unified, cloud-based business continuity planning suite covering emergency alerts, planning, risk and business impact assessment, incident detection, and reporting.
Cloud ComputingCybersecurityEnterprise SoftwareSaaSAtlanta, US
Armistead Whitney(Executive Officer, Director)
BoardFrank X Dalton(Director)Mike Parham(Director)Melanie Bialko Leeth(Director)
Co-investorsAtlanta Technology AngelsFulcrum Equity PartnersCollective Capital Ventures
Quantum Workplace makes employee engagement and performance software, offering tools such as surveys, insights, and analytics to help organizations improve employee experience.
Enterprise SoftwareFuture of WorkHR TechSaaS
Co-investorsAcadian Ventures Management, LlcJurassic Capital
RapidRatings provides financial health intelligence and predictive analytics to help enterprises assess and reduce third-party and supply chain risk across their suppliers and vendors.
Data & InfrastructureFintechSaaS
Co-investorsFTV CapitalSpectrum Equity
Relay is a compliant customer communication channel platform that connects CRM, AI, and workflow systems (such as Salesforce, Adobe, and Dynamics) to deliver content through a secure, brandable environment and drive verified customer actions.
Enterprise SoftwareMarketing TechSaaSWayne, US
Matthew Gillin(Founder)
Co-investorsKarlani Capital
Salute provides integrated lifecycle services for the global data center market, offering over 40 services covering data center operations, infrastructure, and sustainability.
Cloud ComputingData & InfrastructureEnterprise Software
Schweiger operates dermatology and allergy clinics offering in-person and virtual care for skin conditions such as acne, eczema, psoriasis, and contact dermatitis, plus allergy testing, immunotherapy, and hives treatment.
Digital HealthHealthtechWellness & Fitness
Co-investorsLnkSV Health Investors
Live video surveillance service for commercial properties offering remote monitoring and guard replacement.
Co-investorsEgis Capital Partners
Sterling Trading Tech provides multi-asset order management systems, real-time cloud-based risk and margin tools, and web, mobile, and desktop trading platforms.
Cloud ComputingFintechSaaS
Stratix is a managed mobility services provider that designs, deploys, manages, and supports end-to-end enterprise mobile technology programs, covering the full device lifecycle from procurement and deployment to help desk support, repair, expense management, and IT asset disposition.
Enterprise SoftwareLogistics & Supply ChainSaaSPeachtree Corners, US
Co-investorsTailwind Capital
Submittable is a platform for managing grant applications and fund disbursement, serving nonprofits, foundations, and government agencies that administer grants and programs.
Enterprise SoftwareGovTechSaaSMissoula, US
Michael FitzGerald(Founder/CEO)inJohn Brownell(Founder/CTO / Developer)inBruce Tribbensee(Founder)Joseph Silver(Executive Officer)Thor Culverhouse(Executive Officer, Director)in
BoardMichael Smerklo(Director)in
Co-investorsAccel-KKRAfrica Enterprise Challenge Fund (AECF)K5 VenturesNext Coast VenturesNext Frontier CapitalY Combinator+1 more
SUN Behavioral Health operates inpatient hospitals and home- and community-based programs providing mental health and substance use disorder treatment across a full continuum of care, from crisis stabilization to long-term recovery.
Digital HealthHealthtechMental Health
Steve Page(CEO & Founder)
BoardEugene Hill(Director)Wilfred Jaeger(Director)David Fitzgerald(Director)Brian Murphy(Director)
Co-investorsSV Health Investors
Suvoda provides software solutions for managing complex clinical trials, including therapeutic areas such as oncology, central nervous system disorders, and rare disease.
Digital HealthHealthtechSaaSConshohocken, US
Jagath Wanninayake(Founder & CEO)Marius Manole(Executive Officer, Director)Robert Hummel(Co-founder & Chief Operating Officer)Klaus Besier(Director)Anuj Goswami(Director)Fred Kyle(Director)
Co-investorsBain Capital Tech Opportunities
TrueLearn provides online exam-preparation question banks (SmartBanks) with answer explanations and performance analytics for students, medical residents, and educational institutions.
Digital HealthEdTech
TrustEngine connects a mortgage lender's existing systems (PPE, LOS, CRM) to turn complex loan data into structured, borrower-ready guidance for loan officers.
FintechPropTechSaaS
TurboTenant provides tenant screening reports and rental application services for independent landlords managing rental property investments.
PropTechSaaSFort Collins, US
Sarnen Steinbarth(CEO)
Co-investorsAccess Venture PartnersRET VenturesAccess Ventures
A leading independent provider of full-service fund administration, fund accounting and investor solutions for public and private fund managers in the U.S.
Co-investorsHamilton Lane
UltiSat provides secure satellite and managed network communications, including multi-orbit satellite, terrestrial, and wireless connectivity, for government, defense, humanitarian, and critical infrastructure organizations.
Defense TechGovTechSpace Tech
Co-investorsABS Capital Partners
Welocalize provides localization, translation, and language services for global clients, with vertical focus on regulated industries including life sciences, legal, and enterprise.
AI & Machine LearningEnterprise SoftwareSaaS
Integrated risk management solutions combining global threat intelligence and response services for multinational organizations.
Co-investorsEgis Capital Partners
Chicago, US
Shawn Carpenter(President; Chief Executive Officer; Secretary; Treasurer)Nicholas Kocinski(Secretary)
BoardKapil Chaudhary(Director)Jeremy Diamond(Director)Brian Hand(Director)R. H. Bailin(Director)
Co-investorsHyde Park Angels
Exits · 3
IPOs and acquisitions across the tracked portfolioFive BelowNASDAQ: FIVEPhreesiaNYSE: PHRLogi Analyticsacq. by Marlin Equity Partners
Portfolio news
latest coverage across their companies
Phreesia · mychesco.com · Aug 17, 2026
Submittable · missoulian.com · May 10, 2026
Fund performance · per public LP disclosures · 5
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| LLR Equity Partners VIILPs: Pennsylvania Public School Employees' Retirement System, Maryland State Retirement and Pension System | 2023 | — | — | 1.10x | 0.02x |
| LLR Equity Partners VILPs: Pennsylvania Public School Employees' Retirement System, Maryland State Retirement and Pension System | 2020 | — | 5.6% | 1.17x | 0.20x |
| LLR Equity Partners VLPs: Pennsylvania Public School Employees' Retirement System, Maryland State Retirement and Pension System | 2017 | — | 19.0% | 2.32x | 0.74x |
| LLR Equity Partners IVLPs: Pennsylvania Public School Employees' Retirement System, Hawaii Employees' Retirement System, Maryland State Retirement and Pension System | 2013 | — | 27.0% | 2.82x | 2.48x |
| LLR Equity Partners IIILPs: Pennsylvania Public School Employees' Retirement System | 2008 | — | 17.9% | 2.40x | 2.40x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has LLR made?
- LLR has 127 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does LLR invest at?
- LLR invests at the Growth stage.
- What is LLR's typical check size?
- LLR typically writes checks of $10M – $200M.
- What sectors does LLR focus on?
- LLR focuses on Advanced Manufacturing, EdTech, Enterprise Software, Fintech, GovTech, Healthtech, HR Tech, SaaS, Sector Agnostic.
- Where is LLR located?
- LLR is headquartered in Philadelphia, US.
- Does LLR lead rounds?
- Yes, LLR leads investment rounds.
- Who does LLR co-invest with?
- LLR most often shares deals with Accel-KKR, Egis Capital Partners, SV Health Investors, among 40 tracked co-investors.
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