Fundraising Fox
Philadelphia · Growth · 121 people tracked
Also known as Llr Management Holdco, L.P.
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Investment thesis
LLR Partners focuses on the lower middle market, backing software and tech-enabled businesses operating in the knowledge economy. The firm concentrates on a defined set of sectors — education, fintech, healthcare, industrial software and broader software — and emphasizes creating value through partnership. It provides flexible capital, strategic guidance and sector expertise, pairing portfolio companies with dedicated teams, senior advisors and peer networks to help define and execute high-impact growth initiatives. With more than 25 years of consistent sector focus, LLR works collaboratively with management teams to drive long-term value and accelerate growth.
Source: firm website, verified Oct 5, 2026.
Team · 121 people
from the firm's website & curated
What they invest in
from 50 of 138 portfolio companiesSaaS ×32Enterprise Software ×23Healthtech ×17Digital Health ×12Cloud Computing ×7EdTech ×7Fintech ×7AI & Machine Learning ×6
HQs:United States×35United Kingdom×2
Who they back
founder profiles across 22 portfolio companiesFounding team size:solo founder×142 founders×43 founders×4
Where their founders studiedfrom 23 founders with education data
Villanova University ×3
What their founders studiedfrom 22 founders with field-of-study data
Computer Science ×5Engineering ×5Business & Management ×3Economics ×2Finance & Accounting ×2Life Sciences ×2
Where their founders worked beforefrom 24 founders with career history
Blueprint Health LLC ×2Intrepid Communications ×2ViaWest ×2
2 hold an MBA (of 24 with degree data)
Investments · 138 tracked
founders shown can be your intro pathBy year:2022 · 12019 · 12018 · 12016 · 22015 · 12014 · 17 dated
Five Below operates specialty retail stores selling trend-focused, value-priced merchandise across eight product categories—Candy, Style, Party, Room, Create, Tech, Sports, and New & Now—with most items priced at $5 or below, primarily serving children and young consumers through a chain of approximately 1,900 locations and an e-commerce platform.
Kenneth R. Bull(Chief Operating Officer)Maureen "Molly" M. Gellerman(Chief Human Resources Officer)Jacob K. Hawkins(Chief Marketing and Omnichannel Officer)inMichelle L. Israel(Executive Vice President, Chief Merchandising Officer)inAmit Jhunjhunwala(Chief Information Officer)inGraham E. Poliner(Chief Strategy, Business Intelligence, and Analytics Officer)in
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)Evan Roberts(Executive Officer)inCharles Kallenbach(Executive Officer)inThomas Altier(Executive Officer)inBalaji Gandhi(Chief Financial Officer)inDavid Linetsky(President, Network Solutions)in
Co-investorsAscension VenturesBlue Venture FundsEscalate Capital PartnersHLM Investment PartnersLRVHealthVantagePoint Capital Partners
3Si builds concealed GPS tracking devices that help retailers, financial institutions, pharmacies, and other organizations protect high-value assets, recover stolen goods, and share verified location intelligence with police dispatch during active incidents.
CybersecurityDefense TechEnterprise SoftwareGovTechHardwareIoTUS, US
Appspace is an internal communications platform that distributes messages across multiple employee endpoints including digital signage, mobile apps, intranets, and messaging services like Teams and Slack.
Enterprise SoftwareFuture of WorkSaaSDallas, US
Jeff Cate(Executive Officer)Brandon Miles(Executive Officer, Director)
Co-investorsAccel-KKRLevel EquityPartners for GrowthPartners for Growth (PFG)
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-investorsLiberty
BrightHeart develops the B-Right AI Platform, an AI system that analyzes routine prenatal ultrasound images and clips to help clinicians and sonographers detect signs of congenital heart defects and confirm fetal heart scan completeness.
AI & Machine LearningDigital HealthHealthtech
Co-investorsSofinnova Partners
Brightside Academy is an early childhood education provider serving children, youth, and families in Philadelphia and Pittsburgh.
EdTechPhiladelphia, US
Co-investorsSJF Ventures
CareATC provides employer-sponsored healthcare services, including primary care, occupational health, and total health solutions such as behavioral health, nutritional counseling, and physical therapy.
Digital HealthHealthtechWellness & Fitness
Co-investorsOmega Capital
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)in
Composecure develops metal card and security technology for customers seeking advanced payment card solutions.
Advanced ManufacturingCybersecurityFintechHardware
Lou DaSilva(Founder)in
CoreStream helps organizations deliver personalized voluntary benefits to employees by matching the right coverage to individual needs across wellness, financial, and lifestyle categories.
HR TechInsurTechSaaSWellness & Fitness
Co-investorsLightyear
DaySmart provides a point-of-sale software system for businesses that process customer payments, manage inventory, and track sales.
Cloud ComputingEnterprise SoftwareMarketing TechRetail TechSaaSSales Tech
Patrick Shanahan(Chief Executive Officer)inJohn Agostino(Chief Financial Officer)inJason Kirk(Chief Technology Officer)in
Digital Guardian is a data-centric security vendor offering data loss prevention and endpoint threat detection, acquired by Fortra in 2021.
Co-investorsGolub GrowthMassMutual VenturesFairhaven Capital Partners
Dizzion delivers cloud-based digital workspace solutions that enable distributed teams to access secure, virtualized desktop and application environments from anywhere.
Cloud ComputingCybersecurityEnterprise SoftwareFuture of WorkDenver, US
Steve Prather(Founder)inRobert Green(Founder)inManny Ladis(Founder)in
BoardJoseph Zell(Director)Brian Armstrong(Director)Brian Wallace(Director)in
Co-investorsAccess Venture PartnersCorrelation VenturesService Provider CapitalGrotech VenturesPoint B Capital
Edmunds serves local municipalities and government authorities with specialized software and implementation services.
Enterprise SoftwareGovTechSaaS
Bob Edmunds(CEO & Executive Chairman)inBob Edmunds, Jr.(Chief Revenue Officer)
Co-investorsTA Associates
ePayPolicy provides digital payment processing and related tools designed for the insurance industry to streamline operations and client interactions.
FintechInsurTechSaaSAustin, US
Health Recovery Solutions (HRS) provides an EHR-integrated remote patient monitoring platform along with clinical advisory, logistics, reimbursement, and support services for healthcare organizations, payors, and providers.
Digital HealthHealthtechSaaSHoboken, US
Jarrett Bauer(Executive Officer, Director)inRohan Udeshi(Executive Officer, Director)inDaniel Priece(Executive Officer, Director)in
Co-investorsAlpha Ascent Ventures LlcEdison PartnersSaaS CapitalWestway Capital
Illuminate provides a Multi-Tiered System of Supports (MTSS) management solution that helps K-12 schools identify universal student needs, track interventions, and monitor progress using data-driven assessments.
Data & InfrastructureEdTechHealthtechSaaS
Co-investorsInsight Partners
A hospitality platform that integrates with property management systems and other hotel technology to provide staff-facing tools, mobile check-in, digital key access, and dining management for hotels and properties.
Enterprise SoftwareSaaSTravel & Hospitality
Steve Proctor(CEO)in
Co-investorsAlumni VenturesKarlani CapitalStructural CapitalSwordfish Investments
IntelliShift Telematics provides real-time GPS tracking, vehicle diagnostics, fuel monitoring, and driver behavior analysis for fleet operations across cars, trucks, heavy equipment, and trailers.
IoTLogistics & Supply ChainSaaS
John M Cunningham Jr(Founder)in
JustPark operates an online marketplace and app that lets drivers find and reserve parking and EV charging spaces, and lets space owners rent out their driveways or car parks.
MarketplacesMobility & TransportationPropTech
Anthony Eskinazi(Founder)in
Co-investorsBMW i VenturesFTV CapitalIndex VenturesLocalGlobe
LEARN provides applied behavior analysis (ABA) therapy services for children with autism, using a contemporary, child-centered approach that integrates family values and interests.
Digital HealthEdTechHealthtechMental Health
Michael Maloney(Founder)in
Co-investorsGryphon
LS Direct is a data-driven marketing company that combines first-party data analytics with direct mail and multichannel campaigns to help enterprise brands in retail and travel sectors identify purchase intent and measure ROI.
AdTechAI & Machine LearningData & InfrastructureDirect to ConsumerMarketing TechSuffern, US
Chris Knoebel(Co-Founder & Vice President)inJeff Horowitz(President & CEO)in
Magaya is a supply chain automation platform serving freight forwarders, warehouse operators, eCommerce businesses, and other logistics professionals.
Enterprise SoftwareLogistics & Supply ChainSaaS
Jesús David Rodríguez(Co-founder)inJosé Yoniel García(Co-founder)Gabriel T. Ruz, Jr.(Co-founder)
Co-investorsApax Digital
Medbridge is a digital health platform that serves healthcare providers with evidence-based clinical content and tools designed to improve patient outcomes in rehabilitation, physical therapy, and related care settings.
Digital HealthEdTechHealthtechSaaSSeattle, US
Justin Kowalchuk(Executive Officer, Director)inDonovan Campbell(Chief Executive Officer)inJeff deCillia(Chief Financial Officer)inSarah Jacob(Chief Product Officer)inPete Gracey(Chief Revenue Officer)inDaniel Valladao(General Counsel & Head of Operations)in
Co-investorsBrentwood Associates
Nonstop Health provides a first-dollar benefits platform that removes financial barriers to healthcare for employees, helping employers and nonprofits simplify benefits administration.
Digital HealthEnterprise SoftwareHealthtechInsurTech
Darrell Young(Chief Technology Officer, Co-Founder)inPaymon Farazi(Chief Executive Officer)
Numotion is North America's largest provider of mobility products and services, offering Complex Rehab Technology, urology supplies, speech solutions, and workers' compensation services to individuals with mobility limitations and complex medical needs.
HealthtechMedical DevicesMobility & TransportationBrentwood, US
Co-investorsAea Investors
Onapsis provides cybersecurity solutions focused on protecting enterprise applications, particularly SAP and Oracle systems, across cloud, on-premises, and hybrid environments.
CybersecurityEnterprise SoftwareSaaSBoston, US
Mariano Nunez(Chief Executive Officer)inSadik Al-Abdulla(Chief Product Officer)inDenis Cashman(Chief Financial Officer)inDebi Dowling(Chief Marketing Officer | Chief of Staff)inPaul Kleinschnitz(Chief Revenue Officer)inJuan Pablo Perez-Etchegoyen(Chief Technology Officer)
Co-investors.406 VenturesEvolution Equity PartnersGolub GrowthNightDragonArsenal Growth EquityLa Caisse
Orbis Education partners educational institutions with healthcare providers to develop and manage online, hybrid, and accelerated degree programs for pre-licensure healthcare professionals.
EdTechHealthtechCarmel, US
Co-investorsLightspeed Venture Partners
PCS Retirement provides recordkeeping and administration solutions for retirement plans, serving third-party administrators (TPAs), employers, financial advisors, and individual savers in the United States.
FintechSaaS
PCS Software develops transportation management solutions for logistics and transportation businesses.
AI & Machine LearningLogistics & Supply ChainSaaS
Mark A. Hill(Chief Executive Officer)inLori Marwill(Chief Financial Officer)inDanielle Villegas(Chief Product Officer)inJohn D. Partain(Chief Customer Officer)inAlan Gunn(Vice President of Sales)inBess Lauer(Vice President of Marketing)in
Co-investorsStellus Capital Management
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)in
BoardFrank X Dalton(Director)Mike Parham(Director)Melanie Bialko Leeth(Director)
Co-investorsAtlanta Technology AngelsFulcrum Equity PartnersCollective Capital Ventures
Quantum Workplace provides an all-in-one HR software platform that connects employee engagement, performance management, development, and recognition data in a single view for HR leaders, managers, and executives.
Enterprise SoftwareHR TechSaaS
Co-investorsAcadian Ventures Management, LlcJurassic CapitalM-One Capital
RapidRatings provides data services to evaluate supplier performance and mitigate supply chain disruptions for large enterprises.
Data & InfrastructureEnterprise SoftwareFintechSaaSNew York, US
Co-investorsFTV CapitalSpectrum Equity
RealTime provides software systems for managing the research and business operations of clinical trials, including a CTMS, eRegulatory, eSource, eConsent, and payment tools.
Digital HealthHealthtechSaaS
Rick Greenfield(Founder & Chief Strategy Officer)inJeff Kozloff(Chief Executive Officer)inLinda Parks(Chief Operating Officer)inKyle Cunningham(Chief Product Officer)inAllan Hakky(Chief Technology Officer)
Co-investorsOhio Innovation Fund
Relay operates a compliance-focused channel platform that serves as an execution layer for customer communications, ensuring regulated enterprises deliver sensitive messages with regulatory compliance and verified completion.
Enterprise SoftwareMarketing TechSaaSWayne, US
Matthew Gillin(Founder)inJay Lavin(EVP Partnerships & Business Development (founding member))in
Co-investorsKarlani Capital
Revecore provides AI-driven revenue cycle management and revenue integrity solutions for hospitals and health systems, recovering revenue from complex claims and reimbursement challenges that traditional workflows typically miss.
AI & Machine LearningEnterprise SoftwareHealthtechSaaS
Noah Breslow(Chief Executive Officer)in
Co-investorsFCA Venture Partners
Rizing is an SAP consulting firm that helps enterprises implement and optimize SAP solutions across human capital management, enterprise asset management, and fashion/retail.
Cloud ComputingEnterprise SoftwareSaaS
Salute provides comprehensive lifecycle services and solutions for data center operators globally, encompassing over 40 services across planning, operations, and sustainability.
Cloud ComputingData & InfrastructureEnterprise Software
Co-investorsHealthTrend CapitalNew Mountain Capital
Schweiger Dermatology Group is a dermatology practice that provides medical and cosmetic dermatological services to patients, with locations across multiple areas and handling insurance billing, co-pays, and cosmetic procedures.
Digital HealthHealthtechMedical DevicesWellness & FitnessNew York, US
Dr. Eric Schweiger
Co-investorsLnkSV Health Investors
Sterling Trading Technology provides professional trading platforms for equities, options, and futures across retail brokers, proprietary trading firms, hedge funds, and institutional clients.
Cloud ComputingEnterprise SoftwareFintechSaaS
Jen Nayar(President & CEO)inKeith Cacciola(Chief Customer Officer)inBrendan O'Sullivan(Chief Operating Officer)inDave Weiss(Chief Technology Officer)Jason Rosenthal(Chief Financial Officer)in
Co-investorsRaido Venture Holdings
Stratix provides enterprise mobility solutions and managed services for large organizations, helping design, deploy, and support mobile device programs across industries including retail, healthcare, aviation, and manufacturing.
Enterprise SoftwareIoTLogistics & Supply ChainMobility & TransportationSaaSPeachtree 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(CEO)inJohn Brownell(CTO / Developer)inBruce Tribbensee(Founder)inJoseph Silver(Executive Officer)Thor Culverhouse(Executive Officer, Director)inJoanna Socha(Lead Designer)in
Co-investorsAccel-KKRK5 VenturesNext Coast VenturesNext Frontier CapitalStifel Venture BankingY Combinator+8 more
SUN Behavioral operates four psychiatric hospitals and community-based agencies that provide behavioral health and crisis care, aiming to support patients before, during, and after hospitalization.
Digital HealthHealthtechMental HealthWellness & Fitness
Steve Page(President and CEO)in
BoardEugene Hill(Director)inWilfred 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)inMarius Manole(Executive Officer, Director)Robert Hummel(Co-founder & Chief Operating Officer)inKlaus Besier(Director)Anuj Goswami(Director)inFred Kyle(Director)
Co-investorsBain Capital Tech Opportunities
TrueLearn provides test preparation and exam simulation platforms for medical students, residents, and healthcare professionals through practice question banks and analytics to help them succeed on standardized exams.
Digital HealthEdTechHealthtechSaaS
Joshua Courtney(Founder, Executive Chairman of the Board)in
TrustEngine provides a unified software platform that integrates borrower intelligence and guidance tools for mortgage lenders, enabling loan officers to deliver informed financial advice throughout the borrower relationship lifecycle.
AI & Machine LearningEnterprise SoftwareFintechMarketing TechPropTechSaaS
TurboTenant provides tenant screening reports and rental application services for independent landlords managing rental property investments.
PropTechSaaSFort Collins, US
Sarnen Steinbarth(Founder)in
Co-investorsAccess Venture PartnersRET VenturesService Provider CapitalAccess Ventures
UltiSat provides managed satellite, terrestrial, and wireless network services along with cybersecurity and systems integration for defense, national security, civil government, and critical infrastructure customers.
CybersecurityDefense TechGovTechSpace TechWashington D.C., US
Jim Scott(CEO and President)in
Viventium provides payroll and HR software specifically designed for healthcare providers, including solutions for staff hiring, retention, and labor compliance management.
Enterprise SoftwareHealthtechHR TechSaaSBrooklyn, US
Gary J. Trainor(President, CEO, Treasurer and Director)inNavin Gupta(Chief Executive Officer)inPeter Goepfrich(Chief Financial Officer)inTerra Vicario(Chief Client Officer)inBen Johnson(Chief Technology Officer)inPatrick Manzo(Chief Commercial Officer)in
Co-investorsABS Capital PartnersCamden Partners
Opal is an AI-enabled service delivery platform that enables content creators to translate and localize content directly within their existing work tools, with modular AI building blocks and pre-built connectors to enterprise systems.
AI & Machine LearningEnterprise SoftwareSaaSNew York, US
Paul Carr(Chief Executive Officer)Chris Grebisz(Chief Technology Officer)
YCharts is a financial research and client engagement software company serving financial advisors, RIAs, asset managers, banks and trust companies, and individual investors.
Chicago, US
Shawn Carpenter(President; Chief Executive Officer; Secretary; Treasurer)inNicholas Kocinski(Secretary)
BoardKapil Chaudhary(Director)Jeremy Diamond(Director)Brian Hand(Director)R. H. Bailin(Director)
Co-investorsArba LLCAmicus Capital PartnersHyde Park AngelsMorningstar Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Aasonn RizingACREAdeptAgAffinity HospiceAgility RecoveryAllmark DoorAlsbridgeAmerican Renal AssociatesArcherAxisCareAzalea HealthbenefitexpressBluVectorCedar CapitalCigitalCodiscopeCollabNetCrothall Services GroupCyberShiftEdlioEKR TherapeuticseLocalEnergyCAPeOriginaleResearch TechnologyexcelleRxEye Health AmericaFastSpringFleet OneGenesee ScientificGeoforceGestaltHealthcare FinanceHealthcare Finance GroupHeartland Payment SystemsHighPoint SolutionsInfoHighway CommunicationsInnaPhaseIO EducationIODJGWPT HoldingsJWXKEEPSKey2ActLogi AnalyticsMaxwell SystemsMedical Science & ComputingMedmarkMercury SecurityMidigatorOpinion Research CorporationPet360PhishLabsPhysicians Immediate CarePorfolio Companies AcrePortfolio Company Pcs RetirementPrinceton SoftechProphetProphet 21QuintiqReading Truck BodyRealtimeRealTime eClinical SolutionsRelias LearningRevitasSchweiger Dermatology GroupSDI HealthSdi IncSICOMSinger EquitiesSMGSoltisSparkPostStealth MonitoringTaratecTribridgeTrueTruTechnologiesUltimus Fund SolutionsVantage Point LogisticsVector SolutionsViventiumVivere HealthVPLWorldAware
Exits · 5
2 IPOs · 3 acquisitions · showing 4Five BelowNASDAQ: FIVEPhreesiaNYSE: PHRLogi Analyticsacq. by Marlin Equity PartnersOrbis Educationacq. by Grand Canyon Education
Portfolio news
latest coverage across their companiesCorestream · thesaasnews.com · Jul 9, 2026
TrueLearn · prnewswire.com · Jun 3, 2026
Revecore · revecore.com · Jan 27, 2026
ePayPolicy · epaypolicy.com · Aug 5, 2025
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 138 tracked investments, 5 of which have exited.
- 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, Fulcrum Equity Partners, Golub Growth, among 73 tracked co-investors.
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