TeamSnap, a Boulder-based developer of a web service and app to manage sports teams and groups, 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 percent of these customers are using the company’s 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 Play.
