Indianapolis-based Upper Hand Inc. has used the help of former executives from Finish Line Inc. (Nasdaq: FINL), also based in Indianapolis, to complete its most recent round of financing. The company has raised $1.3 million since January 2014 and plans to use the new funds to support employee growth and software expansion.
Upper Hand says it expects to launch the next version of its online sports management service in the second quarter of this year. The company adds it is working with a top 500 corporate franchise.
"Transitioning from a startup to a scalable company is a challenging phase, further magnified by the fragmentation in the sports industry," said Kevin MacCauley, founder and chief executive officer of Upper Hand. "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 co-founder of Finish Line, Larry Sabloski, along with former president and chief executive officer Steve Schneider and former president of e-commerce Don Courtney, co-led the financing round. They were joined by Sheets Smith Wealth Management and Upper Hand shareholders throughout the country.
"Upper Hand has put together an ambitious and committed team that is continuing to grow," said Sabloski. "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."
Upper Hand says its hiring efforts will focus on technology, sales and customer success. The company was a nominee in the 2016 Mira Awards for New Start-up of the Year.