Shegun Otulana’s story is tied to Birmingham in a way many business profiles only hint at: he landed here to study, built a company that reached national scale, and — instead of leaving after a lucrative exit — chose to remain and reinvest in the city’s startup ecosystem.
From UAB classrooms to a historic exit
Otulana moved to Birmingham to attend the University of Alabama at Birmingham, where he earned a bachelor’s degree in management and information systems in 2003. He stayed in the city after his first job, citing relationships and a trusted community as major reasons he made Birmingham home.
In 2013 he founded TheraNest, a practice-management software platform serving mental and behavioral health providers. The platform scaled nationally and later became part of Therapy Brands. In 2021 the venture reached a milestone when it sold in a deal valued at $1.25 billion, a transaction reported as one of the largest software sales in the Southeast and the largest in Alabama at the time.
Turning problems into companies — and jobs
Now, Otulana is channeling that experience into founding and funding new ventures through Harmony Venture Labs, a vehicle aimed at converting industry problems into portfolio companies. He outlined his motivations during a conversation at Sloss Tech 2026 in June.
“The places that nobody’s paying attention, the unseen places, the places where nobody’s focusing, sometimes just have the best opportunities,”
That outlook informs his decision to base entrepreneurial efforts in Birmingham rather than relocating to more traditionally recognized tech hubs. His parents’ example — building multiple businesses in Nigeria from small beginnings — also shaped his approach to entrepreneurship and community responsibility.
- Education: UAB, BS in management and information systems, 2003
- Company founded: TheraNest, 2013
- Exit: Therapy Brands sale, 2021 — $1.25 billion
- Current focus: Harmony Venture Labs — building and investing in startups
Local consequences and context
For Birmingham, Otulana’s continued presence and investment matter in concrete ways. Seed-stage capital and founder experience are critical gaps for the city’s tech and health-tech ecosystems; local entrepreneurs frequently point to access to capital, mentorship and scaled operational experience as hurdles when trying to grow companies from Birmingham. Harmony Venture Labs represents an effort to close some of those gaps by turning sector-specific pain points into new businesses — with the potential to create jobs, retain talent and attract follow-on investment.
At a moment when the Birmingham region is promoting growth across healthcare, fintech and software services, a local founder who has navigated the path from startup to a nine‑figure exit can serve as both a capital source and a model for other founders. Otulana’s background — shaped by seeing his parents build businesses in Nigeria and by his own work building a national software platform — gives him an operational perspective that can be valuable to founders beyond just check-writing.
What to watch
Residents and entrepreneurs in Birmingham should look for signs of Harmony Venture Labs’ activity in the coming months: company launches, pilot partnerships with local providers, mentorship programs, and any announcements of hiring or accelerator cohorts. These will be the first indicators of whether the lab’s work translates into sustainable startups and jobs in the region.
| Year | Milestone |
|---|---|
| 2003 | Otulana graduates from UAB (BS, management & information systems) |
| 2013 | Founds TheraNest |
| 2021 | Therapy Brands sale — $1.25 billion |
| 2026 | Discusses Harmony Venture Labs and Birmingham at Sloss Tech |
Otulana’s choices underscore a larger point for Birmingham: local talent with national experience can be a catalyst for growth if they choose to invest time, capital and expertise back into the city. Harmony Venture Labs will be one clear test of that thesis.
