Blue Heron Capital

Blue Heron Capital, LLC is a private equity and venture capital firm based in Richmond, Virginia, with an additional office in Washington, D.C. Founded in 2006, the firm specializes in growth equity investments, primarily targeting early-stage companies and lower market buyouts in the healthcare sector, technology-enabled business services, and enterprise technology industries. Blue Heron Capital typically invests between $2 million and $10 million in companies generating $3 million to $20 million in revenue, focusing on those that are cash flow positive or near breakeven. The firm emphasizes its operational involvement, investing only in sectors where it possesses deep expertise, allowing it to actively support the growth of its portfolio companies. Its strategic approach combines capital investment with industry knowledge and a robust network to foster value creation for both companies and investors.

Thomas A. Benedetti

Managing Partner and Co-Founder

Tom Benedetti

Co-Founder & Managing Partner

Gordon Crenshaw

Partner

Kara Donnelly

Director Of Business Development

Kevin Musco

Associate

Andrew Tichenor

Co-Founder & Managing Partner

29 past transactions

AnswersNow

Series A in 2023
AnswersNow, Inc. develops a mobile platform for parents and caregivers of autistic children. Its platform provides educational resources, behavioral learning tools, and on-call expert support. Its platform supports step-by-step learning process of the child; as well as enables saving, storing, and monitoring the child's progress. The company was founded in 2016 and is based in Richmond, Virginia.

Proof Technology

Series A in 2022
Process Server Technology LLC develops a mobile application, PROOF which connects law firms with experienced servers who are ready to deliver time-sensitive legal documents. The technology provides real-time tracking and electronic proof-of-service. Process Server Technology LLC was incorporated in 2017 and is based in Denver, Colorado.

Aware

Series C in 2021
Aware is a cloud intelligence platform that adopts the latest advancements in cognitive computing, artificial intelligence, and behavioral analytics to amplify enterprise value by monitoring the social graph. They harness the power of their platform’s insights into human behavior and interactivity to create great value for the enterprise. They have only built a fraction of what they imagined and now they are looking for incredibly talented people to help us achieve their aspirational vision.

Insightin Health

Series A in 2021
Insightin Health develops a cloud-based platform that enhances preventative care recommendations for patients within healthcare systems. Founded in 2016 and headquartered in Gaithersburg, Maryland, with an additional office in Pittsburgh, the platform automates campaign management, allowing healthcare organizations to create personalized content and deliver it in real-time. By aggregating data from various sources, the system provides actionable analytics that helps organizations manage member activities effectively. Utilizing artificial intelligence, the platform combines medical, clinical, cognitive, and social determinants of health to suggest tailored next steps for individuals, thereby improving quality measures and member satisfaction while reducing churn. The company's services cater to Medicare/Medicaid, Accountable Care Organizations (ACOs), and other healthcare markets.

Aware

Series B in 2020
Aware is a cloud intelligence platform that adopts the latest advancements in cognitive computing, artificial intelligence, and behavioral analytics to amplify enterprise value by monitoring the social graph. They harness the power of their platform’s insights into human behavior and interactivity to create great value for the enterprise. They have only built a fraction of what they imagined and now they are looking for incredibly talented people to help us achieve their aspirational vision.

VIDA

Series C in 2020
VIDA Diagnostics, Inc. specializes in clinical imaging software and analysis services, focusing on lung and respiratory care. The company's flagship products include LungPrint, an automated AI-powered tool that analyzes chest CT scans to assess lung physiology and functional tissue, and VIDA|precision, which provides detailed lung measurements for pulmonary clinicians. Additionally, VIDA|vision enables interactive examination of advanced quantitative imaging analysis results. The company offers comprehensive image analysis services for both academic and clinical trials, including study design, CT protocol development, and data analysis. Founded in 2004 and headquartered in Coralville, Iowa, with an office in Minneapolis, VIDA's software is FDA cleared and CE-marked, making it suitable for clinical use in multiple regions, including the US, European Economic Area, Canada, and Australia. Through its innovative solutions, VIDA aims to empower healthcare organizations and physicians to enhance patient outcomes, especially for those at risk of chronic respiratory diseases such as COPD, interstitial lung disease, lung cancer, and COVID-19.

Homecare.com

Venture Round in 2019
Homecare.com provides expert information, practical action steps, guides, resources, and personalized plans to help caregivers make sound decisions and successfully navigate the complex world of eldercare. It offers a whole new world for caregivers: one where they can do the very best for their parents, older family members, or friends who need care. Its platform helps the families and caregivers to connect with each other, enabling families and health care providers to interview, hire, and manage fully credentialed, insured, and bonded caregivers. Homecare.com was founded in 2014 and is based in Mclean, Virginia.
ChartSpan Medical Technologies, Inc. develops and delivers ChartSpan, an application that enables patients to organize, request, and send their family’s health records from their smartphone. The company’s ChartSpan application facilitates patients to organize records, such as immunizations, medical, dental, vision, prescriptions, over-the-counter medications, X-rays, laboratory results, etc. It also offers ChartSpanEngage, a chronic care management solution that facilitates automated records delivery, secure electronic messaging, virtual care team, patient onboarding, EHR agnostic, and real-time analytics dashboard features for health care providers. ChartSpan Medical Technologies, Inc. was incorporated in 2012 and is based in Greenville, South Carolina.

Stratasan

Venture Round in 2019
Stratasan, LLC specializes in providing market intelligence to hospitals and healthcare systems through its software and services. Based in Nashville, Tennessee, the company offers an analytical platform featuring applications such as Blackbird, a data query engine that delivers insights, and Canvas, a customizable report delivery system that provides financial analysis and market projections for various healthcare volumes. Additionally, Stratasan provides a suite of software solutions known as Pathways, which grants access to actionable intelligence. Founded in 2010 and formerly known as Health Data Source LLC, Stratasan focuses on enabling healthcare organizations to make informed decisions to enhance strategic growth, covering areas such as strategic planning, marketing, physician relations, and mergers and acquisitions.
ChartSpan Medical Technologies, Inc. develops and delivers ChartSpan, an application that enables patients to organize, request, and send their family’s health records from their smartphone. The company’s ChartSpan application facilitates patients to organize records, such as immunizations, medical, dental, vision, prescriptions, over-the-counter medications, X-rays, laboratory results, etc. It also offers ChartSpanEngage, a chronic care management solution that facilitates automated records delivery, secure electronic messaging, virtual care team, patient onboarding, EHR agnostic, and real-time analytics dashboard features for health care providers. ChartSpan Medical Technologies, Inc. was incorporated in 2012 and is based in Greenville, South Carolina.

Verato

Series C in 2019
Verato is a cloud-based patient matching technology that is better, faster, and cheaper than today's standard matching technologies. We use a highly-curated, continuously-updated, self-learning database of identities and identity attributes spanning the entire U.S. adult population. This database acts as an “answer key” for identity data. We call this "referential matching." Verato uses this database as an answer key during matching to make matches no other approach can ever make—even if two records have out-of-date, errored, incomplete, and inconsistent identity data. Because of this approach, our match rates are the highest in the industry. We deliver sub-second performance and can securely handle hundreds of millions of transactions to support the largest organizations. Since, Verato is cloud-based, there is no software to deploy, support, and maintain. We deliver quick time-to-value (weeks, not months or years) and a lower total cost of ownership than any of the on-premises solutions being used today. Better, cheaper, faster.

Homecare.com

Venture Round in 2018
Homecare.com provides expert information, practical action steps, guides, resources, and personalized plans to help caregivers make sound decisions and successfully navigate the complex world of eldercare. It offers a whole new world for caregivers: one where they can do the very best for their parents, older family members, or friends who need care. Its platform helps the families and caregivers to connect with each other, enabling families and health care providers to interview, hire, and manage fully credentialed, insured, and bonded caregivers. Homecare.com was founded in 2014 and is based in Mclean, Virginia.

STARC Systems

Venture Round in 2017
STARC Systems, LLC is a manufacturer based in Brunswick, Maine, specializing in modular wall systems designed for various sectors, including healthcare, commercial construction, data centers, and laboratories. Founded in 2012, the company produces innovative containment solutions such as modular telescoping panels and temporary barriers, which are reusable, clean, and effectively reduce noise and airborne contaminants. These products are particularly valuable in environments requiring isolation during renovations or restorations, as they help protect sensitive areas from disruptions. STARC Systems emphasizes sustainability by minimizing waste and debris associated with traditional construction methods, thereby offering a comprehensive solution for interior isolation needs.

Avizia

Series A in 2016
Avizia is a provider of telehealth and remote conferencing platform to deploy and power system-wide telehealth programs. It is delivering on the vision of collaborative care for patients by connecting medical experts across distance through innovative, leading-edge telemedicine solutions. Supported by Cisco technology, Avizia delivers telemedicine that is as powerful as it is easy to use. Its end-to-end solution includes telemedicine devices, workflow management software, store-and-forward capabilities with EHR integration, and a line of peripherals, such as digital stethoscopes and examination cameras. Whether medical professionals are performing remote medical consultations or teaching a new procedure, Avizia makes the experience feel as if everyone is present. Avizia uses Cisco TelePresence technology to enable HD, real-time video collaboration in hospitals amongst patients and professionals.

PresenceLearning

Series C in 2015
PresenceLearning, Inc. offers online special education services, including speech therapy, occupational therapy, behavioral interventions, and mental health support, to K-12 students and school districts across the United States and Canada. Utilizing a web-based videoconferencing platform, the company connects schools and parents with a network of licensed speech-language pathologists and other specialists through a variety of online tools and evidence-based therapeutic activities. Founded in 2009 and headquartered in San Francisco, California, PresenceLearning has established itself as a leader in delivering clinical services via the internet, successfully providing over 2.5 million teletherapy sessions since its inception. The company, formerly known as Presence Telecare, Inc., rebranded to its current name in August 2011.

Verisma Systems

Venture Round in 2015
Verisma is a Release of Information (ROI) Technology and Services Company. Our patented, cloud-based platform is the industry’s first ROI Automation System. Built on over 10 years of experience, we manage the release workflow from start to finish better than anybody else. With our extensive HIPAA privacy and security tools and industry leading QA process, rest assured your organization will be fully compliant.

Verisma Systems

Venture Round in 2015
Verisma is a Release of Information (ROI) Technology and Services Company. Our patented, cloud-based platform is the industry’s first ROI Automation System. Built on over 10 years of experience, we manage the release workflow from start to finish better than anybody else. With our extensive HIPAA privacy and security tools and industry leading QA process, rest assured your organization will be fully compliant.

Verisma Systems

Private Equity Round in 2015
Verisma is a Release of Information (ROI) Technology and Services Company. Our patented, cloud-based platform is the industry’s first ROI Automation System. Built on over 10 years of experience, we manage the release workflow from start to finish better than anybody else. With our extensive HIPAA privacy and security tools and industry leading QA process, rest assured your organization will be fully compliant.

TRICAST

Venture Round in 2015
TRICAST is a pharmacy data analytics company utilizing industry expertise and powerful software tools to empower their clients. The company is navigating the complexities of today’s healthcare environment requires innovative solutions. To address these needs in a rapidly changing market, TRICAST has leveraged more than 25 years of technology and claims processing expertise, extensive client insight, and a team of industry experts. TRICAST specializes in providing pharmacy benefit management (PBM) consulting and services to customers throughout the United States, including Medicare eligibility audits, pricing audits, rejected claims analysis, Medicare eligibility audits, prescription drug event audits, rebate audits, request for proposal (RFP) services for PBM selection, and contract renegotiation services.

WiserTogether

Series B in 2014
WiserTogether’s personalized healthcare treatment comparison software enables consumers to choose the right treatment – most effective in the outcome, most personally suitable, and most cost-effective and affordable. The result is improved health and improved costs for consumers, their employers, payers, and providers. The company serves over 3 million people through their employers and health plans. It was founded in 2008 and is based in Washington, District of Columbia.

Apogee IT Services

Venture Round in 2014
IT terms like network support, security, data backup, and infrastructure are scary for many businesses. You may want to get rid of these burdens and have a provider you can trust to handle them (or to work seamlessly with your IT manager in-house). Apogee IT Services is a LOCAL managed services provider headquartered in Pittsburgh (Sewickley), with another office in Boston, MA. (They also have many clients in other states as well thanks to their ability to resolve many issues remotely.) When you choose us, you'll feel like they're an extension of your company - an advocate helping to provide the IT service and support that is critical for your daily operations.

CSA Medical

Series C in 2013
CSA Medical, Inc. develops and manufactures innovative spray cryotherapy medical devices aimed at the destruction of unwanted tissue in various medical fields, including dermatology, gynecology, and general surgery. The company's flagship product, the truFreeze spray cryotherapy device, utilizes cold liquid nitrogen as a cryosurgical tool, allowing for the targeted destruction of tissue while promoting the regeneration of healthy tissue. Additionally, CSA Medical offers the Rapid AV Spray Kit, which enhances the truFreeze system by reducing the time required for liquid nitrogen application. Founded in 1993 and originally known as Crymed Technologies, the company rebranded to CSA Medical in 2006 and is headquartered in Baltimore, Maryland, with a research and development facility located in Lexington, Massachusetts.

Local Voice Media

Series B in 2013
Local Voice Media, LLC, formerly known as Davis Media, LLC, is based in Williamsburg, Virginia, and operates a network of radio stations. The company focuses on fostering a sense of local community by providing trustworthy information and engaging entertainment to its audience. In addition to serving listeners, Local Voice Media aims to create effective marketing solutions for its advertisers, enhancing community connections and promoting local businesses.

PresenceLearning

Series B in 2013
PresenceLearning, Inc. offers online special education services, including speech therapy, occupational therapy, behavioral interventions, and mental health support, to K-12 students and school districts across the United States and Canada. Utilizing a web-based videoconferencing platform, the company connects schools and parents with a network of licensed speech-language pathologists and other specialists through a variety of online tools and evidence-based therapeutic activities. Founded in 2009 and headquartered in San Francisco, California, PresenceLearning has established itself as a leader in delivering clinical services via the internet, successfully providing over 2.5 million teletherapy sessions since its inception. The company, formerly known as Presence Telecare, Inc., rebranded to its current name in August 2011.

innRoad

Series B in 2012
InnRoad, Inc. provides software-as-a-service (SaaS) hotel management solutions. The company’s products include inroad, a SaaS hotel software solution that integrates property management, global distribution, bookings, integrated booking engine, central reservations, and marketing on a platform for independent hoteliers, small hotel chains, and hotel management companies. It also provides customer support, training, consulting, and customization services. InnRoad, Inc. was formerly known as InnRoad.com Inc. The company was incorporated in 2000 and is based in Southampton, New York.

CSA Medical

Series B in 2011
CSA Medical, Inc. develops and manufactures innovative spray cryotherapy medical devices aimed at the destruction of unwanted tissue in various medical fields, including dermatology, gynecology, and general surgery. The company's flagship product, the truFreeze spray cryotherapy device, utilizes cold liquid nitrogen as a cryosurgical tool, allowing for the targeted destruction of tissue while promoting the regeneration of healthy tissue. Additionally, CSA Medical offers the Rapid AV Spray Kit, which enhances the truFreeze system by reducing the time required for liquid nitrogen application. Founded in 1993 and originally known as Crymed Technologies, the company rebranded to CSA Medical in 2006 and is headquartered in Baltimore, Maryland, with a research and development facility located in Lexington, Massachusetts.

CipherOptics

Venture Round in 2011
CipherOptics, Inc. provides data security and network encryption, and compliance grade data protection solutions to security enterprises, financial institutions, health care, and government agencies. The company offers CipherEngine, which delivers network-wide encryption to customers by providing an approach to security policy and encryption key management; CipherView, which is a security gateway management application that provides security administrators with a device management tool; SoftRemoteLT, which offers features to remote access users connecting to the corporate VPN; and CipherEngine Enforcement Point family of encryptors that are encryption appliances designed for the carrier Ethernet and MPLS markets. The company also offers MPLS security, metro Ethernet security, disaster recovery and data replication security, and network application security services. The company has strategic partnerships with EMC Corporation, IBM, Intel, and Raza Microelectronics, Inc. CipherOptics, Inc. was founded in 2000 and is headquartered in Raleigh, North Carolina.