Carl Theobald

Operating Partner, Co-Head of Software Group and Co-Head of Operations Resources Group

Carl joined Gryphon in 2019 and is Co-Head of Gryphon’s Software Group and Co-Head of Gryphon’s Operations Resources Group. Carl works closely with the management teams of Gryphon’s software portfolio companies to maximize short and long-term operating and financial performance. He also assists Gryphon deal teams in identifying, evaluating and executing investments. Current Gryphon portfolio company board appointments include Meazure Learning, Ncontracts, RegEd and Rootstock. Carl previously served on the board of FieldRoutes.

Carl is a seasoned software executive with more than 30 years of experience driving rapid growth for software and SaaS companies through innovation, product vision and efficient execution.


  • RichRelevance, CEO and Member of the board – Steered this leader in AI-driven personalization, driving ecommerce growth and brand loyalty for over 200 of the world’s largest B2C and B2B brands and retailers. Rebuilt the executive team and entire sales organization while introducing new innovative products. The team achieved five consecutive quarters of growth after years of decline, leading to the successful sale of the company to a strategic buyer.
  • FollowAnalytics, CEO and Member of the board – Led this SaaS provider of mobile marketing automation solutions for the Global 1000. Grew bookings annually through strategic partnerships and product line expansion, ultimately leading to a successful Series B investment.
  • Verifone, CEO and Member of the board – Directed this leading digital commerce and payments platform, driving recurring revenue growth for over 17,000 customers worldwide. Carl scaled the company substantially, leading to its successful sale to Francisco Partners.
  • Serena Software, SVP of Products & Customer Service – Drove product innovation, including launching the company’s first SaaS solutions, shifting substantial R&D resources offshore and increasing the company’s operating margin expansion. Initiatives led to a successful exit to Silver Lake, which took Serena private in 2006.
  • Rubiconsoft, Co-Founder & VP of Engineering.
  • Oracle, VP of CRM and multiple other executive roles within the product organization
  • Novasoft Systems, Development Manager.


B.S., Electrical Engineering, Princeton University
M.S.E., Engineering–Economic Systems, Stanford University


Michael Crichton and Neal Stephenson