Entrepreneurs / Small Business  January 31, 2017

TeamSnap raises $25M in round led by Foundry Group

BOULDER — TeamSnap Inc. has raised another $25 million in an equity-investment round led by Boulder-based Foundry Group. The raise was detailed in a Regulation D filing with the U.S. Securities and Exchange Commission, Jan. 31.

The Boulder-based company, which produces Web and smartphone apps for managing youth, recreational and competitive sports teams, is approaching 15 million customers in 96 companies, according to a company statement.

“We will use a significant part of this funding to redouble our focus on TeamSnap for Clubs & Leagues,” TeamSnap’s chief executive, Dave DuPont, said in a prepared statement. “The funding will help us expand our world-class marketing, sales and product teams to drive even quicker and more robust advancements to our already leading platform.”

TeamSnap previously raised $10 million in 2015, in a funding round led by Danville, Calif.-based Northgate Capital, along with the Colorado Impact Fund and Crawley Ventures — both of Denver — and Foundry Group of Boulder. The company has raised almost $50 million since its inception in 2009.

The majority of the latest $25 million investment came from Foundry Group Next, a $500 million fund established in 2016. The fund allows the group to make growth investments in the most successful companies from its early-stage funds.

“We are thrilled with the progress TeamSnap has made. TeamSnap is the top-of-mind sports management solution for every coach and administrator,” said Foundry Group’s managing director and co-founder, Jason Mendelson. “We look forward to accelerated expansion fueled by the company’s powerful brand and market position, strong leadership and innovative team.”

The round also includes participation from a new investor, Fairfax Financial Holdings Ltd., which acquired Research in Motion in 2013. Fairfax, chaired by Canadian businessman Prem Watsa, is based in Toronto but has investments around the world and focuses on long-term gain. TeamSnap has a high penetration rate in Canada, especially among hockey teams, boasting more than 3 million customers there.

 

BOULDER — TeamSnap Inc. has raised another $25 million in an equity-investment round led by Boulder-based Foundry Group. The raise was detailed in a Regulation D filing with the U.S. Securities and Exchange Commission, Jan. 31.

The Boulder-based company, which produces Web and smartphone apps for managing youth, recreational and competitive sports teams, is approaching 15 million customers in 96 companies, according to a company statement.

“We will use a significant part of this funding to redouble our focus on TeamSnap for Clubs & Leagues,” TeamSnap’s chief executive, Dave DuPont, said in a prepared statement. “The…

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