TeamSnap Capitalizes on Momentum with $10 Million Investment Led by Northgate Capital
Colorado Impact Fund & Others Join TeamSnap’s Investment Group
Investor confidence, impressive growth rate position TeamSnap as
leader in youth sports management market
BOULDER, Colo.–(BUSINESS WIRE)–TeamSnap,
the leading tool for organizing and communicating every aspect of team
life, today announced a $10 million Series B financing led by Northgate
Capital, with participation from new investors the Colorado Impact Fund
and Crawley Ventures, and existing investors, including the Foundry
Group.
TeamSnap is an easy-to-use, indispensable tool for organizing and
communicating up-to-the-second updates on every aspect of team life,
including game schedules, practices, equipment and volunteers. This
round comes after a period of staggering growth for TeamSnap, which
nearly doubled its customer base over the past year, now boasting 9
million users in 196 countries. TeamSnap interacts with active users an
average of 40 times per month, and its native mobile apps have been a
particular hit. The iOS app has a 4.7 out of 5 rating in the App Store
and is consistently ranked among the App Store’s Top 10 Free Sports Apps.
“We’re already engaging our customers before, during and after the game,
becoming not just a tool for coordination but also the most trusted
resource for ongoing training, planning and sports-related purchasing,”
said TeamSnap CEO Dave DuPont. “We’re thrilled at the confidence in
TeamSnap displayed by the investment community and what it means for our
future. We’re excited to build on our team management market dominance
and deep customer engagement to become the unifying sports team
platform and marketplace for sports-related products and services.”
The addition of these new investment partners will allow TeamSnap to
bring more innovative sports management solutions to the market faster,
solidifying the company’s position as the single must-have app parents
and coaches turn to many times a day for every kind of sports team
activity.
“TeamSnap fits directly in line with Northgate’s mission of investing in
and maximizing the potential of strong companies with high revenue
potential,” said Charley Dean, Director of Northgate Capital. “TeamSnap
pioneered the category of online team management by creating the most
powerful private communication and organization system in the world for
players, parents and coaches, and we’re excited to be part of the
journey for where they go next.”
Boulder-based TeamSnap is also excited to have local Colorado Impact
Fund join as an investor, showing the confidence the Colorado investment
community has in TeamSnap.
“The Fund is committed to providing capital to entrepreneurs with
compelling business models that drive meaningful returns and community
impact,” said Jim Kelley, Managing Partner of the Colorado Impact Fund.
“TeamSnap has become one of the most recognizable Colorado startups, and
we’re excited to join them on their mission of making life easier for
coaches and families. Participation in athletics and other
extracurricular activities has been widely shown to create opportunity
and healthier lives for our youth.”
About TeamSnap
TeamSnap is dedicated to taking the hassle out of managing, coaching and
participating in team sports. Founded in 2009 by a couple of social
scientists, an improv comedian and an oil field engineer, TeamSnap is a
Colorado company with a team of more than 60 people working remotely
around the United States but all driven by the mission to build a great
product that any parent, coach, team manager, group organizer or
sentient robot can pick up and use immediately. Nine million coaches,
parents, team managers and players use TeamSnap’s web and mobile apps to
save their sanity and stay in the know through email, text and instant
alerts. For more information, please visit www.teamsnap.com.
About Northgate
Northgate Capital is a global venture capital manager focused on
selective company and fund-level investments in the innovative
technologies space. Founded in 2000, investors have committed over $4.5b
to Northgate to deploy in private investments across both direct and
fund-of-funds business lines as of 2Q15. Access, insight, and efficiency
are the ingredients Northgate employs to seek outperformance, along with
prudent diligence and an eye toward timing. With offices around the
globe, Northgate helps institutional investors worldwide seek alpha
through experienced venture investing.
About Colorado Impact Fund
The Colorado Impact Fund is a venture capital firm, managed by an
affiliate of Vestar Capital Partners, which is dedicated to supporting
local Colorado companies that generate consistent investment returns in
addition to positive community outcomes. Investors in the Fund include
some of Colorado’s most respected executives, families, foundations and
corporations, each of whom is committed to making a difference in the
State of Colorado and beyond. Targeting investments of up to $6 million
in the areas of community health, natural resource conservation,
education and workforce development and economic development, the
Colorado Impact Fund leverages its collective experiences, resources and
networks to help Colorado entrepreneurs create exceptional and lasting
companies. For more information visit www.coloradoimpactfund.com.
Contacts
TeamSnap
Stephanie Myers, 720-496-1056
Stephanie.Myers@teamsnap.com
