Strategic Investment Brings New Resources to Leading Sports Management Platform to Expand Product Portfolio, Drive Growth, and Deepen Sports Organization and Brand Partnerships
BOULDER, Colo., April 14, 2021 /PRNewswire/ -- TeamSnap, which provides industry-leading sports management and communication software for amateur sports, today announced a strategic partnership with Waud Capital Partners, a leading growth-oriented middle market private equity firm. The partnership brings new capital to TeamSnap and gives Waud Capital majority ownership of the company. The partnership will accelerate TeamSnap's growth, providing resources to expand its offering for athletes, their families and sports organizations of all sizes. As part of this partnership, Waud Capital executives Peter Frintzilas and Andrew Rueff will join TeamSnap as CEO and Executive Chairman, respectively. Founder and current CEO Dave DuPont will retain a financial stake in the company and play a critical role on TeamSnap's executive team, working directly with key customers and partners.
"This is an exciting new phase for TeamSnap that will greatly benefit our team, our customers and our partners," said Dave DuPont, TeamSnap's founder. "Waud Capital is a well-capitalized partner and will help us solidify our position as the premier software platform for team sports management and communication. Peter and Andrew have extensive experience successfully scaling software companies. Their addition to the team, along with the additional resources Waud Capital provides, allows us to accelerate our current plans and sets us up for our next phase of growth."
TeamSnap provides end-to-end solutions for communication, scheduling, payment collection, registration and real-time game sharing through its proprietary software platform and mobile applications. By taking the work out of play, TeamSnap has become the trusted platform for 25 million coaches, administrators, players and parents. The new investment from Waud Capital will enable TeamSnap to deepen its partnerships with coaches, leagues and administrations and to develop innovative new tools and features for its platform.
Mr. Frintzilas, TeamSnap's new CEO, brings 20 years of software experience to TeamSnap. He previously served as SVP and Head of Marketing, Strategy & Innovation at Intralinks, where he helped create significant value for customers and shareholders, culminating in a $1.5B exit from the Siris Capital Portfolio to SS&C Technologies. As Executive Chairman, Mr. Rueff will help support TeamSnap through its next phase of growth. Mr. Rueff brings more than 25 years of software leadership experience and currently is a Waud Capital Operating Partner. He also leads its Sphere Commerce platform as Executive Chairman.
"I am excited to lead TeamSnap through its next phase of growth and realize our vision to become the #1 software platform in youth and amateur sports," Mr. Frintzilas said. "Accomplishing this will require a continuation of TeamSnap's strong culture, outsized growth, celebrated customer service and the pursuit of new innovation and product development. Dave and I share a strong alignment on values, culture, and the belief that a relentless focus on our people, our customers and our community is critical to our future success. I look forward to working with him and the rest of the TeamSnap team to realize the potential of helping increase access to sports for all of our communities," Mr. Frintzilas said.
"We see an immense opportunity to expand TeamSnap's mission of providing coaches, players, parents and organizations with the superior resources and information they need to participate fully in sports. We're incredibly impressed by the strong base TeamSnap has built, with a beloved product that is already the trusted market leader for tens of millions of users. We look forward to unveiling expanded solutions in the coming months that will permit deeper integrations with partners and increase the already best-in-class platform functionality for which TeamSnap is known," added Mr. Rueff.
While the COVID-19 pandemic initially curtailed amateur sports activities, TeamSnap has shown impressive resilience over the past nine months, with app usage and financial performance currently above pre-pandemic levels. TeamSnap has played an integral role helping families around the world return to sports safely, consulting with organizations and launching Health Check, an integrated health screening feature, which has been used more than 14 million times since launch. The company also announced a partnership with the Aspen Institute last fall to commit $1 million to expand access to sport for underserved youth athletes.
About TeamSnap Since its formation in 2009, TeamSnap has been single-mindedly focused on taking the work out of play. 25 million coaches, administrators, players and parents rely on TeamSnap's powerful and easy-to-use tools for communication, scheduling, payment collection and registration, organizing every sport and group activity in the world. For more information, visit https://www.teamsnap.com/.
About Waud Capital Partners Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $3.2 billion since its founding in 1993. The firm partners with exceptional management teams to build market leading companies within two industries: healthcare services and business and technology services. Since its founding, Waud Capital has successfully completed more than 300 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, please visit www.waudcapital.com.