[SOCCER BUSINESS]TeamSnap, which provides a team management tool used by soccer clubs and organizations in other sports and activities, received $7.5 million in a financing round led by new investor Foundry Group.
Existing investors Torstar, Trinity Ventures, Toba Capital and Harris Barton (founded by the former NFL linesman of the same name). Jason Mendelson, managing director of Foundry Group, 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 TeamSnap CEO David DuPont. "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."
Team Snap has seen its customer base climb from 1 million to 5 million in the last two and a half years with than 60 percent of its customers are using its mobile app to schedule games, check player availability, track important statistics and make mobile payments. It raised $2.75 million a year ago in an earlier investment round.
"TeamSnap is modernizing team management," said Mendelson in a statement. "When you match a compelling service such as this with a rapidly growing mobile market, the potential for success is very high. TeamSnap is the clear leader in the market, and we look forward to working with Dave and the team."