TELEO Capital completes significant growth equity investment in Teesnap
TELEO Capital Management (TELEO) has made a significant growth equity investment in Teesnap, a golf course operations management software platform.
TELEO will be partnering with existing shareholder, Allegiant Travel Company (Allegiant), to invest in product and go-to-market initiatives.
Based in Las Vegas, Teesnap offers a cloud-based software solution that helps golf course operators create a better customer experience and drive improved decision-making through big data and smarter business intelligence. The comprehensive SaaS platform provides real-time tee time scheduling, mobility-enabled point-of-sale, pricing optimisation, inventory management, intelligent marketing and business reporting. The Business' managed marketing services leverage Teesnap's in-house marketing specialists to execute data-driven marketing campaigns to reach new customers, retain existing customers and improve golf course profitability. TELEO's significant investment will support continued product innovation, geographic expansion and follow-on acquisitions.
"The golf industry is experiencing substantial growth, increasing the need for course operations management and revenue enhancing solutions. Teesnap's mobility-first cloud delivered software platform and advanced marketing services provide significant value for course operators. Our investment in the product and team will improve upon Teesnap's existing platform to enhance a best-in-class solution to golf courses and additional markets. We look forward to supporting the business through this next stage of growth," says John McCormack, an Operating Partner at TELEO Capital.
"We are very proud of the team and SaaS platform we have built at Teesnap and we have been privileged to serve a significant and growing customer base," says Gregory C. Anderson, Executive Vice President and Chief Financial Officer of Allegiant. "We've partnered with TELEO with confidence that their deep expertise in growing and scaling SaaS platforms will further accelerate Teesnap's growth trajectory. This partnership will be a game-changer for technology intelligence in golf course management."
"TELEO resonated from the very beginning as a team that understands our potential and has both the resources and experience to help us achieve our long and short-term goals. TELEO's vision is to invest in both human capital and technology to ensure we have the tools to win, drive our innovation engine and continue to build upon our competitive advantages. I'm proud of all the work and dedication from our team to realise this great milestone for Teesnap," says Jason Copley, President of Teesnap.