|[February 04, 2014]
TeamSnap Secures $7.5 Million Financing Round Led by Foundry Group
BOULDER, Colo. --(Business Wire)--
the service that helps you manage your sports teams and activities,
today announced a $7.5 million Series B investment led by new investor Foundry
Group. Existing investors Torstar, Trinity Ventures, Toba Capital
and Harris Barton also participated. Foundry Group's Jason Mendelson
will join TeamSnap's board.
"The fast pace of our organic growth shows that people really want to
manage and simplify how they manage their sports teams, activities and
interests," said David DuPont, CEO, TeamSnap. "Having this new
investment and Foundry Group on board as a partner allows us to
accelerate our growth and keep innovating our product in exciting ways."
In the last 2.5 years of TeamSnap's short history, the number of
customers has skyrocketed from 1 million to 5 million worldwide. More
than 60 perent of these customers are using the company's top-rated
mobile app to schedule games, see player availability, track important
statistics, make mobile payments and more.
"TeamSnap is modernizing team management. When you match a compelling
service such as this with a rapidly growing mobile market, the potential
for success is very high," said Jason Mendelson, managing director,
Foundry Group. "TeamSnap is the clear leader in the market, and we look
forward to working with Dave and the team."
TeamSnap's app is available on the iTunes
App Store or Google
TeamSnap is an award-winning service used by 5 million+ people around
the world to manage their sports teams, activities, groups and
organizations. For more information, please visit www.TeamSnap.com.
About Foundry Group
Foundry Group is a venture capital firm focused on investing in
early-stage information technology, Internet, and software startups. In
addition to providing the necessary venture capital to get a company up
and running, Foundry Group is committed to leveraging their experience
in starting and growing companies, expertise in the technology industry,
and network of relationships to help great entrepreneurs turn great
ideas into great companies. Foundry Group is based in Boulder, Colorado,
and invests in companies located across the United States. For more
information, visit www.foundrygroup.com.
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