Colorado Impact Fund Selects TeamSnap For Third Investment
Platform Facilitates Parent Engagement in Youth Sports and Activities
(Denver, Colo.) – September 15, 2015 – The Colorado Impact Fund(CIF) announced today that it has made a $1.5MM investment in TeamSnap, a Boulder company with the leading digital platform for managing and organizing team activities. CIF joins Boulder-based Foundry Group and Northgate Capital as funders in this round of financing.
TeamSnap is an easy-to-use, indispensable tool for organizing and communicating up-to-the-second updates on every aspect of team life, including game schedules, practices, equipment and volunteers. This investment comes after a period of strong growth for TeamSnap, which nearly doubled its customer base over the past year and now boasts 9 million users and 800,000 active teams.
“We are delighted to have the Colorado Impact Fund as investors in our Company,” said TeamSnap CEO Dave DuPont. “We appreciate the mission of the Fund, and we are proud to be among their portfolio of Colorado investments.”
Colorado Impact Fund identified TeamSnap as a potential investment largely because of its emphasis on facilitating active and healthy lifestyles, especially among youth. Participation in athletics has been widely shown to improve academic performance, improve behavior and reduce school absences. The platform enables parents to be more engaged in their child’s physical and community-based activities, making it easier to get involved either as a coach or parent volunteer for the activity. In addition, CIF recognized the Company’s rapid growth in users and other metrics related to becoming an attractive investment for the Fund.
“CIF is committed to providing capital to local entrepreneurs with compelling business models that drive meaningful returns and community impact,” said Jim Kelley, Managing Partner of the Colorado Impact Fund. “TeamSnap fits squarely into this category and has proven to be a clear leader in an important market that has implications for youth health and extracurricular activities.”
About Colorado Impact Fund
The Colorado Impact Fund is a venture capital firm, managed by an affiliate of Vestar Capital Partners, which is dedicated to supporting local Colorado companies that generate consistent investment returns in addition to positive community outcomes. Investors in the Fund include some of Colorado’s most respected executives, families, foundations and corporations, each of whom is committed to making a difference in the State of Colorado and beyond. Targeting investments of up to $6 million in the areas of community health, natural resource conservation, education and workforce development and economic development, the Colorado Impact Fund leverages its collective experiences, resources and networks to help Colorado entrepreneurs create exceptional and lasting companies. For more information visit www.coloradoimpactfund.com.
TeamSnap is dedicated to taking the hassle out of managing, coaching and participating in team sports. Founded in 2009, TeamSnap is a Colorado company, with a team driven by the mission to build a great product that any parent, coach, team manager, or group organizer can pick up and use immediately. Nine million coaches, parents, team managers and players use TeamSnap’s web and mobile apps to save their sanity and stay in the know through email, text and instant alerts. For more information, please visit www.teamsnap.com.
Contact: Courtney Lis (970) 581.6231 Courtney@vocapr.com Alana Watkins (303) 916.2752 Alana@vocapr.com