Torstar, a Canada-based media company, has led a $2.75m round for TeamSnap, a US-based online service for managing ongoing activities. Other new investors included venture capital firms Toba Capital and Hbam, which is run by ex-San Francisco 49’ers player Harris Barton, a former co-founder of funds of funds manager HRJ Capital. Existing investors, including Trinity Ventures and EonBusiness, also participated. TeamSnap’s regulatory filings showed it had raised about $1.6m since 2010. Chris Goodridge, president of Torstar Digital, said: “We like businesses with high customer engagement and businesses that are leveraging the growing trend toward mobile devices. In addition, the connection to communities that TeamSnap enjoys is a natural fit for Torstar’s media assets, including The Toronto Star and Metroland Media Group.” Dave DuPont, chief executive of TeamSnap, added: “We were attracted to Torstar because we believe their digital media expertise and geographic reach can help accelerate customer adoption in Canada where we are already seeing good growth.”
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TeamSnap passes to Torstar
Feb 6, 2013 • Global Corporate Venturing
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