Managing / Founding Partner
Peter Marcum has spent his career building technology companies. Peter is a self-taught computer programmer, who entered the information technology field in the early 1980s by developing and selling a public housing software package. In 1985, he started JML Computers to build LANs and WANs. In 1990, Computerland, a competitor, recognized Peter’s success. He sold JML Computers and went to Nashville, Tennessee, as owner of Computerland of Nashville and Birmingham, which grew into a multi-million dollar company that he eventually sold.
In 1995, Peter founded Nashville Computer Liquidators and developed it into a $100 million business, which he sold in 2000. He co-founded Essex Technology Group and helped create a large online reseller that later became the brick-and-mortar stores, Bargain Hunt, with 85 retail locations throughout the southeast. A private equity firm bought a majority ownership of Bargain Hunt in November of 2015.
In 2003, Peter created WV Fiber, a national fiber network specializing in wholesale bandwidth in eighteen U.S. and five EU colocation centers and served as its CEO. WV Fiber’s customers included Charter Cable’s home users in five states, Akamai, and others.
Peter bought Usenet Server, a subsidiary of WV Fiber with 9,000 clients, building it to 35,000 online customers, and sold it in 2007. While Working with WV Fiber and Usenet Server, Peter obtained the knowledge required to operate a large SaaS (software as a service) business. When WV Fiber was sold in 2008, its small programming arm was not included in the sale, and later evolved into DevDigital, LLC, which offers Web and application development services. With headquarters in Nashville and a development center in Vadodara, India, and, most recently, Freeport, Bahamas, DevDigital has evolved into a full-service software developer that also offers SEO, learning management systems, and hosting.
DevDigital has moved into equity investing as a way to further leverage its capabilities. In 2016, Kernel Equity was launched as a mechanism to invest in projects for education, healthcare, regulatory compliance, music, e-commerce, and other opportunities. Kernel Equity offers an innovative way for DevDigital to help grow companies that need more than just financing or programming support by providing technical knowledge, development experience, and capital.