Banking & Finance September 16, 2015 9:38:54 pm

TeamSnap scores with $10 million funding round

By Joshua Lindenstein

TeamSnap's app keeps track of logistics for youth athletes, coaches and parents in addition to providing a social networking aspect. (Courtesy TeamSnap) — TeamSnap’s app keeps track of logistics for youth athletes, coaches and parents in addition to providing a social networking aspect. (Courtesy TeamSnap)

BOULDER — Fueled by a user base that has nearly doubled over the past year to 9 million people in 196 countries, Boulder-based TeamSnap Inc., announced a new $10 million series B funding round on Wednesday that it plans to use to ramp up the growth even more.

Danville, Calif.-based Northgate Capital led the round, with new investors Colorado Impact Fund and Crawley Ventures, both of Denver, also joining in along with existing investor Foundry Group of Boulder. A release from Colorado Impact Fund announced that firm’s investment at $1.5 million.

TeamSnap – which provides a mobile platform for keeping coaches, parents and young athletes in tune with every aspect of team life – has roughly 65 employees, about a third of whom are in Boulder. Chief growth officer Ken McDonald said Wednesday that the employee figure could grow to 70 or 75 by the end of the year as the company beefs up its marketing, sales and engineering teams.

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“The investors like the progress and basically said keep doing more of the same,” McDonald said.

The TeamSnap app, which is used across 100 different sports, helps youth sports teams keep track of everything from practice times and locations to game schedules to uniform and equipment needs. But there’s also a social aspect that has gained particular traction over the last six months as a new TeamSnap Live offering has grown. That feature allows parents who are at games to provide real-time game updates to those who couldn’t be in the crowd themselves.

“That has really taken off,” McDonald said. “On a peak day now, we’re sending 1 million push notifications around that feature.”

The TeamSnap app comes in iOS and Android versions and is available not only to individual teams but clubs and leagues as well. In addition to a free version of the app, there’s various premium versions available on a subscription basis.

TeamSnap does not disclose revenue. McDonald said the new funding round brings the company’s total raised to about $24 million since the company was founded in 2009.