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Venture Capital News: TeamSnap Secures $25M

2017-02-01
BOULDER, CO, TeamSnap, a provider of team management applications for sports teams and clubs, raised $25 million in funding.
According to the Denver Post, TeamSnap is picking up another $25 million from investors.

'Children in America tend to get involved in sports activities and their parents spend a fair amount of money for them to do so. But parents are super busy. We recognize that and we want to both make this activity easier (for parents and coaches) and exploit the phenomena,' said Dave DuPont, TeamSnap's CEO, adding that the app's easy-to-use software was key for its word-of-mouth growth.

Initially, TeamSnap's mobile app replaced a coach's clipboard and the numerous phone calls that occur when a youth sports game gets rescheduled or moved to a new location. The service has since expanded to leagues and clubs, professional teams, and to Canada and elsewhere. When a tournament gets postponed due to terrible weather, for example, organizers click a button and instantly tell all affected team members. Nearly 15 million customers use its app, the company said.

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Spending for software for youth sports leagues in the U.S. could reach $5.9 billion by 2022, according to WinterGreen Research in Massachusetts. DuPont believes the number is accurate, but it only counts the U.S. market. About 10 percent of TeamSnap's business is outside the U.S. and Canada, so its potential international market is great. Investors seem to agree.
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