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

Shegun Otulana is a Birmingham-based entrepreneur with big plans to turn the city into an entrepreneurial hotspot. Otulana has always been ambitious and entrepreneurial since she was a child. His vision is to create amazing things while working with large groups.

In 2013, he founded TheraNest, a software solution for mental and behavioral health providers. According to ComebackTown, he recently sold Therapy Brands, TheraNest’s parent company, for $1.2 billion. He reinvested the profits in Harmony Venture Labs (HVL), a company dedicated to the creation of other businesses, particularly 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.



Written by PH

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