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Angel Investor (Group)
nashvillecapital.com

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Investments

75

Portfolio Exits

14

Funds

6

Partners & Customers

1

About Nashville Capital Network

The Nashville Capital Network is a collaborative not-for-profit initiative of Vanderbilt University, the Nashville Technology Council, Nashville Health Care Council, local investors, and local business and professional leaders. The NCN strives to promote entrepreneurial education and economic growth by becoming the hub for early stage capital formation in middle Tennessee.

Nashville Capital Network Headquarter Location

3810 Bedford Avenue Suite 110

Nashville, Tennessee, 37215,

United States

615-454-3950

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Latest Nashville Capital Network News

PayShepherd secures $3M seed financing led by Nashville Capital Network

Jun 8, 2022

PayShepherd secures $3M seed financing led by Nashville Capital Network CPE News (6.8.2022) – PayShepherd has raised US $3 million in seed funding led by Nashville Capital Network with participation from existing investors Thin Air Labs and Accelerate Fund III. Founded by CEO Wesley Sessenwein, COO Jennifer Hunter, and CTO Johan Lee, Calgary based PayShepherd is a global provider helping heavy industrial facilities manage contractor billing. PayShepherd intends to use new funding to expand product & engineering capabilities, strengthen operations across Canada and the U.S., open up new verticals, and further develop ecosystem integrations. photo credit: PayShepherd News Release PayShepherd secures $3M to tackle contractor billing errors for manufacturing facilities and help hedge against inflation PayShepherd’s cost management technology offers manufacturing facilities and contractors a way to work better together through an easy to use software billing platform. Calgary, Alberta, Canada, June 7, 2022 — PayShepherd, a global provider helping heavy industrial facilities manage contractor billing, today announces it has secured US$3M in seed funding led by Nashville Capital Network, with participation from existing investors Thin Air Labs and the Accelerate Fund, managed by Yaletown Partners with support from the A100. Since releasing its platform, PayShepherd has helped manufacturing facilities and contractors eliminate overspending, benchmarked in excess of US$1M yearly per major facility, as well as enable better negotiations and improve relationships. Today, manufacturing facilities and the contractors they work with daily, face significant pressure as most input and raw material prices skyrocket with inflation, ongoing supply chain constrictions lead to a squeeze on profit margins and cost cutting, and the labor market shortage causes issues for contractors as they try to staff facilities from a smaller labor pool. These pressures lead to the current ‘do more with less’ outlook within the industry. Enter PayShepherd, a fintech helping manufacturing facilities manage contractor billing and vendor relationships, whose software helps facility executives, back-office operations, and contractor personnel address spend accuracy, secure relationships, reduce inefficiencies, and enable closer alignment to strategic goals by automating the current back office processes. Modern facilities run on relationships with their contractors, which are mission-critical to protect in challenging times to keep facilities running. A smooth billing process that eliminates costly mistakes is therefore key. The three co-founders; Wesley Sessenwein, CEO, Jennifer Hunter, COO, and Johan Lee, CTO, combined over 35 years of experience with the complex legacy systems and relationships in manufacturing facilities to launch PayShepherd in 2018. This new investment will further allow the organization to expand product & engineering capabilities, strengthen operations across Canada and the U.S., open up new verticals, and further develop ecosystem integrations. “Success in heavy industry comes from nurturing and protecting the relationships between facility and contractor,” said Wesley Sessenwein, CEO at PayShepherd. “This investment reaffirms our approach in combining the data our customers already have with a highly-focused product that identifies contract and invoice discrepancies, eliminates errors, and empowers the fair exchange of value between facility and contractor.” PayShepherd works as a billing management and contract assurance platform, to eliminate billing discrepancies and improve relationships in the industrial and manufacturing segments. It ensures contractors are billing accurately for labour, equipment, materials and third party expenses, as it automates billing review for discrepancies to eliminate mistakes and overspending and ensures contractors get paid quickly and correctly. The platform works with multiple contractors simultaneously, and runs historical audits to help identify savings opportunities. PayShepherd allows teams to focus on what matters most, and avoid billing and payment problems long before they arise. “We are excited to partner with PayShepherd as they continue to build innovative technologies that help heavy industry and manufacturing facilities significantly reduce services spend,” said Chase Perry, Managing Partner at Nashville Capital. “We are aligned in our vision of using data-driven intelligence to help these companies be more efficient and improve their supplier relationships.” “PayShepherd is focused on solving a very challenging problem for large manufacturers, increasing the accuracy and transparency of financial transactions that occur with their vendors. They are able to drive a great deal of value to their customers and are doing so in a very large and underserved market,” said James Lochrie, Managing Partner at Thin Air Labs. –ends– About PayShepherd PayShepherd is a cloud-based cost management technology platform, purpose-built to support manufacturing and heavy industrial facilities as they engage in contract compliant payments with their service providers. The PayShepherd validation engine is the digital source of truth for contract and collective agreement logic, resulting in material cost savings and return on investment in a matter of months. PayShepherd was founded in 2018, and is headquartered in Calgary, Canada with offices in Vancouver and Charlotte, North Carolina. For more information, visit PayShepherd.com. About Nashville Capital Network NCN is a partnership of more than 100 professional investors, most of whom have been founders and executives of highly successful companies. By leveraging the experience and expertise of the individuals within its partnership, NCN is able to identify, develop, and support promising, high growth companies. NCN manages several investment funds including NCN Angel Fund I, NCN Angel Fund II, Tennessee Angel Fund, NCN Partners Fund, and NCN Fund IV. For more information on NCN, visit nashvillecapital.com. About Thin Air Labs Thin Air Labs is an ecosystem studio igniting venture growth for greater human impact. We invest in very early-stage innovation through our venture arm, help ventures succeed with our services team and we help nurture the innovation ecosystem through our involvement and influence with community builders and critical ecosystem partners. Thin Air Labs – Building What’s Next. For more information, visit thinairlabs.ca. About Accelerate Fund III Accelerate Fund III invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund III is managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead limited partner with support from other investors, including Opportunity Calgary Investment Fund. For more information, visit acceleratefund.ca. CONTACT +1 403 879 8050

Nashville Capital Network Investments

75 Investments

Nashville Capital Network has made 75 investments. Their latest investment was in PayShepherd as part of their Seed VC on June 6, 2022.

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Nashville Capital Network Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/7/2022

Seed VC

PayShepherd

$3M

Yes

4

11/17/2020

Series B

Upfront Healthcare

$11.5M

No

6

8/7/2020

Series A

Modify Health

$2.28M

Yes

7

11/19/2019

Recap

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10

8/7/2019

Series C

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$99M

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10

Date

6/7/2022

11/17/2020

8/7/2020

11/19/2019

8/7/2019

Round

Seed VC

Series B

Series A

Recap

Series C

Company

PayShepherd

Upfront Healthcare

Modify Health

Subscribe to see more

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Amount

$3M

$11.5M

$2.28M

$99M

New?

Yes

No

Yes

Subscribe to see more

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Co-Investors

Sources

4

6

7

10

10

Nashville Capital Network Portfolio Exits

14 Portfolio Exits

Nashville Capital Network has 14 portfolio exits. Their latest portfolio exit was Contessa Health on June 30, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/30/2021

Acquired

$99M

4

4/2/2021

Acquired

$99M

16

11/10/2020

Acquired

$99M

1

6/21/2018

Merger

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$99M

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10

5/23/2018

Acquired

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$99M

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10

Date

6/30/2021

4/2/2021

11/10/2020

6/21/2018

5/23/2018

Exit

Acquired

Acquired

Acquired

Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

16

1

10

10

Nashville Capital Network Fund History

6 Fund Histories

Nashville Capital Network has 6 funds, including NCN Fund IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/13/2022

NCN Fund IV

$70M

1

7/12/2017

NCN Partners Fund

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$99M

10

7/12/2017

NCN Partners QP Fund

$99M

10

7/31/2013

NCN Angel Fund II LP

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$99M

10

8/3/2010

Tennessee Angel Fund LP

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$99M

10

Closing Date

4/13/2022

7/12/2017

7/12/2017

7/31/2013

8/3/2010

Fund

NCN Fund IV

NCN Partners Fund

NCN Partners QP Fund

NCN Angel Fund II LP

Tennessee Angel Fund LP

Fund Type

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$70M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Nashville Capital Network Partners & Customers

1 Partners and customers

Nashville Capital Network has 1 strategic partners and customers. Nashville Capital Network recently partnered with Unity Physician Partners on June 6, 2013.

Date

Type

Business Partner

Country

News Snippet

Sources

6/27/2013

Partner

United States

Unity Physician Partners lands funding from EDG Partners, Nashville Capital Network - Nashville Business Journal

Private equity firm EDG Partners , with offices in Atlanta and Alexandria , Va. , is investing an undisclosed amount in health care provider Unity Physician Partners in a partnership with the Nashville Capital Network , according to a news release .

1

Date

6/27/2013

Type

Partner

Business Partner

Country

United States

News Snippet

Unity Physician Partners lands funding from EDG Partners, Nashville Capital Network - Nashville Business Journal

Private equity firm EDG Partners , with offices in Atlanta and Alexandria , Va. , is investing an undisclosed amount in health care provider Unity Physician Partners in a partnership with the Nashville Capital Network , according to a news release .

Sources

1

Nashville Capital Network Team

2 Team Members

Nashville Capital Network has 2 team members, including current Managing Partner, T. Sidney Chambless.

Name

Work History

Title

Status

T. Sidney Chambless

Managing Partner

Current

Chase Perry

FrontStream Payments, and Harbert Management Corporation

Managing Partner

Current

Name

T. Sidney Chambless

Chase Perry

Work History

FrontStream Payments, and Harbert Management Corporation

Title

Managing Partner

Managing Partner

Status

Current

Current

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