NCN Portfolio Company EnableComp Receives Major Growth Investment From Primus Capital
Nashville Capital Network exits its position with significant return on investment
NASHVILLE, TN (Aug. 9, 2017) – NCN Angel Fund I and Tennessee Angel Fund portfolio company EnableComp recently announced a major growth investment by Cleveland and Atlanta-based Primus Capital. As a part of the recapitalization, NCN exited its position in the business.
“We are very proud to have worked with Jim Lackey, David Jones, and the rest of the team at EnableComp. They have been great partners and we believe this financing provides an excellent opportunity for them to continue the company’s rapid growth,” said NCN’s Managing Partner Sid Chambless. “We are also pleased that another NCN-backed company was able to attract meaningful private equity investment from a nationally recognized firm like Primus Capital.”
NCN has been an early stage investor in numerous Nashville-based companies that have gone on to raise significant private equity. NCN partners have attracted investment from some of the leading growth capital firms in the country, including Google Ventures, Goldman Sachs Private Equity, Blue Cross Blue Shield Venture Fund, PeakSpan, Great Hill Partners, United Health Ventures, HLM Ventures, Oak HC/FT and many others. EnableComp is the third transaction in the last year in which NCN successfully participated in a recapitalization by a national private equity firm.
EnableComp, based in Franklin, TN, is a healthcare technology enabled services company that partners with healthcare providers to maximize reimbursement from workers’ compensation payers. The investment by Primus will accelerate EnableComp’s existing foothold as the nation’s leading provider of workers comp reimbursement solutions and allow it to expand its portfolio of solutions and client reach.
NCN targets fast growing companies that typically have $1-3 million in revenue, proven management and are raising their first round of professional capital. NCN recently completed fundraising for NCN Partners Fund which allows the firm to continue to invest in companies that have exhausted ‘friends and family’ financing but are not yet ready for later stage private equity.
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. NCN leverages the experience and expertise of the individuals within its partnership 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, and NCN Partners Fund. For more information on NCN, please visit www.nashvillecapital.com.
About EnableComp, LLC
With more than 17 years of workers’ compensation claims billing expertise, EnableComp is the trusted source of innovative work comp reimbursement solutions in the healthcare industry. Their robust proprietary technology platform has been populated with state fee schedules, clinical and jurisdictional conditions, and payer behavior data to provide clients with guaranteed cash acceleration and reimbursement accuracy for each claim. For more information, visit www.enablecomp.com.
