Indianapolis-based Upper Hand Inc. has closed on a $1.5 million round of funding. The cloud-based sports management software company says the latest investment from Park Ten Capital brings its total funding to $4 million.
Upper Hand says it plans to use the funding to further its investment in innovative technologies to support its growing nationwide customer base. The company also plans to expand its hiring efforts in customer support and product development, as well as continued development of technical and strategic partnerships.
"Attracting such a prestigious investor is recognition of our potential to solve the fragmentation in today’s sports industry," said Kevin MacCauley, who founded the company in 2011. "This funding gives us the financial strength to advance our goals and deliver unparalleled value to sports business owners in a way that optimizes business results while perfecting athlete development."
The announcement of the funding comes just weeks after Upper Hand completed its acquisition of Maine-based Double Blue Sports Analytics Inc., which produces app-based video analysis technology. The company also closed on a $1.1 million round of funding last August.
Upper Hand says its user base has grown by 125 percent and revenue has risen 165 percent over the past year.