Gray Ventures Announces Follow-On Investment in GOCare

Atlanta, Georgia, December 31, 2023 – Gray Ventures, an Atlanta-based venture capital firm focused on early-stage companies and entrepreneurs in the Southeastern United States, is pleased to announce the firm’s second investment in NuTEQ Solutions Inc. (d/b/a GOCare) (“GOCare”) through its fourth fund, Gray Ventures IV, to support GOCare’s continued growth.

GOCare has established itself as one of the most innovative and responsive Digital Experience Platforms (DXP) available. Currently servicing the broadband and utility markets, GOCare’s SaaS offerings deliver higher operating margins for clients while improving subscriber experience and retention by enabling the highest-quality customer care. The GOCare platform facilitates seamless communications between broadband provider agents and their subscribers over any channel. In this way, GOCare clients allow their subscribers to define their own experience with each contact – via SMS, webchat, social media, email, and more. GOCare is slowly employing AI in their solution set to ensure client subscribers are not forced to ‘talk to a machine’ over an already improved platform.

The new capital allows GOCare to continue the team’s balanced approach of profitable sales growth while providing the necessary personnel in service delivery, product development, account management, and other key areas of the Company. GOCare delivered a record number of contracts in the fourth quarter providing strong momentum entering 2024.

GOCare founders Mike Roddy (CEO) and Rick Perkins (CTO) will continue to lead the Company through this next growth phase. GOCare prides itself on the management team’s deep experience as former broadband operators. Our relevant industry knowledge complements client expertise in delivering customer-first solutions.

“The broadband and utility industries recognize GOCare’s proven operational gains on behalf of clients resulting in significant growth in 2023,” noted Berny Gray, CEO of Gray Ventures IV, LLC. “We are proud to support the GOCare team with additional growth funding and look forward to the continued strong performance into 2024 and beyond. Despite the significant increase in broadband competition, most people are all too familiar with the challenges of contacting their service providers. We believe GOCare delivers a significant solution to an enormous challenge,” concluded Mr. Gray.

“Berny Gray and Alex Gray have been wonderful partners over the past eighteen months,” stated Mike Roddy. “They were naturally the first resource we turned to when seeking additional funding. We are thrilled to have a partner like Gray Ventures that shares our excitement and vision for the pursuit of this tremendous opportunity,” concluded Mr. Roddy.

GOCare  provides software solutions to the broadband and utility industries. GOCare is a complete digital experience platform, including proprietary SMS Chat functionality, Secure Payments, multi-platform NPS scoring, and a sophisticated analytics engine allowing clients to benchmark their performance against other similar operators. GOCare was founded by telecom industry-veterans and incorporates its mission of “By Operators, For Operators” into how they partner with broadband industry leaders such as Vexus Fiber, Point Broadband, Bluepeak, and many others. For more information visit www.gocarecx.com

Founded in 1991 and based in Atlanta, Gray Ventures is a private investment company established to support entrepreneurialism in the Southeast. Gray Ventures’ first two funds—GVI and GVII —invested in 35 pre-revenue companies with a geographic focus on Atlanta and the Research Triangle Park (RTP) in North Carolina. Gray Ventures launched its third fund, GVIII, in 2010 as a fund of funds, supporting 25 early-stage funds in the Southeast, with investments focused on IT and healthcare.

With GVIV, Gray Ventures will return to direct investing, supporting seasoned entrepreneurs who are seeking to create disruptive solutions for large, growing, and dynamic markets. GVIV will focus on early-stage software companies with clear competitive advantages, serving IT, telecom, and tech-enabled industries. As was true with the first three funds, GVIV will invest exclusively in the Southeastern United States.

For more information, please contact:

Gray Ventures:

Bernard Gray

Founder & President, Gray Ventures

(404) 861-8959

Mike Roddy

CEO

(770) 314-4244