TeamSnap Raises $5.5 Million in Funding as Sports Activities Begin to Resume
BOULDER, CO —TeamSnap, the leader in sport management technology, announced today a $5.5 million convertible notes financing led by Foundry Group and Bolt Ventures. The funding comes as TeamSnap prepares for sports activities to return after the global shutdown.
TeamSnap supports over 22 million users, 3 million unique teams and 19,000 clubs across more than 100 different sports and activities. Sport organizations, teams, players and families use TeamSnap's innovative technology everyday to sign up, schedule, communicate, collect payments and coordinate everything for the sports season.
"While this has been a challenging time for the collective youth sports industry, it is gratifying to know that investors are still bullish about our technology, market position and brand," said Dave DuPont, CEO and co-founder of TeamSnap. "Our customers have always genuinely cared about our product. Their loyalty is a testament to our continued investment in technology and our commitment to improving the customer experience. As sports activity continues to recover, this funding gives us liquidity and flexibility to further support our network of teams, sports organizations and brand partners."
The Boulder-based venture firm Foundry Group has been a lead investor for TeamSnap in previous funding rounds. Bolt Ventures joins as a new TeamSnap investor.
"TeamSnap has become synonymous with youth sports and is the top-of-mind platform for all teams and sports organizations," said Isaac Harrouche, Investment Principal, Bolt Ventures. "With sports activities set to return, we are thrilled to partner with TeamSnap and look forward to its continued growth fueled by its powerful brand and innovative technology."
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Greg McIsaac Communications
Founded in 2009 and headquartered in Boulder, Colo., TeamSnap has taken the organization of youth, recreational and competitive sports into the 21st century. 23 million coaches, administrators, players and parents use TeamSnap’s web and smartphone apps to sign up, schedule, communicate and coordinate everything for the team, the club and the season. TeamSnap makes organizing sports as simple as click, tap and go. For more information, please visit www.teamsnap.com