TeamSnap raises $2.75 million in VC
Last Updated: 10:44 February 7, 2013
TeamSnap helps participants in activities such as youth sports leagues manage their schedules and can send text or email messages to users to keep them informed of schedule changes. The company charges on a "free-mium" model, and recently TeamSnap has added the capacity for large leagues to plan and manager their schedules, chief executive Dave DuPont said.
The company has had triple-digit growth in the past two years and has more than 2 million users, it said.
TeamSnap will use the money to enhance its mobile platform and boost its marketing, DuPont said. The company has put more emphasis on mobile recently, because customers find "that's easier and fits their lives," DuPont said.
Team Snap will be adding employees, he said. He did not disclose how many were currently with the company.
"We've already come pretty close to doubling the number of employees since the summer. We're well into double digits, and by the time we're done we'll have tripled the size of the company,"
The funding round was led by Torstar Corp., a Toronto-based media and publishing company that also invests in digital companies.
TeamSnap already raised $1.6 million in two seed rounds.
Other new investors included Toba Capital and Hbam LLC. Existing investors, including Trinity Ventures and eonBusiness, also participated.
More breaking news...
OIA likes proposed budget for public lands
Boulder Brands outlines 2014 for investors
TekDry attracts cash to save wet cellphones
Fresh off of a glowing 2013 earnings report that showed profit had more than doubled
According to a document filed with the