A group of investors affiliated with Jumpstart Foundry has taken the lead on a $1.2 million fundraising round for PandoDaily, the Silicon Valley news and event company. Sarah Lacy, the editor of the two-year-old site pictured here, says Jumpstart's role in bringing together the "unconventional group of investors" stemmed from her involvement with the Southland conference, which debuted last June.
$1.2 million is more than we initially set out to raise, and we are still wrapping up a few last conversations, so the final total may tick up to $1.5 million before it’s all done (I’ll update this post and our disclosure page if that happens). We were lucky to raise that money at a healthy valuation, which I won’t disclose, because no entrepreneur ever does if she can help it. The new investment brings our total raised to date to $4.2 million.
HT: Southern Alpha
Nashville-based tax, accounting and business consulting firm Collinsworth, Bright and Co. has merged with Daniels, Uselton and Clay of Kingston, Tenn.
Financial terms of the merger were not disclosed in a release.
The accounting firms will now operate as Uselton, Clay and Bright PC (UC&B).
“The decision to merge was based on the idea that we can leverage synergies and provide more efficient and better service to our clients,” Clyde Bright, UC&B partner, said in a release.
Bright (pictured) said the Nashville office of UC&B will continue to focus on providing consulting services to artists, record executives, recording studios, publishing companies, writers and musicians, in addition to traditional accounting services for small businesses, banks and non-profits. The Kingston branch will primarily serve small to medium size enterprises, not-for-profits, local governments, and growth-oriented individuals in East Tennessee.”
The Nashville office is located at 209 10th Ave. S., Suite 216 in Cummins Station.
Four-year-old business incubator Jumpstar Foundry is leaving the Solidus nest to become an independent entity. The venture has raised an undisclosed amount of money from an investor group led by Clayton Associates that will fund both its start-up program and its Jumpwerx arm that looks to stimulate innovation in established businesses. Twenty-one of the 27 JumpStart graduates are still around and have gone on to raise more than $11 million.
For Clayton, the investment rounds out the firm's lineup of investment vehicles. Chairman Stuart McWhorter says his firm “has always been passionate about seed and very early-stage investing. Our investment in Jumpstart provides our firm the opportunity to strengthen our presence in the seed stage investment cycle. It further enhances the continuum of venture capital investing by complementing our angel fund, Rolling Hills Ventures, and our venture capital fund, FCA Venture Partners.”