About Heritage Group
Heritage Group is a venture capital firm founded in 1986. It is primarily based out of Nashville, United States. As of Dec 2024, Heritage Group has invested in 60 companies. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to HealthTech and Life Sciences. Most recently it participated in the $***** PE round of Nationwide Medical Overall, Heritage Group portfolio has seen 3 IPOs and 23 acquisitions including key companies like Guardant Health, Sharecare and Celularity. A lot of funds co-invest with Heritage Group, with names like Nashville Capital Network sharing a substantial percentage of its portfolio. Heritage Group has team of 34 people including 9 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series A & 6 more
Portfolio IPOs
Portfolio Soonicorns
Heritage Group's List of Top Investments
Heritage Group has a portfolio of 60 companies. Their most notable investments are in Simplee and MD Live.Their portfolio spans across United States and India. They have invested in Enterprise Applications, HealthTech, Life Sciences and 6 other sectors, across stages such as Series B, Series A and 6 more. Here is the list of top investments by Heritage Group:
Developer of digital sequencing technology for cancer detection. The product Guardant360 offers real-time, biopsy-free tumor sequencing for the analysis and identification of tumor-associated treatment options. Also, it has developed analytical tools, including a tumor response map and a mobile-enabled physician portal.
Key facts about Guardant Health
- Founded Year: 2012
- Location: Redwood City (United States)
- Annual Revenue: $982M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $557M
- Employee Count: 4,541 as on Apr 30, 2026
- Investors: Orbimed, Acquisition Group and 25 Others
- Latest Funding Round: Post IPO, Nov 05, 2025, $*****
- Highlight: Public
2. Sharecare
Provider of health and wellness social network for employees. It offers a platform that provides personalized health-related information, programs, and resources to consumers. It provides tools for tracking health metrics such as weight, sleep, and activity levels, allowing users to manage their health. It allows users to fill out their profile with details like height, weight, age, insurance information, primary care physician, and current medications.
Key facts about Sharecare
- Founded Year: 2010
- Location: United States
- Annual Revenue: $445M as on Dec 31, 2023
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $64M
- Employee Count: 3,818 as on Apr 30, 2026
- Investors: Wellington, UNC Kenan-Flagler Private Equity and 25 Others
- Latest Funding Round: Series C, Oct 29, 2019, $*****
- Highlight: Acquired
3. Reputation
Cloud based reputation management platform for businesses. The platform allows companies to manage interactions through online reviews, satisfaction surveys, social media, and more. It also allows businesses to collect, analyze, and respond to customer feedback across various channels. It helps businesses improve customer experience and reputation management.
Key facts about Reputation
- Founded Year: 2006
- Location: San Ramon (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $269M
- Employee Count: 702 as on Apr 30, 2026
- Investors: August Capital, Icon Ventures and 21 Others
- Latest Funding Round: Series F, Feb 10, 2023, $*****
- Highlight: Editors' Pick
4. Celularity
Developer of allogeneic cell therapies to treat multiple diseases. The company focuses on placenta-derived cell therapy product candidates for cancer, infectious diseases, and degenerative diseases. The company's lead candidate is CYNK001 for acute myeloid leukemia and Glioblastoma.
Key facts about Celularity
- Founded Year: 2016
- Location: Warren (United States)
- Annual Revenue: $54.2M as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $290M
- Employee Count: 145 as on Apr 30, 2026
- Investors: Celgene, Sorrento Therapeutics and 8 Others
- Latest Funding Round: Post IPO, Dec 22, 2025, $*****
- Highlight: Public
5. MD Live
MD Live is a telehealth provider offering 24/7 consultations from nationwide doctors and therapists. The cloud-based platform enables patients, medical professionals, and plan administrators to collaborate securely via voice, video, email, and mobile devices. Also, can be accessed by users who are provided MDLIVE benefit by an employer or health plan. Provides service to individuals, healthcare providers, healthcare plans, and employers.
Key facts about MD Live
- Founded Year: 2009
- Location: Sunrise (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $174M
- Employee Count: 503 as on Apr 30, 2026
- Investors: Sixth Street, Industry Ventures and 14 Others
- Latest Funding Round: Conventional Debt, Sep 14, 2020, $*****
- Highlight: Acquired
Heritage Group's Year-on-Year Investment Trends
Heritage Group has invested in 61 companies over the last 16 years, with an average of 2 new investments annually in the last 10 years. Its most recent first time investment was in Nationwide Medical and most recent follow-on round was in Connections Health Solutions.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 1 | 1 | 2 |
2022 | 2 | 0 | 2 |
2021 | 3 | 1 | 4 |
2020 | 0 | 1 | 1 |
2019 | 0 | 2 | 2 |
2018 | 2 | 1 | 3 |
2017 | 3 | 1 | 4 |
Heritage Group's Investments by Stage
Heritage Group has made 12 investments in Series B stage with an average round size of $24.5M, 11 investments in Series A stage with an average round size of $6.99M and 4 investments in Seed stage with an average round size of $2M.Stage of entry | No. of Investments |
|---|---|
Series B | 12 |
Series A | 11 |
Seed | 4 |
Series C | 3 |
Series D | 2 |
Others | 4 |
Note: We have considered here, only first round of investments
Heritage Group's Investments by Sector
Heritage Group has a diverse portfolio, with companies operating in the Enterprise Applications, HealthTech, Vertical SaaS, Life Sciences and Healthcare. Notably, it has invested in 42 Enterprise (B2B) companies, 40 Tech companies, 30 Software companies and at least 17 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 21 |
HealthTech | 21 |
Vertical SaaS | 10 |
Life Sciences | 6 |
Healthcare | 5 |
Others | 9 |
Note: We have considered here, only first round of investments
Heritage Group's Investments by Geography
Heritage Group has made most investments in United States (36).Heritage Group's recent investments
Heritage Group has not made any investment in 2026 so far.Here are the most recent investments by Heritage Group:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 12, 2024 | United States | PE | 3122 | - | |
Oct 06, 2023 | United States | Series C | 1878 | ||
Mar 10, 2023 | United States | Series B | 1368 | [+1] | |
Dec 23, 2022 | United States | Series C | 9629 | [+8] | |
Jul 12, 2022 | United States | Series B | 9411 | - |
IPOs and Publicly Listed companies in Heritage Group's Portfolio
3 of Heritage Group's portfolio companies have become public. Caribou Biosciences got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jul 2021 at marketcap of $907M and Celularity got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of undefined.Here are Heritage Group's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 23, 2021 | May 24, 2016 | Series B | 8825 | |
Aug 08, 2019 | Feb 15, 2018 | Series D | 5174 | |
Oct 04, 2018 | Jan 07, 2016 | Series D | 6257 |
Acquired companies in Heritage Group's Portfolio
23 companies from Heritage Group's portfolio have been acquired. The most recent acquisition was Traitify in Mar 2026 by Crosschq for $*****.Here are Heritage Group's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 31, 2026 | Aug 13, 2013 | Seed | 4323 | |
Jun 21, 2024 | Sep 26, 2013 | Series A | 9043 | |
Aug 02, 2021 | Mar 19, 2013 | Series A | 6166 | |
Jun 25, 2021 | - | - | 1042 | |
Apr 16, 2021 | - | - | 7787 |
Team profile of Heritage Group
Heritage Group has a team of 34 members including 9 Partners and 3 Principals located in United States. Heritage Group's team sits on the board of 1 company.Here is a list of top team members in Heritage Group:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Nashville | - | ||
Partner | Nashville | - | ||
Partner | Nashville | - | ||
Partner | Nashville | |||
Partner | New York City | - | ||
Partner | Nashville | - | ||
Partner | Santa Monica | - | - | |
Partner | Anaheim | - | - | |
Partner | Lancaster | - | - | |
Principal | Nashville | - | ||
Principal | Nashville | - |
Co-investors of Heritage Group
Over the past 16 years, 192 investors have co-invested in Heritage Group's portfolio companies. This includes funds and angels.
- Invested before Heritage Group: Bessemer Venture Partners, Icon Ventures and 74 others have invested in rounds before Heritage Group. There are 2 companies where Bessemer Venture Partners has invested before Heritage Group and 2 companies where Icon Ventures has invested before Heritage Group.
- Top Co-investors of Heritage Group: 58 investors entered a company along with Heritage Group. These include investors like Nashville Capital Network (3 companies).
- Invested after Heritage Group: A total of 58 investors have invested in Heritage Group's portfolio after their investments. Top Investors include The Heritage Group (3 companies), Industry Ventures (2 companies) and New Enterprise Associates (2 companies).
Recent News related to Heritage Group
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Persperity Health Raises $1M to Develop Sweat-Based Hormone Monitoring TechnologyFemtech Insider•Nov 01, 2024•Persperity Health, FreeFlow, Caltech, Wilson Hill and 4 others
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GTCR: In advanced talks on the acquisition of German pharmaceutical industryMoneyreview•Sep 11, 2024•GTCR, Stada, Heritage Group, Equiti
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Heritage Group Announces the Launch of its Executive Advisory BoardBusiness Wire•Jun 13, 2023•Heritage Group
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Wellvana Health announces $84 million capital raise to drive innovation in value-based care enablementTullahoma News•Mar 28, 2023•Wellvana, The Heritage Group, Valtruis, Heritage Group and 4 others
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Power Heritage Group’s HK$1.291 Billion Proposed Privatization of Jiangnan GroupGlobal Legal Chronicle•Feb 25, 2023•Heritage Group, Jiangnan Group
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Heritage invests $20M in acute care telehealth companyNashville Post•Aug 25, 2021•Heritage Group, EQUUM Medical, The Heritage Group
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