Colorado-based startup TeamSnap scores $7.5M in Series B round for to develop app to manage the schedule of sports teams

By VCPOST Staff Reporter

Feb 05, 2014 07:33 AM EST

TeamSnap has recently secured $7.5 million in a Series B financing. Existing investors Trinity Ventures, Torstar, Harris Barton, and Toba Capital participated in the said round. Foundry Group was added as an investor in the startup, according to Xconomy.

Ken Mcdonald, vice president for customer acquisition, said the latest funding brings TeamSnap's total raised capital to almost $11.9 million, the report stated.

TeamSnap is a startup that creates software designed to help youth and adult sports team coaches and league officials manage the schedules and communicate updates with athletes. The app is able to sync games, events, and practices across a user's personal calendars. In addition, user can receive e-mail and text notifications about schedule changes, the report detailed.

McDonald said the company will use the capital infusion to beef up its workforce, develop its mobile product, and lure in new clients. The startup presently employs around 35 workers and plans to double that number over the next year. Moreover, TeamSnap will be giving more focus on the mobile features of its product, Xconomy reported.

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