The funding will enable Snap! Mobile to cement
its market leadership position and expand its reach to support more
schools and organizations in need of effective fundraising
solutions.
MENLO
PARK, Calif., Nov. 13,
2024 /PRNewswire/ -- Runway Growth Capital
LLC ("Runway"), a leading provider of growth loans to both
venture and non-venture-backed companies seeking an alternative to
raising equity, announced today a $23
million growth capital commitment to Snap! Mobile
("Snap!"), a leading fundraising platform for schools and
organizations to support their sports teams, groups, and clubs. The
funding will enable Snap! to expand its innovative digital platform
and empower more organizations to raise critical funds for high
school athletics and other extracurricular activities.
"We're thrilled to partner with Snap! to support their continued
growth and help scale their impact on schools' sports teams and
clubs across the country," said Jeff
Goldrich, Managing Director at Runway. "Their platform and
leadership team have transformed fundraising by making it safer and
easier for communities nationwide to rally behind students and
supplement budget shortfalls with private funding. We're confident
in Snap!'s ability to expand their reach, helping to deliver even
more opportunities to more students, with this investment."
Snap! has emerged as a market leader in the digital fundraising
space, providing innovative solutions to students and organizations
to help meet their financial needs safely and efficiently. To date,
Snap! has helped raise over $900M for 125,000+ groups and teams, across
12.5M+ participants and donors. Beyond fundraising, Snap! also
provides a full suite of software solutions to help manage the
day-to-day needs of athletic directors, coaches, and other leaders,
from account disbursements to scheduling, internal and external
communications, fan engagement, and the team store. With a strong
focus on supporting students, Snap! continues to develop seamless
ways to foster community engagement while prioritizing the success
of students and athletes.
"We're incredibly grateful for Runway's support and belief in
our mission," said Cole Morgan, CEO
of Snap! Mobile. "This new capital will allow us to enhance our
platform, broaden our customer base, and drive forward our vision
of ensuring that every young person has access to the athletics and
activities that are so crucial to their development."
Runway's investment underscores its commitment to backing
high-growth companies with flexible financing solutions, enabling
them to scale with minimal dilution.
About Runway Growth Capital LLC
Runway Growth Capital
LLC is the investment adviser to investment funds, including Runway
Growth Finance Corp. (Nasdaq: RWAY), a business development
company, and other private funds, which are lenders of growth
capital to companies seeking an alternative to raising equity. Led
by industry veteran David Spreng,
these funds provide senior term loans of a target of $30 million to $150
million to fast-growing companies based in the United States and Canada. For more information on Runway Growth
Capital LLC and its platform, please visit
www.runwaygrowth.com.
About Snap! Mobile, Inc.
Snap! Mobile has been proudly
supporting programs around the country with simple and dependable
services since 2014. Snap! Raise has raised $900 million dollars for over 125,000 groups and
teams through over 12.5 million participants and donors. In
addition to the Snap! Raise fundraising solution, Snap! Mobile
further supports schools, groups, and teams with its other brands
and products: Snap! Spend (transparent money management solution),
Snap! Store (spirit wear), FanX, and Snap! Manage (integrated
scheduling, communication, and registration solution). For more
information on Snap!, visit snapraise.com.
Forward-Looking Statements
Statements
included herein may constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements other than statements of historical facts included
in this press release may constitute forward-looking statements and
are not guarantees of future performance, condition, or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in Runway's filings with the Securities and Exchange
Commission. Runway undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
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SOURCE Runway Growth Capital LLC
