Venture round led by former Finish Line Executives brings total capital raised to $1.34M
We are excited to announce the completion of a financing round led by former Finish Line Executives, bringing our total seed capital raised to $1.34M since January 2014. The new funds will support employee growth and the expansion of our sports software features.
Kevin MacCauley, Upper Hand Founder and CEO said, “Transitioning from a startup to a scalable company is a challenging phase, further magnified by the fragmentation in the sports industry. The addition of capital allows us to invest in our team here in Indiana but more importantly, it strengthens our position to deliver unparalleled value to sports business owners.”
The Upper Hand team is expected to launch the next version of our online service in Q2 of this year, and we are working with a top 500 corporate franchise to build enterprise based software.
Indianapolis based, former Finish Line Executives, Larry Sablosky (Finish Line Co-founder), Steve Schneider (former President & COO) and Don Courtney (former President of E-Commerce) co-led the venture round along with Sheets Smith Wealth Management and other existing Upper Hand shareholders based in Indianapolis, IN, Washington, DC and Greensboro, NC.
"Upper Hand has put together an ambitious and committed team that is continuing to grow. With upcoming product developments, this team has the vision needed to greatly impact the athletic software scene on a significant scale, building on Indianapolis' reputation as the sports capital of the world," said Finish Line Co-founder Larry Sablosky.
In addition to the funds raised, Upper Hand is a qualified Indiana business and in 2014, the Indiana Economic Development Corporation offered Upper Hand up to $875,000 in conditional tax credits and up to $56,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. These incentives strengthen Upper Hand's position to hire additional team members in all areas of the business. Hiring efforts will focus on technology, sales and customer success.
Learn more about the Upper Hand software.