Total amount raised
$50.4 Millions
Latest funding date
1/1/2017
Location
TeamSnap has successfully raised funding through multiple rounds, attracting a diverse group of investors including Bolt Ventures and Foundry Group. The platform offers comprehensive tools for managing youth sports teams, clubs, and leagues.
Keep reading to explore the intricacies of TeamSnap's fundraising journey and the investors backing this innovative platform.
What Is TeamSnap?
Founded in 2009, TeamSnap is headquartered in Boulder, Colorado. The company was established by Andrew Berkowitz, Dave DuPont, and Eric Jens.
TeamSnap offers a sports management platform that simplifies communication and coordination for sports teams, clubs, and leagues. The platform helps users manage rosters, schedules, games, and payments, making it easier for everyone involved to stay organized.
With a team of 101-250 employees, TeamSnap continues to innovate and provide valuable tools for sports organizations worldwide.
How Much Funding Has TeamSnap Raised?
- Venture Round
- Amount Raised: $717.3K
- Date: August 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial development and market entry.
- Series A
- Amount Raised: $700K
- Date: June 2010
- Lead Investors: eonCapital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and user base.
- Venture Round
- Amount Raised: $910K
- Date: November 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and scale operations.
- Venture Round
- Amount Raised: $2.8M
- Date: February 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase market penetration.
- Series B
- Amount Raised: $7.5M
- Date: February 2014
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the user base.
- Series B
- Amount Raised: $10M
- Date: September 2015
- Lead Investors: Northgate Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series C
- Amount Raised: $25M
- Date: January 2017
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in new technologies.
- Convertible Note
- Amount Raised: $5.5M
- Date: June 2020
- Lead Investors: Bolt Ventures, Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the rise in business post-COVID-19 downturn.
- Venture Round
- Amount Raised: $5.5M
- Date: December 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity and flexibility for supporting the network of teams and sports organizations.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: December 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage financial stability and operational flexibility.
Total Amount Raised: $57.63M. Current Valuation: Not publicly disclosed.
Key Investors
- Foundry Group
- Details: Foundry Group is a venture capital firm based in Boulder, Colorado. They have been a lead investor in multiple funding rounds for TeamSnap.
- Investment Focus Areas: Early-stage technology companies, software, IT services.
- Notable Investments: Fitbit, SendGrid, Zynga.
- Northgate Capital
- Details: Northgate Capital is a global private equity and venture capital firm. They focus on investing in growth-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Bolt Ventures
- Details: Bolt Ventures is an investment firm that focuses on innovative technology companies. They joined as a new investor in TeamSnap's convertible note round.
- Investment Focus Areas: Technology, strong brand presence, market potential.
- Notable Investments: Not publicly disclosed.
- eonCapital
- Details: eonCapital is a venture capital firm that led TeamSnap's Series A round. They specialize in early-stage investments.
- Investment Focus Areas: Technology, startups, early-stage companies.
- Notable Investments: Not publicly disclosed.
- Waud Capital Partners
- Details: Waud Capital Partners is a private equity firm that acquired TeamSnap. They focus on investing in middle-market companies.
- Investment Focus Areas: Healthcare services, software, business services.
- Notable Investments: Not publicly disclosed.
What's Next for TeamSnap?
As sports activities resume, TeamSnap is poised to capitalize on a significant opportunity to expand its user base and enhance its technology. With over 22 million users and 19,000 clubs already on board, the potential for growth is immense. The recent $5.5 million funding round will enable the company to invest in technology and customer experience, strengthening partnerships with sports organizations and brand partners.
Future fundraising opportunities appear promising, with continued support from investors like Foundry Group and Bolt Ventures. However, TeamSnap will need to navigate the uncertainties of the post-pandemic sports landscape and maintain user engagement amidst growing competition. The company's ability to effectively utilize its new funds will be crucial in driving growth and innovation.
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