The Lefton Report: Locking up Longhorns A title sponsor with absorbency Bruin Sports hires Abrutyn from IMG NASCAR asks $1B, 10 years Wheaties strikes PBA League deal Financing to aid Mission’s marketing Subway switches race teams with Edwards Schneider in spotlight at Vegas arena The Lefton Report: NFL to split autos? Learfield to merge licensing firms
Upcoming Conferences and Events
SBJ/April 21-27, 2014/Marketing and Sponsorship
BigTeams hires Walker, raises funds for national expansion
Published April 21, 2014, Page 5
The BigTeams funding, a Series A round worth an undisclosed, low-seven-figure sum, was led by Capital Sports Ventures, the venture capital fund founded last year by former Monumental Sports & Entertainment executive Greg Bibb and backed by SWaN & Legend Ventures, led by Monumental minority investors Fred Schaufeld and Tony Nader. SWaN participated in the BigTeams funding round as did former Signal Corp. chief executive Roger Mody, and Scott Brickman, former chief executive of property management giant The Brickman Group. Mody and Brickman also are Monumental minority partners.
BigTeams’ software products seek to help automate a variety of functions for high school sports administrators, including scheduling, fundraising, registration, website management, content creation and dissemination. The company, based in Warrenton, Va., has more than 500 client schools in 41 states. But Walker said he saw an opportunity to build significant scale in a segment of the sports industry that to date has been heavily fractured among many smaller outfits.
“High schools are sort of the last great frontier of the industry,” Walker said. “There are a lot of players in this space, but nobody’s really solved it yet and built major scale.”
Walker will work out of Capital Sports Ventures’ office space in Arlington, Va., which has been set up to help accelerate its partner companies. BigTeams represents the first major investment for the 15-month-old Capital Sports Ventures. Walker and Bibb also have worked together as adjunct professors at nearby Georgetown University.
“They’re in a growing market, have an offering that’s very scalable, deals in participatory sports which is a big interest for us, and is both hyperlocal and national. So it sort of checked off all the boxes for us,” Bibb said.
BigTeams founding executives Matt Carson, Jeff Gilbert and Steve Sutherland will remain as majority owners.