Profile

Great Hill Partners is a Boston-based private equity firm that targets investments of $100 million to $500 million in high-growth, disruptive companies across five core sectors: software, digital commerce, financial technology, healthcare, and digital infrastructure. Over the past 25 years, Great Hill has raised over $12 billion of commitments across eight funds and invested in nearly 100 companies, establishing an extensive track record of building long-term partnerships with founders and entrepreneurs to help middle-market industry pioneers achieve their full potential. With an individualized approach to each of its investments, Great Hill is a long-term growth-oriented investor and serves as a true partner to its portfolio companies’ management teams.

As part of its focus on value creation, Great Hill provides robust executive networks, deep domain expertise and strategic counsel to accelerate portfolio company growth and enhance strategic value. Great Hill has a dedicated Growth team that works hand-in-hand with the firm’s investment teams and portfolio companies to accelerate businesses by optimizing efforts across go-to-market, customer acquisition, product expansion and talent initiatives, as well as geographic expansion and sourcing strategic acquisitions.

Awards

2023 Top 40 Under 40 Growth Investors, Joe Germanese, Chris Govey

2023 Top Software Investors, Matt Vettel, Chris Busby

2023 Top Private Equity Firms

2023 Top Women Leaders in Growth Investing, Veda Eswarappa

2023 Top 25 Healthcare Investors, Mark Taber

2022 The Top 25 Growth Equity Firms

2022 Top 25 Private Equity Firms

2022 Top Women in Growth Investing, Veda Eswarappa

2021 Top 25 Growth Equity Firms

2021 Top 25 Software Investors, Chris Gaffney, Matt Vettel

2021 Top 25 Private Equity Firms for Growth Companies

2021 Top 25 Healthcare Investors, Mark Taber, Rafael Cofiño

2020 Top Women in Growth Equity and Private Equity, Alison Holmes

2019 Top 40 Under 40 Growth Investors, Drew Loucks, Craig Byrnes

2018 Top 40 Under 40 Growth Investors, Rafael Cofiño, Nick Cayer, Drew Loucks, Craig Byrnes

2017 Top 40 Under 40 Growth Investors, Rafael Cofiño, Nick Cayer, Drew Loucks

2016 Top 40 Under 40 Growth Investors Drew Loucks

Key People

Chris Gaffney, Managing Director & Executive Committee Member  

Chris Gaffney co-founded Great Hill Partners in 1998 to provide successful executives with the funding and support needed to build enterprise class businesses. As a member of the firm’s Executive and Investment committees, Chris is responsible for transaction origination, investment policy, fundraising, investor relations and the general management of the firm. Over the course of his more than 30-year career in private equity, Chris has participated in over 100 acquisitions covering a range of industries and has served on the boards of over 50 companies.

Prior to founding Great Hill Partners, he was a General Partner at M/C Partners and worked at the First National Bank of Boston. He holds a bachelor’s degree in accounting and economics from Boston College.

Michael Kumin, Managing Director & Executive Committee Member

Michael Kumin is a Managing Director at Great Hill Partners, where he has worked since 2002. As a member of the firm’s Executive and Investment committees, he is responsible for transaction origination, investment policy, fundraising, investor relations and the general management of the firm. Over the course of his career, he has participated in investments covering a range of industries, including digital commerce, software and media/information services.

Prior to joining Great Hill, he held roles at Apollo Advisors and Goldman Sachs, and co-founded Creative Planet, a venture-backed information and technology company targeting the entertainment industry. He holds a bachelor of arts degree in public policy and international affairs from Princeton University.

Mark Taber, Managing Director & Executive Committee Member

Mark Taber is a Managing Director at Great Hill Partners, where he has worked since 2000. As a member of the firm’s Executive and Investment committees, he oversees investment policy, investor relations, fundraising, strategy and general management of the firm. He leads Great Hill’s healthcare team, overseeing the firm’s investment in disruptive growth companies seeking to lower overall costs while improving health outcomes and patient experiences.

Prior to joining Great Hill, he held roles at the Boston Consulting Group and the Westlake Capital Group. He holds a bachelor of arts in public policy from Duke University, and an MBA from the Kellogg School of Management at Northwestern University.

Matt Vettel, Managing Director & Executive Committee Member

Matt Vettel is Managing Director at Great Hill Partners, where he has worked since 1999. As a member of the firm’s Executive and Investment committees, he is responsible for transaction origination, investment policy, fundraising, investor relations and the general management of the firm. He leads Great Hill’s investments in the financial technology and software sectors.

Before joining Great Hill, he held roles at Accenture and GTCR Golder Rauner. He was also a founding member of PureSpeech, a maker of speech recognition technology that was acquired by Voice Control Systems Inc. He holds a bachelor of science in industrial engineering and management from North Dakota State University and an MBA from Harvard Business School.

Chris Busby, Managing Director

Chris Busby is Managing Director at Great Hill Partners, where he has worked since 2000. As a member of the Fund VIII Investment Committee, he is responsible for transaction origination and investment policy. He leads Great Hill’s investments in the digital infrastructure and software sectors.

Prior to joining GHP, he was an Analyst in the investment banking division of JP Morgan and an Associate at GCC Investments. Chris earned a degree in political science and history from the University of North Carolina Chapel Hill and an MBA from Harvard Business School.

Craig Byrnes, Managing Director

Craig Byrnes is Managing Director at Great Hill Partners, where he has worked since 2013. Craig is responsible for transaction origination and leads investments in the healthcare and software sectors.

Before joining Great Hill, Craig was an Associate at Frontenac Company, a Chicago-based middle market private equity firm. Prior to Frontenac, he was an Analyst at J.P. Morgan and a Derivatives Trader at DRW Trading Group. Craig earned a degree in economics and psychology from Duke University and an MBA from the Kellogg School of Management at Northwestern. Craig is also a CFA charter holder.

Nick Cayer, Managing Director

Nick Cayer is Managing Director at Great Hill Partners, where he has worked since 2006. Nick is responsible for transaction origination and leads investments in the financial technology and software sectors.

Prior to joining Great Hill, Nick was an Associate at CCP Equity Partners, a growth equity capital provider to financial services and healthcare services companies. Prior to CCP, he was an Associate at GE Commercial Finance’s National Restructuring and Retail Finance Group. Nick earned a degree in finance from Bentley College, where he graduated with honors.

Rafael Cofiño, Managing Director

Rafael Cofiño is Managing Director at Great Hill Partners, where he has worked since 2012. Rafael is responsible for transaction origination and leads investments in the healthcare and software sectors.

Before joining Great Hill, he was a Vice President at Battery Ventures. While at Battery, Rafael was involved in investments with ExactTarget, Internet Brands, Sprinklr, and Wayfair. Prior to Battery, Rafael spent a number of years with Technology Crossover Ventures, Goldman Sachs, and RBC Capital Markets. Rafael earned a degree in finance from The University of Texas at Austin and an MBA from the Harvard Business School.

Drew Loucks, Managing Director

Drew Loucks is Managing Director at Great Hill Partners, where he has worked since 2010. Drew is responsible for transaction origination and leads investments in the digital infrastructure and software sectors.

Prior to joining Great Hill, Drew was an Associate at Tudor Ventures, the private equity arm of Tudor Investment Corporation. Prior to Tudor, he worked in various roles at Jefferies Investment Bank in the capital markets division. Drew earned a degree in economics and government from Bowdoin College and an MBA from the Tuck School of Business at Dartmouth.

Funds Raised

In its 25 years of operating, Great Hill has raised over $12 billion across eight flagship funds that have consistently increased in size. In January 2022, Great Hill closed its eighth fund, with total commitments of $4.65 billion and significant demand exceeding the original $3.5 billion target. Great Hill’s investment strategy has remained consistent since it was founded and has driven continued, increased investor interest in Great Hill’s successive flagship funds.

Key Investments

AffiniPay: Invested September 2015, exited February 2020, acquired by TA Associates
Sector: Payment Processing

Payment services provider to member-based organizations, with a focus on the legal market

Ascenty: Invested January 2011, exited February 2019, acquired by Digital Realty
Sector: Data Centers

Provider of wholesale data center services and high bandwidth fiber connectivity in Brazil

Bombas: Invested June 2018
Sector: Digital Commerce – Apparel

Multi-channel retailer of premium quality socks and other apparel basics that operates a “buy-one-give-one” model whereby a pair of socks purchased = a pair donated to someone in need

Enterprise DB: Invested June 2019
Sector: Data Management Software

Database management system for PostgreSQL, an open source relational database

One Inc.: Invested January 2020
Sector: Payment Processing

Software and integrated payment processing solutions for the insurance industry

PartsSource: Invested May 2017, Exited August 2021, acquired by Bain Capital
Sector: Healthcare IT – Supply Chain

eCommerce provider of medical replacement parts and supplies procurement solutions to hospitals, outpatient clinics and physician clinics, automating the entire procurement process from product sourcing to financial settlement, incorporating proprietary analytics to optimize compliance, workflow, efficiency, cost, and quality

RxBenefits: Invested January 2016
Sector: Healthcare – Pharmacy Benefits Management

Pharmacy benefits optimization platform providing prescription drug benefits at lower costs and enhanced service to self-funded employers

Wayfair: Invested Fund IV June 2011; Fund VII March 2020; Fund VIII April 2022, exited Fund IV – August 2017 (public market exit); Fund VII – January 2021 (public market exit); Fund VIII – Active
Sector: Digital Commerce – Home

Online retailer of home goods with operations in North America (US, Canada) and Europe (UK, Germany)

ZoomInfo: Invested August 2017, exited February 2019, acquired by DiscoverOrg
Sector: B2B Information Services

Provider of company and contact information to B2B sales and marketing professionals across a wide range of industries

Capital Responsibility

ESG is a key aspect of Great Hill’s operations and investment philosophy. Great Hill invests in companies and management teams that have integrity, are accountable for their social and environmental impacts, and have governance in place to improve those impacts. The Great Hill team considers ESG factors as important inputs in the investment process to improve performance and reduce risks and recognizes that integrating material ESG considerations into investment decisions benefits their portfolio companies, their employees, and the local communities in which they operate.

As an investor, Great Hill looks to instill transparency, corporate responsibility, and ethics throughout its portfolio companies, and encourages management teams to do the same. The firm takes ESG considerations into account during the due diligence process and identifies a subset of ESG issues that are included in its investment opportunity case. Post-investment, Great Hill collaborates with its portfolio companies to advance responsible investment principles in its operations. Great Hill actively monitors each company’s ESG performance and partners with management teams to ensure its portfolio companies are leading the way in responsible business.

Great Hill is also committed to building diversity at the firm as the firm believes great ideas come from a varied set of backgrounds, beliefs, and life experiences. Great Hill collaborates with its portfolio companies to promote multicultural workplace environments that they believe lead to better decision-making, and broaden their opportunities and drive innovative thinking. Great Hill’s efforts to achieve diversity and inclusion include specific plans and goals for the firm and partner companies. For example, Great Hill has committed to placing at least one female or BIPOC member on the boards at each of its portfolio companies.

Great Hill is committed to giving back to the communities in which it works. The GHP Foundation is a corporate philanthropy initiative that strives to encourage Great Hill employees to donate time and money to causes for which they are passionate. The firm has also established quarterly in-service days for all team members.

CEO Reviews

Amy Porter, Founder, Former CEO, & Executive Chairman, AffiniPay

“Great Hill not only had experience investing in tech-driven companies, but they understood the value of our channel-based go-to-market strategies.”

Niraj Shah, Co-Founder & CEO, Wayfair

“Their industry knowledge, capital markets expertise, and pragmatic advice through both ups and downs have made them a trusted advisor to our entire team.”

Bryan Statham, Former CEO, & Vice Chair of the Board, RxBenefits

“GHP guided us in building a go-to-market playbook (still in operation today), fueling revenue from less than $20 million to $150+ million in under 5 years.”

Dave Heath, Co-Founder & CEO, Bombas

“We met 40+ PE firms, but GHP stood out with their founder-focused approach and encouragement to think about our business in ways we hadn’t yet considered.”

Yonatan Stern, Founder & Former CEO and Chief Scientist, ZoomInfo

“They did what they promised to do without imposing any burden or extra work, while providing help and support where we can use it.”

Julie Wainwright, Founder & CEO, The RealReal

“Great Hill understands what it takes to scale businesses. Their insights have given us the edge to succeed, and they are good partners to founders.”

David Klements, Former CEO, Qualifacts

“Great Hill provided a practical strategic framework and a true partnership approach to building our business. Plus, working with them is a lot of fun.”

Christopher Ewing, CIO & Founder, One Inc

“Our first order of business with Great Hill was to acquire a major competitor, giving us real power in the market and nothing but opportunity ahead.”

Prashanth Palakurthi, Founder & CEO, Reflexis

“They helped us execute an aggressive growth strategy that scaled our company into an industry leader and a must-have asset for a large strategic buyer.”

Andrew Robbins, Co-Founder & CEO, Paytronix

“Great Hill has helped us double our sales force and engineering team. Recently, they advised as we purchased a company, allowing us to enter a new space.”

Chris Torto, Former CEO, Vivax & Ascenty

“Their experience, resources, and guidance were instrumental in helping us develop competitive advantages and reach strong outcomes.”