INDIANAPOLIS, IN, Upper Hand announces today it has secured $1.5 million in funding from Park Ten Capital.
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Upper Hand, the leader in cloud-based sports management software and business services, announces today it has secured $1.5 million in funding from Park Ten Capital. The Series A round brings Upper Hand's total funding to $4 million.
The $1.5 million will further Upper Hand's investment in innovative technology to adhere to its growing customer base at both the franchise and enterprise level while expanding hiring efforts in customer support and product development. The funding will also be utilized for the continued development of technical and strategic partnerships.
"We are extremely excited to be partnering with Upper Hand as a lead investor, further positioning the company to dominate the sports industry in software innovation across the nation," said Taylor Kelly, managing member for Park Ten Upper Hand Holdings LLC. "Even more impressive than the software itself is the team assembled at Upper Hand, starting with co-founders Kevin MacCauley and Myles Grote. Their passion, drive, and focus, combined with our investment, will propel this software to new heights. Their unwavering commitment to revolutionize the sport and fitness industry, along with their cutting-edge technology, made our decision to invest an easy one."
Founded in 2011 by Kevin MacCauley, Upper Hand has transformed the way sports professionals conduct business. Its powerful, cloud-based mobile platform houses a suite of online tools - such as online scheduling and registration, point-of-sale, automated marketing and more - to help sports businesses of all sizes stay relevant in the rapidly-advancing online world. It's also the industry's first business intelligence reporting solution.
Since its inception, Upper Hand has continued to differentiate its solution through enhanced product development. In March of this year, the company acquired Double Blue Sports' video analysis products, CoachCast and SRS, which are the most advanced, easy-to-use video analysis platforms ever developed for mobile devices. Upper Hand is now the world's first sports and fitness management platform to integrate video analysis and video coaching.
The company continues to undergo exponential growth. In the last year alone, Upper Hand's user base has grown by 125 percent, revenue is up 165 percent, and payments made through the platform have increased more than 14-fold. The funding will help support Upper Hand's expansion efforts nationwide as well as incorporate new product developments that aim to redefine the future of business management in the sports industry.
"Attracting such a prestigious investor is recognition of our potential to solve the fragmentation in today's sports industry," said MacCauley. "This funding gives us the financial strength to advance our goals and deliver unparalleled value to sports business owners in a way that optimizes business results while perfecting athlete development."
Upper Hand Upper Hand is compatible with both iOS and Android smartphones and tablets. Upper Hand is also accessible from a desktop browser. To learn more about Upper Hand or request a demo, please visit www.getupperhand.com.
About Upper Hand
Upper Hand simplifies front and back-end office tasks for sports businesses, provides cutting-edge marketing tools and offers business intelligence that enables unsurpassed performance for its customers. Customized software and pricing are fit to everyone's sports business needs with the objective of helping every customer grow their business. Upper Hand is proudly headquartered in Indianapolis, Indiana. To learn more about Upper Hand, visit www.getupperhand.com.
About Park Ten Capital
Park Ten Capital is a small group of investors that individually and collectively focus on identifying alternative investments that can typically deliver returns much higher than the traditional investment approach. These investment types allow Park Ten Capital to diversify the asset categories in which they are investing; while still taking a conservative risk-averse approach to maximize returns, while limiting the downside risk on each investment.