Chase Gilbert, CEO of Built Technologies Inc.
Nathan Morgan | for the Nashville Business Journal
Nashville's tech scene is about to radically change with the arrival of Oracle and as Amazon and other firms fill their downtown hubs. But there's plenty of action right now. Tech Bytes is a recurring roundup highlighting news on startups, capital raises, acquisitions and other activity in the region's tech sector.
- Parler Inc., the now-Nashville-based social media platform particularly popular with the Trump wing of the Republican Party, has raised $20.25 million, per this federal filing. The new funding comes after a year of upheaval at Parler following the deadly riot at the U.S. Capitol over the election results. Apple and Google pulled Parler from their app marketplaces, saying Parler failed to flag and address threats or incitements of violence (it's now back in the Apple store, after changes to content moderation practices). CEO George Farmer moved the company to Nashville from Nevada in the fall. Parler's filing says 10 investors participated in the new raise, listing an office address that appears to match the WeWork co-working space in East Nashville. Christina Cravens, Parler's chief marketing officer, declined to comment on how Parler would use the new funding.
- Internet streaming startup Gimme Radio Inc. has raised about $6 million from nine investors, according to this new filing. The business was founded in San Francisco in 2017 and has since relocated to Nashville. It's led by co-founder and CEO Tyler Lenane, a former executive of Apple Music and Beats Music.
- PitchBook reports that investors created a record-sized herd of unicorns in 2021, which are private companies (usually startups) valued at $1 billion or more. "More unicorns were minted in 2021 than the past five years combined," PitchBook says. One of every two unicorns made last year resides in California. Tennessee had one: Nashville-based Built Technologies. Another homegrown unicorn, Silicon Ranch Corp., just hauled in an enormous raise itself.
- Scott Meriwether is resigning as chief operating officer of Green Hills-based i3 Verticals Inc. (Nasdaq: IIIV). The company says he's leaving "to pursue another opportunity," effective Feb. 21.
- Revance Therapeutics Inc. (Nasdaq: RVNC), a biotech company that moved from San Francisco to Nashville last year and scored high on Deloitte's annual Technology Fast 500 list, announced regulatory approval of a new product and preliminary 2021 financial results.
Tech talk
"It's wonderful to see such a high level of optimism among Nashville and Middle Tennessee entrepreneurs. Not that I'm surprised."
Amy Tanksley, Nashville chapter president, Entrepreneurs' Organization
Tanksley, who's also owner of Uncle Classic Barbershop, discussed the results of EO's latest chapter member survey.
