Profile

Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, internet, and consumer sectors. Founded in 2010, Volition has over $1.7 billion in assets under management and has invested in and/or provided sub-advisory advice to more than 60 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses.

www.volitioncapital.com

Awards

2025 Top Women Leaders, Top Software Investors, Top Growth Equity Firms

2024 Top Growth Equity Firms, Top 40 Under 40 Growth Investors, Top Software Investors, Top Women Leaders

2023 Top Growth Equity Firms, Top 40 Under 40 Growth Investors, Top Software Investors, Top Women Leaders, Best Growth Investment Firms

2022 Top 40 Under 40 Growth Investors, Top Women Leaders, Best Growth Investment Firms

2021 Top 40 Under 40 Growth Investors, Top Growth Equity Firms

2020 Top Growth Equity Firms, Top 40 Under 40 Growth Investors

2016 Top 40 Under 40 Growth Investors

2015 Top 40 Under 40 Growth Investors

Features

Growth Equity Entrepreneurs: Volition’s Larry Cheng and Sean Cantwell

GrowthCap’s RJ Lumba spoke with Larry Cheng and Sean Cantwell on September 18, 2024. Larry and Sean are Co-Founders and Managing Partners at Volition Capital, a growth equity firm they founded in 2010.

Key People

Sean Cantwell, Managing Partner

Sean Cantwell is a managing partner and member of the founding team at Volition Capital. He focuses primarily on companies in the software and tech-enabled services sectors. Sean’s current board directorships and investments include ABCS Insights, Automatiq, Black Kite, Cohora, Creatio, Digital Onboarding, Growth Signals, hackajob, Kombo, OneDay, Millions, Tracelink, Zenarate.

Larry Cheng, Managing Partner

Larry Cheng is a managing partner and member of the founding team at Volition Capital. He focuses on investment opportunities in transactional Internet applications, e-commerce, digital health, and next-generation consumer brands. Larry currently serves on the boards of Burst, Grove Collaborative, Levanta, Recycle Track Systems (RTS), Rounds, Screenverse, Sensible Care, Statusphere, Super73, and US Mobile.

Roger Hurwitz, Founding Partner

Roger Hurwitz is a managing partner and member of the founding team at Volition Capital. He primarily focuses on investments in software and technology-enabled business services. Roger currently serves on the boards of Bond-Pro, ButterflyMX, Creatio, HAAS Alert, Messagepoint, PetScreening, Relish, Qure4U, and Securonix. 

Jim Ferry, Partner

Jim Ferry is a partner at Volition Capital. He focuses on internet and consumer investments, specifically consolidation platforms, the movement of physical things, ad tech, marketplaces and other internet transactional businesses. Jim serves as a member on the boards of Doing Things, Aditude, Linkby, Revi, and Rounds. He is a board observer on Automatiq and ButterflyMX.

Tomy Han, Partner

Tomy Han is a partner at Volition Capital. He focuses on software and internet investments in physical AI, compliance, security, supply chain, and vertical applications. Tomy serves on the boards of BusRight, HALOS, LettrLabs, Pramata, and Qure4U. He is a board observer at ButterflyMX and Creatio.

Funds Raised

Key Investments

ABCS Insights: Invested in 2025
Sector: AdTech, Data & Analytics

ABCS Insights makes media more valuable through better measurement. ABCS is the industry’s only independent company completely dedicated to marketing effectiveness measurement across all marketing channels.

HALOS: Invested in 2024
Sector: SaaS, Hardware, Security

HALOS Body Cams is a body camera and digital asset management platform for the private and public security sectors. HALOS enables teams to manage custody of cameras and video evidence in a compliant manner to help mitigate risk and deter public violence.

Grove Collaborative: Invested in 2023
Sector: Home & Personal Care

Grove Collaborative Holdings, Inc. (NYSE: GROV) is the one-stop online destination for sustainable everyday essentials. Driven by the belief that changing the world starts with what you bring into your home, Grove creates and curates household cleaning, personal care, health and wellness, laundry, clean beauty, baby, and pet care products from over 240 brands that help you Go Beyond Plastic.

Relish: Invested in 2023
Sector: SaaS, AI, Procurement

Relish provides solutions for businesses to optimize procurement systems and processes. The platform protects against third-party risk, validates supplier data, and automates invoicing. Relish’s AI-powered Procurement Assistant seamlessly integrates into existing systems and uses natural language conversations to provide real-time answers on spend analysis and other core procurement functions.

Zenarate: Invested in 2023
Sector: SaaS, AI

Zenarate provides a conversation simulation training solution for enterprise call center agents. Its flagship offering, AI Coach, serves as a virtual role-play partner for agents to rehearse various call types. Like a flight simulator for a pilot, reps can practice live interactions and receive immediate or post-interaction feedback based on their performance relative to the best-practice criteria defined by the client.

Digital Onboarding: Invested in 2023
Sector: SaaS, FinTech

Digital Onboarding provides a digital engagement platform built specifically for banks and credit unions to grow and service existing customer relationships. The company’s platform enables financial institutions to engage with customers via targeted, journey-based communication and action-oriented microsites to drive account primacy.

ButterflyMX: Invested in 2020, partially realized in 2024
Sector: SaaS, Hardware, PropTech

ButterflyMX provides a complete property access solution and a secure, convenient, and cost-effective way to manage and grant access on the go. The solution enables building tenants to open doors, gates, and elevators with a smartphone. It eliminates building wiring and in-unit hardware, and saves time by integrating with popular access control and property management systems.

Connatix: Invested in 2017, partially realized in 2021
Sector: AdTech, GTM Technology

Connatix provides a native video monetization and syndication platform for publishers and video content creators. The company’s solution helps publishers and advertisers deliver premium video experiences. The end-to-end platform features an industry-leading video player, optimization engine, and suite of turn-key video monetization formats that enables publishers to amplify video revenue while delivering engaging experiences. 

Black Kite: Invested 2021
Sector: SaaS, Cybersecurity & Risk Management

Black Kite provides a third-party cyber risk monitoring platform focused on improving the health and safety of the entire planet’s cyber ecosystem with the industry’s most accurate and comprehensive cyber intelligence. Black Kite provides the only standards-based cyber risk assessments that analyze a company’s supply chain’s cybersecurity posture from three critical dimensions: technical, financial, and compliance.

US Mobile: Invested in 2021
Sector: Mobile & Wireless Connectivity

US Mobile is an industry-leading hybrid network operator founded under the premise of liberating American mobile users from expensive and inflexible contracts.

Creatio: Invested in 2021
Sector: SaaS, CRM, Business Process Management

Creatio provides a no-code platform to automate workflows and CRM with a maximum degree of freedom. The company combines an intuitive low-code platform, best-in-class CRM and a robust BPM in a single solution to accelerate sales, marketing, service and operations and empower mid-size and large enterprises to automate and change their business processes at speed and scale. 

Capital Responsibility

As part of Volition Capital’s mission to help founders achieve their dreams without risking them, the firm is committed to engaging with every company it invests in with a “portfolio of one” mindset. Volition actively partners with each of its 40+ portfolio companies and works closely with leadership teams to build world-class companies post-investment. This includes access to Volition Edge, a proprietary platform that provides access to shared best practices, shared learning, and industry experts from combined decades of experience.

Additionally, Volition Capital as a firm has been carbon-neutral since 2022. Volition partnered with Climate Partner to audit business operations and understand (and reduce) its carbon footprint. By analyzing emissions, Volition was able to offset the carbon emissions they produce as a firm by investing in projects that specialize in reducing carbon and improving environmental efforts. To put words into action, the firm has invested in Plastic Bank Worldwide, Hydro Power in DR Congo, and Wind energy in Brazil.

CEO Reviews

Paul Paget, CEO Black Kite

“From the introductory meeting, through due diligence, through operating as partners for over three years the Volition team has been outstanding to work with. Managing Partner Sean Cantwell and Partner Tomy Han have been with us at every step. Additionally, Volition’s talent team helped us recruit and build a go to market team that is the envy of the third-party cyber risk business.”

Aaron Rudenstine, CEO of ButterflyMX

“Since day 1, Volition Capital Managing Partner Roger Hurwitz and the Volition team pushed us to control our destiny by optimizing for capital efficient growth.  Their guidance and partnership along the journey enabled us to become an at scale leader in the access control industry.”

David Weinfeld, Screenverse CEO

“We chose to partner with Volition Capital because of the many ways they could be accretive beyond their financial investment. They have proven that to be true across their entire organization. We are still less than a year from Volition’s Series A investment, and I can’t imagine not having them on our team. They trust our vision, and we trust their insights, advice, and support. It makes for a great partnership.”

Katherine Kostereva, Creatio CEO

“When I think of an ideal partnership, Sean and Roger, Volition Capital Managing Partners, immediately come to mind. What sets them apart is their genuine care and passion for helping their companies thrive. The entire Volition team is known for going above and beyond to support entrepreneurs in achieving their goals.”