Sale of Nashville startup nets $430 million for investors

Sep 27, 2019

Credit confirmation.com

NASHVILLE, Tenn. (OSBORNE)  -- The recent multi-million dollar sale of a Nashville startup company suggests the mid-state’s technology sector is accelerating and maturing. 

Nashville Business Journal technology reporter Joel Stinnett says the recent sale of Confirmation.com netted roughly $430 million for investors.

The online company allows organizations to exchange financial information quickly and securely. Vanderbilt grad and Nashville resident Brian Fox developed the software.

Stinnett says the sale of Confirmation.com adds to Nashville’s reputation as an emerging U.S. technology hub. He notes that a number of tech giants have now opened offices in the mid-state.

Stinnett says Nashville is seen as an alternative to more expensive hubs like San Francisco or Seattle.

“These companies look -- they’re looking for somewhere cheaper to do business than California, but they also want it to be cool where they can recruit talent to.”

Stinnett’s reporting also suggests that Nashville tech sector is maturing and diversifying. He says local software development no longer revolves exclusively around the region’s large hospital companies.

In addition, Stinnett says the buzz is that successful local entrepreneurs plan to plow those profits back into new Nashville based ventures.

“It’s going to be interesting to see if these founders like Brian Fox -- how they reinvest their money here in Middle Tennessee to help the next generation of startups kind of make Nashville a successful tech scene.”

Use this link to explore more Nashville Business Journal articles by Joel Stinnett on this and other mid-state technology and health care issues.