Minneapolis-based
Sport Ngin just received a major funding infusion that will boost the company's already impressive growth even more. The sports software provider recently closed a $6 million financing round with
El Dorado Ventures, a venture capital firm with offices in Minnetonka and Silicon Valley. That brings their overall funding total to $10 million since the company's founding in 2008.
Sport Ngin began as TST Media, a design and creative agency started by Justin Kaufenberg and Carson Kipfer while both attended the University of Wisconsin-Eau Claire. "Originally, it was just to make a little extra beer money," Kipfer says, with a laugh. "But by the time we were finishing school, we could see the potential for much more."
Looking for a niche, and drawing on their experience playing sports through high school and college, the pair focused on developing software for sports organizations, first for hockey and then for many other sports.
The software they developed allows teams to manage players, post schedules, and track stats, as well as offer online registration. A tournament package offers tools that let users run everything from a Little League event to a professional playoff.
Currently hiring for a number of positions, Sport Ngin sees more growth ahead, both in employee numbers and in products. The company's revenue has increased 100 percent year after year for the past four fiscal years, and aggressive hiring has increased staff numbers to 120.
"This current investment underscores our progress, hard work, and many successes to date, and validates the widespread adoption of Sport Ngin by thousands of sports organizations," says Kaufenberg. "This capital infusion will enable us to further grow our market presence, and to expand and enhance the functionality of Sport Ngin."
Sources: Carson Kipfer and Justin Kaufenberg, Sport Ngin
Writer: Elizabeth Millard