One of Nashville's early tech pioneers has left the Franklin-based artificial intelligence company he founded more than 21 years ago.
Tim Estes has departed Digital Reasoning Systems Inc., he confirmed in a phone call on Friday. Estes grew the business into one of the region's most prominent tech companies. More notably, Digital Reasoning was one of the area's first major tech successes not rooted in the area's signature health care industry, broadening the scope and variety within the city's tech sector.
Between 2015 to 2020, Estes raised more than $120 million from a host of high-profile global investors. Among them: Goldman Sachs Group Inc. (NYSE: GS); British finance giant Standard Chartered; Macquarie Group Ltd., of Australia; French banking group BNP Paribas; Nasdaq; and Nashville-based HCA Healthcare Inc. (NYSE: HCA). Digital Reasoning's artificial intelligence platform is used by clients in financial services, security, government and health care.
Digital Reasoning had about 180 employees worldwide, including London and Sinagpore, when Estes sold the business in fall 2020 to Smarsh, headquartered in Portland, Oregon. Digital Reasoning kept its Franklin office open (it now goes by the Smarsh Inc. name, not Digital Reasoning). Estes and co-CEO Brook Hazelton remained with Smarsh following the sale. Terms were not disclosed.
"After 21 years of what I feel like was a semi-startup-level pace, there's something to be said for having a window to reset," Estes said. "We did a lot of good things that I'm proud of. A lot of people moved on from Digital Reasoning doing amazing things in different places. I feel like the impact lives on, whether it's within Digital Reasoning itself or four or five other companies."
Estes formally left Smarsh at the end of last year. ("While I appreciated the efforts made to retain me in the company, this was right choice for me," he said in a LinkedIn post).
"I have a 5-year-old and a 3-year-old. At some point, the 80-hour workweek has to have its end point, if you want to be a good dad," Estes said. "That's priority No. 1."
Estes told the NBJ he is staying in the region; he traces his family's roots to the founding of the city. He anticipates staying involved in the region's tech scene and business community.
He spoke with pride of the growth of Nashville's tech scene, calling out Bryan Huddleston — previous CEO of the Greater Nashville Technology Council — as well as Brian Moyer, the current CEO who has announced his departure from the organization.
"I've watched Nashville make an amazing journey. We were probably early in that, but we kept at it and built something interesting," Estes said. "I really think the town's been blessed in some of its leaders who have leaned in and put us right at the top tier of the country for some of this stuff," Estes said. "There are places in the world that I love, but Nashville will always be home."
