Venture Notes - February 8, 2016

Milt Capps updated 3 May 2016
Published Monday, February 8, 2016 5:15 pm

Venture Notes - February 8, 2016 | SertintyONE, Crom Carmichael, healthcare, capital, entrepreneurs, Digital Reasoning Systems, DRS, Claritas Capital, Kenneth Elzinga, Lincor, Mark Bacurin, Greg Taylor, SertintyONE, Echarge2, Hays Waldrop, Dan Schwartzbauer, EPIC Extremity, Flashpoint Candle, Drea Gunness Groeschel, Claritas Capital, Genomind, David Snider, Tech2020, Technology 2020, Hal Andrews,Tim Estes, Shareable, Shareable Ink, HCA, Goldman Sachs, Credit Suisse, Signix, Lemhi Ventures, Venture Notes,

SertintyONE in Brentwood (fka Echarge2) said Jan. 29 it had raised $3MM toward a $10.5MM goal for a business that, VNC research suggests, involves mobile software applications used to protect data, authenticate users, control access, prevent data loss and communicate threats, and send and deliver secure data. A trademark filing for SertintyOne was made by an attorney associated with Baker Donelson, according to online information. Greg Taylor is CEO.

Bacurin

► LINCOR CFO Mark Bacurin reported Jan. 20 raising nearly $2MM for the Brentwood-based HealthIT company, which is headquartered in Ireland.

Waldrop

FRANKLIN-based Hays Waldrop is associated with a filing regarding a $1.25MM raise for Pennsylvania-based EPIC Extremity, an orthopedic medical device implants company. CEO: Dan Schwartzbauer.

SIGNIX of Chattanooga said Jan. 25 it raised $5.4MM toward a $6MM goal. SIGNIX is an e-signature company. The update's here.

► MEDPASS Health recently reported raising $650K toward its earlier $1MM goal. Our updated story is here.

Groeschel

► CROM CARMICHAEL apparently stepped-up to support artisan candlemaker Drea Gunness-Groeschel, whose Flashpoint Candle outgrew the Farmer's Market and secured a production facility in LaVerge. Their recent filing showed $780K raised.

► CLARITAS CAPITAL is party to another Genomind filing today on a raise for personalized medicine that has $4MM headroom left, if you're interested. Previous story updated here.

► TECH2020 CFO David Snider is leading the previously reported wind-down of Technology2020, updated here.

DIGITAL REASONING SYSTEMS, the 16-year-old, private equity- and Angel-backed cognitive computing company based in Franklin is to be one of but a handful of local companies among the dozens interviewing Vanderbilt University School of Engineering students and doctoral candidates, during a career day this week. The company recently acquired the former Nashville startup Shareable (fka Shareable Ink) and Hal Andrews is heading up the new DRS Healthcare business. Andrews has developed a trackrecord of taking companies to their next level. DRS had a reported 70 employees in 2014 and has raised more than $52MM in six rounds according to CrunchBase, with more than $42MM of that coming in the past two years from Goldman Sachs, Credit Suisse, HCA and others. DRS's recent Jan. 29 filing showed the company still looking to raise another $17.4MM. In 2008, DRS Founder and still-CEO Tim Estes warned that Nashville needed some "big boys" to step-up to fund tech companies here. [DRS announced 3 May 2016 that its Series D came in at $40MM, with Lemhi Ventures and NASDAQ taking board seats. NASDAQ announced 23 February 2016 it is not only a customer of DRS, but has a position of undisclosed magnitude in DRS's projected $36MM Series D raise, completion of which would seem to put DRS at total nearly $70MM institutional capital. That number may not reflect the scores of individual investors who supported the company in its early days.]

The concepts that would become DRS were cultivated during Estes' years the University of Virginia, where Estes has said Prof. Kenneth Elzinga, Ph.D., was an important influence. Elzinga remains a DRS director. VNC


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