Boulder-based TeamSnap is buying FanAppEvents
TeamSnap, the Boulder company behind the go-to app for parents and coaches who must keep track of youth soccer games, is expanding its own team by buying FanAppEvents for an undisclosed amount, the company announced Monday.
FanApp, based in Jefferson City, Mo., adds a new feature: the ability to quickly organize a tournament.
Essentially, said Dave DuPont, TeamSnap’s CEO, an organizer inputs the teams, dates and constraints and the schedule is automatically filled out.
“We didn’t have that,” said DuPont, who co-founded the company in 2009, though the first beta launched in 2007. “… Up until now, if a team is participating in a tournament, the schedule had to be inputted manually by the coach or manager of the team. … So this is a big deal.”
DuPont said that the strategic purchase, which was funded by the company’s recent $25 million investment round, was mainly about FanApp’s technology and talent. TeamSnap hired the whole 15member team, which includes FanApp’s CEO and co-founder, Jill Antweiler. FanApp’s team will continue to be based in Missouri. However, the feature will now be called TeamSnap Tournaments.
“We were actively looking for a technology solution frankly,” DuPont said. “The good news of FanApp is they had exactly what we were looking for, if not more. They used technology very consistent with ours so it’s easily integrated. And their team fits well with us.”
While the company declined to share the price it paid for FanApp, DuPont put the price in the seven figures and called it a “major strategic acquisition for us. The largest we’ve made so far.” He compared it to TeamSnap’s 2013 acquisition of Weplay, which had previously raised $15 million in venture capital.
“This is bigger than that for us,” he said.
TeamSnap has gone from small Boulder startup to a technology used by 15 million people in 196 countries, according to the company. It’s also grown beyond kid sports to sports teams and adult clubs and leagues. The app helps team members keep track of schedule changes, share photos and communicate with the entire team with one text.
The app offers a limited-version of its app for free, but charges about $9.99 per team for features such as email reminders and payment tracking.
The company has $47.3 million to date from investors that include the Foundry Group and Colorado Impact Fund. Since January, staff has more than doubled from the then-85 employees. With the FanApp purchase, which closed Friday, the company is approaching 200 employees.
“It’s not typical that you’ll find, in my experience, a company that fits so well with its technology and people. We’re absolutely delighted to have the FanApp guys on board with us,” DuPont said. “This will be a major element in propelling us toward $100 million (in annual revenues) in the next few years.”