Caren Merrick

Caren Merrick has been serving as the Secretary of Commerce and Trade for the Commonwealth of Virginia since January 2022. In this role, she oversees 13 agencies, manages a budget of $3 billion, and leads initiatives aimed at fostering economic growth and creating a favorable business environment in Virginia.12

Professional Background

Merrick is a seasoned business leader with over 25 years of experience in launching and transforming companies. She co-founded webMethods, an enterprise software company, where she played a crucial role in its growth to a valuation of $200 million and its successful IPO, which was one of the most notable in the software industry at that time. The company was later sold to SoftwareAG for approximately $600 million.13

In addition to her work with webMethods, she founded Pocket Mentor, a mobile app focused on leadership tools, and is a partner at NextGen Venture Partners, where she invests in early-stage companies. Merrick has also held board positions in various public and private companies, managing assets totaling $12 billion and revenues of $3 billion across multiple sectors, including private equity and financial services.13

Virginia Ready Initiative

Merrick was the founding CEO of the Virginia Ready Initiative, a public-private partnership established to address economic challenges during the COVID-19 pandemic. Under her leadership, the initiative secured $10 million in funding to help Virginians gain skills in high-demand fields, successfully assisting over 7,000 individuals.134

Education and Personal Life

Merrick is a first-generation college graduate, having earned her B.A. from the University of California, Los Angeles. She has lived in Virginia since 1988 and is married with two adult sons.12