(September 16, 2015)
By Shay Castle
Boulder company TeamSnap, a provider of digital platforms for organizing athletic teams, has raised $10 million in its second round of funding that began in late May, the company announced Wednesday.
The funding round includes a $1.5 million investment from the Colorado Impact Fund, a venture capital fund launched last year to support local business.
“We’re extremely excited for what the $10 million is going to allow us to do,” said Dave DuPont, CEO at Teamsnap. “(The Colorado Impact Fund) is a great group, and I love what they are trying to do.
“It just becomes more and more evident how fortunate we are to be based in Boulder, where we benefit tremendously from the entrepreneurial community here.”
The investment was the third for CIF, which also invested $3 million in Boulder’s Bhakti Chai earlier this year.
“There’s an enormous reservoir of talent in Boulder, and TeamSnap aligns with our mission of creating healthier communities in Colorado,” said Jim Kelley, founding and managing partner at CIF.
“There is a whole workflow of communicating between a parent and a coach — What time is the game? What do I need to bring?” Kelly said. “TeamSnap has been very innovative in solving that problem, and that has the effect of making those activities more available to kids.”