January 26, 2011
Financing from Ignition Partners and private investors to help expand reach of company’s Playflow™ youth sports automation platform
SEATTLE, WA (January 26, 2011) – Korrio™ (korrio.com), provider of the 21st century sports automation platform Playflow™, has secured $3.3 million in Series A funding from Ignition Partners and private investors. The financing will help the company expand the reach of its Playflow™ platform in a variety of organized sports.
John Connors, Partner at Ignition Partners and former Chief Financial Officer at Microsoft, led the investment and was named to the Korrio board of directors. Martin Coles, former COO of Starbucks, CEO of Reebok, and an executive at Nike; and Sam Schmidt, former Indy Racing League driver and owner of Indy Lights Series racing team Sam Schmidt Motorsports, also participated in the funding and were named to Korrio’s Advisory Board.
“We have a remarkable team of advisors, directors, and investors who all share a passion for Korrio’s mission of transforming the youth sports experience,” said Korrio Founder and Chief Executive Officer Steve Goldman. “We are fortunate to have a team of this caliber helping bring our mission to life.”
Korrio’s Playflow™, which was launched publicly earlier this month, integrates web, mobile, and social networking elements to provide club administrators and coaches with a comprehensive and easy-to-use online sports automation system for managing all aspects of club and team operations.
“Forty-five million kids play organized youth sports today, four times the number 20 years ago, and the figure continues to grow, which makes this an exciting opportunity,” said John Connors, partner at Ignition Partners. “There is a glaring need in the market for a solution like Korrio’s, which takes advantage of the efficiencies and scale of the software-as-a-service model and delivers a solution that saves time and money for administrators, coaches, volunteers, and families, allowing everyone to focus on playing the game.”
For more information, visit korrio.com.
Ignition Partners, is a premier private investment group with offices in Bellevue, Washington and Shanghai, China. Ignition Partners’ affiliated family of funds includes Ignition Ventures and Ignition Growth Capital in the U.S. and Qiming Ventures in China. The investment group’s three categories of funds – early stage venture, growth capital and China ventures – brings together an unparalleled combination of domain focus, functional expertise and global operational experience with partners from leadership positions at Microsoft, McCaw Cellular Communications, AT&T Wireless, Cisco, Starbucks and other industry leaders.
Korrio, founded in January, 2009, is the developer of Playflow™, a 21st century youth sports automation platform. Korrio has a singular focus on kids and sports. The company’s mission is to transform the sports experience and elevate the level at which sports are played by automating the things that get in the way – like registration/payment, team formation, rosters, scheduling, communication and web hosting. Korrio is easy, safe, integrated, and mobile. Visit us online at korrio.com to learn how to elevate your game.