Most of us don’t think about all the paintings that are required to create, grow and those leagues, that’s a lot. Today, LeagueApps, which aims to be the operating formula for youth sports organizations, announced that it has raised $15 million as a component of a Serie B investment round.
Existing investor Contour Venture Partners led the financing, raising the company’s overall funding since its inception in 2010 to $35 million. Major League Baseball and Elysian Park Ventures, the equity arm of the los Angeles Dodgers’ owner group, also participated in the round.
Several new and existing sponsors also put silver on the tour, adding Olympic gold medalists Julie Foudy and Swin Cash; NFL veteran Derrick Dockery; Peter J. Holt, president of Spurs Sports
The New York-based company strives to help young people get better organized, and has developed registration and control software so that the leaders of those sports organizations can better manage the league’s control process and collect bills more efficiently.
“We’ve built all the team they want to force their programs,” said Brian Litvack, CEO and co-founder of LeagueApps. These teams come with the reinforcement of those leaders to do things like create a website, settle for records, send messages to coaches and parents, and percentage data with governing bodies or associations.
“Local game organizers have a role in the network to make sure the game takes place,” Litvack said.
Image credits: LeagueApps
Instead of charging your software, it charges a small upfront payment and then takes a percentage of all transactions made through its platform, so if you pay your users, you pay them.
This that the company, like many others, suffered a blow when the COVID-19 pandemic hit in 2020, but has recovered since then, and something else.
In the spring of 2021, the platform surpassed the $2 billion mark for processed transactions, doubling the $1 billion mark reached in the summer of 2019. From 2016 to 2019, LeagueApps recorded a 275% expansion in revenue. Today, more than 3,000 sports organizations use LeagueApps as their operating system.
The corporation expects to process more than four million sports registrations in 2021.
In addition to its flagship software, the company’s NextUp platform is designed to provide organizers with leadership development and networking opportunities. He also manages FundPlay, a philanthropic program aimed at sports-based youth progression systems in underserved communities.
As a parent of kids playing sports, Matt Gorin of Contour Ventures said he was attracted to making an investment in LeagueApps. According to him, the company is addressing a “large but fragmented” market.
“I have noticed with my own eyes that reports of vital games for other youth and the organizations that offer them are for children, families and communities,” he said. “LeagueApps is exclusive in many ways, especially when it comes to its technique and commitment to combining technology, community, visitor service and having an effect on the gaming market for mature young people. “
LeagueApps plans to use its new capital primarily for investment and engineering in order to “provide more solutions” to youth sports organizations.
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