How UK-Based Nigerian Entrepreneur Sold His Software Company For $1.2 Billion

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Shegun Otulana is a Birmingham-based entrepreneur with big plans to transform the city into a hub for entrepreneurs. Since she was a child, Otulana has been ambitious and entrepreneurial. His vision is to accomplish incredible things while working with large groups.

He established TheraNest, a software solution for mental and behavioral health providers, in 2013. He recently sold Therapy Brands, TheraNest’s parent company, for $1.2 billion, according to ComebackTown. He reinvested the profits in Harmony Venture Labs (HVL), a company dedicated to the development of other businesses, specifically B2B SaaS (software as a service) products.

HVL has subsidiaries such as HVL Acquisition, which buys existing profitable startups from founders looking for an exit; HVL Studio, which builds high-growth startups from internally generated ideas; and HVL Consulting, which “consults with other startups to help them create solutions around marketing, sales, growth, and organizational excellence.”

According to Otulana, his businesses are already bringing in millions of dollars per year. “HVL is about two years into its journey, and we’re pleased with the rate at which goals are being met,” he told ComebackTown.

“As an investor, looking at the Birmingham ecosystem and thinking about how I love to build things, I see a future where I want to create multiple startups and help build the technology ecosystem here,” he said. “Birmingham has challenges to building high-growth companies…I feel me and my team can overcome these obstacles and turn these problems into an advantage,” he continued.

HVL will help and grow 40 businesses in Birmingham, with a combined value in the billions of dollars. Otulana stated that he chose to invest in Birmingham because it is his hometown. He is, however, of Nigerian descent. He first arrived in Birmingham from Lagos, Nigeria in 1998. He attended UAB and graduated with a degree in engineering and management information systems.

 

 

 

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