Varsity News Network, a Grand Rapids, Michigan-based online communication platform provider for high school athletic departments, closed $3.7m in funding.
The round was led by Arsenal Venture Partners (AVP), with participation from North Coast Technology Ventures, RSL Venture Partners, Start Garden, Nir Arkin, Detroit Innovate, Grand Angels, Northern Michigan Angels, the Michigan Angel Fund and Avram Grant, former head coach of the Chelsea Football Club, who will serve the company as Advisor for Soccer related affairs.
The company intends to use the funds to for national expansion of its platform and launch of the mobile app.
Founded in 2011 by Ryan Vaughn, CEO, Varsity provides customized websites, mobile apps and an advertising network for athletic departments. It is used by more than 1,500 schools in 40 states.
The platform also generates media content targeting athletes and parents and with the release of VNN 2.0 in early 2016, the company will also give users the ability to create profiles to connect with their families and teammates, and upload and share content.
FinSMEs
03/09/2015