Pinnacle invests in artist management software company

Pinnacle Financial Partners has taken a stake in local artist management software company Artist Growth in an effort to further expand its music, entertainment and sports business.

Pinnacle and seven-year-old Artist Growth aren’t disclosing terms of the bank’s investment. Artist Growth’s software compiles and integrates financial data, calendars and royalties information, among other elements, onto a platform that provides a more complete picture of artists’ businesses than would otherwise be the case. The two companies say their partnership will help each bring new services to touring musicians and other entertainers, who very often struggle to access financial services in efficient and affordable ways.