Investment Summary

Harbert Mezzanine Capital Invests In Sharecare

On June 29, 2021, mezzanine finance firm Harbert Mezzanine Capital invested in internet software and services company Sharecare from Digital Alpha, Arsenal Growth Equity, Beringea, Heritage Group, Galen Partners, Harbert Private Capital and Summit Partners

Investment Highlights
  • This is Harbert Mezzanine Capital’s 1st transaction in the Internet Software and Services sector.
  • This is Harbert Mezzanine Capital’s 25th transaction in the United States.
  • This is Harbert Mezzanine Capital’s 2nd transaction in Georgia.
Investment Fate
  • Sharecare was sold to a financial buyer in 2024.

Investment Summary

Date 2021-06-29
Target Sharecare
Sector Internet Software and Services
Investor(s) Harbert Mezzanine Capital
Sellers(s) Digital Alpha
Arsenal Growth Equity
Beringea
Heritage Group
Galen Partners
Harbert Private Capital
Summit Partners
Deal Type PIPE

Target

Sharecare

Atlanta, Georgia, United States
Sharecare is a digital health company that helps people consolidate and manage various components of their health in one place, regardless of where they are on their health journey. Sharecare provides the messaging, motivation, management, and measurement tools to help individuals, workforces, and communities optimize their comprehensive well-being. Sharecare was founded in 2010 and is based in Atlanta, Georgia.

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Investor(S) 1

DESCRIPTION

Harbert Mezzanine Capital is the junior capital investment arm of asset manager Harbert Management Corporation. Harbert Mezzanine looks to invest $3 to $15 million of subordinated debt to support growth needs, acquisitions, recapitalizations, or management buyouts of mid-sized companies throughout the US. Harbert Mezzanine Capital is based in Nashville, Tennessee.


DEAL STATS #
Overall 25 of 28
Sector (Internet Software and Services) 1 of 1
Type (PIPE) 1 of 1
State (Georgia) 2 of 3
Country (United States) 25 of 28
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 Doctor’s Choice Home Care

Sarasota, Florida, United States

Doctor’s Choice Home Care is a medicare certified home health agency. Doctor’s Choice Home Care was founded in 2007 and is based in Sarasota, Florida.

Sell $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-20 Summit Hosting

Alpharetta, Georgia, United States

Summit Hosting is a cloud hosting provider for financial applications, including QuickBooks, Sage, and SAP Programs in North America. Summit Hosting has been offering top-tier hosting platforms for customers worldwide, with over 8,000 servers and 30,000 end-users running in our environments. Summit Hosting was founded in 2005 and is based in Alpharetta, Georgia.

Buy -

Seller(S) 7

SELLER
DESCRIPTION

Digital Alpha is an alternative investor focused on digital infrastructure. The Firm seeks growth opportunities with a specific interest in next generation networks, the cloud, and the Internet of Things. Digital Alpha was founded in 2017 and is based in Henderson, Nevada.


DEAL STATS #
Overall 1 of 3
Sector (Internet Software and Services) 1 of 3
Type (PIPE) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 WeLink

Lehi, Utah, United States

WeLink is a provider of high-speed broadband access to homes and businesses at up to gigabit speeds, connecting the unconnected and expanding and improving access. WeLink was founded in 2018 and is based in Lehi, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 CIMCON Lighting

Burlington, Massachusetts, United States

CIMCON Lighting is a provider of smart lighting and smart city technologies. CIMCON Lighting was founded in 2012 and is based in Burlington, Massachusetts.

Sell -
DESCRIPTION

Arsenal Growth Equity is a growth capital firm focused on software businesses across the US. Specific areas of interest include online commerce, enterprise software, and digital health. Arsenal seeks businesses with $5 to $20 million of recurring revenue where it can commit $5 to $8 million of equity. Arsenal Growth Equity was established in 2000 and is headquartered in Winter Park, Florida.


DEAL STATS #
Overall 1 of 4
Sector (Internet Software and Services) 1 of 2
Type (PIPE) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Cart.com

Houston, Texas, United States

Cart.com is a fully integrated e-commerce solution to brands, providing all the tools they need to grow through a single e-commerce partner. Cart.com was founded in 2020 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 Sayari

Washington, District of Columbia, United States

Sayari is a provider of financial intelligence and supply chain risk solutions. Sayari’s data intelligence platform powers the fight against global financial crime increases corporate transparency in high-risk places and supports critical national security mission sets. Sayari was founded in 2015 and is based in Washington, District of Columbia.

Buy -
SELLER

Beringea

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 715M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Beringea LLP is a private equity firm focused on growth-oriented company investments in the Midwest US and the UK. Beringea looks to invest $2 to $10 million of equity or junior capital in profitable companies with 5 million and higher in revenue. Funds are used to support business expansions and growth, ownership transitions, leveraged buyouts, recapitalization, and refinancings. The Firm does not have any sector preferences and generally seeks businesses with proven business models and defensible market positions. Beringea was formed in 1988 and is based in London.


DEAL STATS #
Overall 29 of 44
Sector (Internet Software and Services) 5 of 10
Type (PIPE) 1 of 1
State (Georgia) 1 of 1
Country (United States) 14 of 17
Year (2021) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Team Whistle

New York, New York, United States

Team Whistle is a media company that creates and distributes engaging content experiences for today's audiences, always playing in the positive and resonating with what's relatable. Team Whistle was founded in 2014 and is based in New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 ContactEngine

London, United Kingdom

ContactEngine is a cloud-hosted customer-conversation management platform. Pro-active and omnichannel, ContactEngine leverages natural-language processing and machine-learning so that global brands can transform their customer journeys. ContactEngine was founded in 2009 and is based in London, United Kingdom.

Sell -
SELLER

Heritage Group

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 700M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Heritage Group is a private equity firm focused on healthcare companies throughout the US. The Firm seeks to make majority and minority investments in high-growth healthcare services and healthcare technology businesses. Heritage Group was established in 1986 and is based in Nashville, Tennessee.


DEAL STATS #
Overall 2 of 2
Sector (Internet Software and Services) 1 of 1
Type (PIPE) 1 of 1
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-20 AvaSure

Belmont, Michigan, United States

AvaSure is a provider of inpatient audiovisual monitoring telehealth solutions. AvaSure was founded in 2008 and is based in Belmont, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 Connections Health Solutions

Phoenix, Arizona, United States

Connections Health Solutions is a provider of emergent behavioral health services. Through its combination of psych-focused ED/observation units, urgent care clinics, and transitional outpatient services, Connections provides 24/7 access to patients experiencing mental health crises and fills a meaningful gap in the behavioral healthcare landscape. Connections Health Solutions is based in Phoenix, Arizona.

Buy -
SELLER

Galen Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1990
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Galen Partners is a private equity firm that targets investments in the healthcare industry. Areas within healthcare that Galen will consider include medical devices & technology, specialty pharmaceuticals, and information technology/services. Galen typically invests between $10 and $30 million per transaction in companies with a proprietary product or service that have attained revenues above $10 million. Prospective transactions include growth equity investments, complete buyouts, family business or other recapitalizations, going-private transactions, roll-overs of a portion of existing equity, and management buyouts. Galen Partners was formed in 1990 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 25 of 26
Sector (Internet Software and Services) 1 of 1
Type (PIPE) 1 of 1
State (Georgia) 2 of 2
Country (United States) 25 of 26
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-20 Cardiva Medical

Sunnyvale, California, United States

Cardiva Medical, Inc. is a provider of offers Cardiva Catalyst II that supports the body's natural healing process by enhancing the vessel's inherent natural elastic recoil. Cardiva Medical is based in Sunnyvale, California.

Sell $475M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 lifeIMAGE

Newton, Massachusetts, United States

lifeIMAGE is a healthcare communications company enabling the secure and on-demand exchange of medical imaging information from anywhere and with anyone. lifeIMAGE is based in Newton, Massachusetts.

Sell -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 40 of 43
Sector (Internet Software and Services) 2 of 2
Type (PIPE) 1 of 1
State (Georgia) 7 of 7
Country (United States) 39 of 42
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-25 Graylog

Houston, Texas, United States

Graylog Developed on an open source foundation and deployed in more than 50,000 installations worldwide, Graylog is a centralized log management solution built for speed and scale in capturing, storing, and enabling real-time analysis of terabytes of machine data. Purpose-built for modern log analytics to deliver a better user experience with a more cost-effective and flexible architecture, Graylog enables hundreds of thousands of users to explore their data every day to solve security, compliance, operational, and application development issues. Graylog was founded in 2009 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 Hello Alice

Santa Rosa, California, United States

Hello Alice is a free, multichannel platform that helps businesses launch and grow. A Latina-owned company, Hello Alice is building the largest network of owners in the country and becoming the primary platform for small- and medium-sized businesses (SMBs) to access capital. The Company’s enterprise customers and partners include large corporations, government agencies, and institutions looking to serve SMB owners to ensure increased revenues and promote scale. Hello Alice is based in Santa Rosa, United States.

Buy -
SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 259 of 288
Sector (Internet Software and Services) 22 of 28
Type (PIPE) 1 of 1
State (Georgia) 8 of 8
Country (United States) 227 of 248
Year (2021) 10 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-16 Veranex

Raleigh, North Carolina, United States

Veranex is a comprehensive, global, tech-enabled service provider dedicated to the medical technology industry. Offering expert guidance for each of its four concept-through-commercialization pillars: engineering and design, clinical, market access, and regulatory. The company enables accelerated speed to market, controlled development costs, development risk mitigation, and accelerated market viability assessment. At every stage, its customers realize efficiencies in cost and time, while its comprehensive solutions unify the entire development process. Veranex is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 RiskIQ

San Francisco, California, United States

RiskIQ is a provider of website security, mobile application security, and anti-malvertising solutions beyond the firewall. The company was built with a purpose in mind: obtaining visibility over the endless landscape that is the great unknown–the Web. RiskIQ was for,ed in 2009 and is based in San Francisco, California.

Sell -