STOCK TITAN

Runway Growth Capital Provides $23 Million Growth Investment to Snap! Mobile

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags

Runway Growth Capital has announced a $23 million growth capital commitment to Snap! Mobile, a leading fundraising platform for schools and organizations. Snap! has helped raise over $900M for 125,000+ groups and teams, reaching 12.5M+ participants and donors. The platform provides comprehensive software solutions for athletic directors and coaches, including account disbursements, scheduling, communications, and team store management. The funding will enable Snap! to expand its digital platform and support more schools in their fundraising efforts.

Runway Growth Capital ha annunciato un verso Snap! Mobile, una delle principali piattaforme di raccolta fondi per scuole e organizzazioni. Snap! ha contribuito a raccogliere oltre 900 milioni di dollari per più di 125.000 gruppi e squadre, raggiungendo più di 12,5 milioni di partecipanti e donatori. La piattaforma offre soluzioni software complete per direttori atletici e allenatori, inclusi i pagamenti degli account, la programmazione, la comunicazione e la gestione dei negozi delle squadre. Il finanziamento permetterà a Snap! di espandere la sua piattaforma digitale e supportare più scuole nei loro sforzi di raccolta fondi.

Runway Growth Capital ha anunciado un compromiso de capital de crecimiento de 23 millones de dólares hacia Snap! Mobile, una de las principales plataformas de recaudación de fondos para escuelas y organizaciones. Snap! ha ayudado a recaudar más de 900 millones de dólares para más de 125.000 grupos y equipos, alcanzando a más de 12,5 millones de participantes y donantes. La plataforma proporciona soluciones de software completas para directores atléticos y entrenadores, incluyendo desembolsos de cuentas, programación, comunicación y gestión de tiendas de equipos. La financiación permitirá a Snap! expandir su plataforma digital y apoyar a más escuelas en sus esfuerzos de recaudación de fondos.

Runway Growth CapitalSnap! Mobile2300만 달러의 성장 자본 약속을 발표했습니다. Snap!은 학교와 조직을 위한 주요 모금 플랫폼으로, 12만5천 개 이상의 그룹과 팀을 위해 9억 달러 이상을 모금했습니다. 이 플랫폼은 운동 감독과 코치를 위한 종합 소프트웨어 솔루션을 제공하며, 계좌 지급, 일정 관리, 커뮤니케이션 및 팀 상점 관리 등을 포함합니다. 이번 자금 조달은 Snap!이 디지털 플랫폼을 확장하고 더 많은 학교를 지원하여 모금 노력을 돕는 데 기여할 것입니다.

Runway Growth Capital a annoncé un engagement de capital de croissance de 23 millions de dollars envers Snap! Mobile, une plateforme de collecte de fonds de premier plan pour les écoles et les organisations. Snap! a aidé à lever plus de 900 millions de dollars pour plus de 125 000 groupes et équipes, atteignant plus de 12,5 millions de participants et donateurs. La plateforme propose des solutions logicielles complètes pour les directeurs sportifs et les entraîneurs, y compris les paiements de compte, la planification, les communications et la gestion des boutiques d'équipe. Ce financement permettra à Snap! d'élargir sa plateforme numérique et de soutenir davantage d'écoles dans leurs efforts de collecte de fonds.

Runway Growth Capital hat eine Kapitalzusage in Höhe von 23 Millionen Dollar an Snap! Mobile bekannt gegeben, eine führende Fundraising-Plattform für Schulen und Organisationen. Snap! hat über 900 Millionen Dollar für mehr als 125.000 Gruppen und Teams gesammelt und mehr als 12,5 Millionen Teilnehmer und Spender erreicht. Die Plattform bietet umfassende Softwarelösungen für Sportdirektoren und Trainer, einschließlich Kontenauszahlungen, Terminplanung, Kommunikation und Team-Shop-Management. Die Finanzierung wird es Snap! ermöglichen, seine digitale Plattform zu erweitern und mehr Schulen bei ihren Fundraising-Bemühungen zu unterstützen.

Positive
  • Successfully raised over $900M for 125,000+ groups and teams
  • Extensive reach with 12.5M+ participants and donors
  • Secured $23M growth capital investment for expansion
Negative
  • None.

Insights

The $23 million growth capital commitment to Snap! Mobile represents a strategic move in the digital fundraising sector. With a proven track record of facilitating over $900 million in fundraising across 125,000+ groups, Snap! demonstrates strong market penetration and revenue-generating potential. The deal structure as a growth loan rather than equity financing is particularly noteworthy for RWAY shareholders, as it provides interest income while maintaining a favorable risk profile.

The investment aligns with Runway Growth Capital's portfolio strategy of backing revenue-generating companies with established market presence. The education technology sector's steady growth and Snap!'s comprehensive software suite for athletic programs suggest potential for stable returns. The deal's structure also indicates confidence in Snap!'s ability to generate sufficient cash flow to service the debt.

The digital fundraising market for education shows significant growth potential, with Snap! Mobile's impressive reach of 12.5M+ participants and donors validating the market opportunity. The platform's expansion beyond basic fundraising into comprehensive athletic department management software creates multiple revenue streams and increases customer stickiness.

The investment timing is strategic, as schools increasingly seek efficient digital solutions for budget management and fundraising. Snap!'s established market leadership and comprehensive platform approach positions it well against potential competitors. For RWAY investors, this represents a calculated investment in a sector with strong fundamentals and clear growth drivers.

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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/runway-growth-capital-provides-23-million-growth-investment-to-snap-mobile-302303119.html

SOURCE Runway Growth Capital LLC

FAQ

How much funding did Runway Growth Capital provide to Snap! Mobile (RWAY)?

Runway Growth Capital provided a $23 million growth capital commitment to Snap! Mobile.

How many groups and teams has Snap! Mobile helped through Runway's (RWAY) investment platform?

Snap! Mobile has helped over 125,000 groups and teams, reaching more than 12.5 million participants and donors.

How much total funding has been raised through Snap! Mobile's platform backed by Runway (RWAY)?

Snap! Mobile has helped raise over $900 million through its fundraising platform.

Runway Growth Finance Corp.

NASDAQ:RWAY

RWAY Rankings

RWAY Latest News

RWAY Stock Data

405.13M
38.55M
1.02%
48.93%
2.99%
Credit Services
Financial Services
Link
United States of America
CHICAGO