LeftLane Sports Closes on New Round of Funding
Sep 10, 2013 (Close-Up Media via COMTEX) --
LeftLane Sports, a members-only flash sale site for endurance, outdoor, and action sports enthusiasts, closed a second round of equity financing.
According to a release, subsequently, the company secured a multi-million dollar credit facility with Silicon Valley Bank. The investments were well timed to support the recent e-commerce deals LeftLane struck with the Active Network, a cloud-based Activity and Participant Management (APM), and Competitor Group Inc., an active lifestyle media and event promoters.
As of July 2, LeftLane Sports is the main provider of all e-commerce for the varied entities of the Competitor Group, Inc. LeftLane Sports will control e-commerce for Gearbuzz.com, as well as manage online shopping functionality for the Competitor Group properties, the company said. These include: Competitor, Women's Running, Velo News, Triathlete, and Inside Triathlon magazines, and over 80 national events, including the Rock 'n' Roll Marathon Series, among others.
LeftLane Sports noted that it created a similar partnership with the Active Network in November 2012 with the launch of Active GearUp. Together, the two partnerships provide LeftLane Sports with access to over 80 million users annually.
"We're thrilled with our recent partnerships and acquisitions, and we are grateful to our investors for making it fiscally possible to continue to deliver on our promise of exemplary service and 'insider' access to the world's top brands," said Erik Fialho, Chief Strategy Officer for LeftLane Sports. "These strategic partnerships fit into our past two years of rapid expansion and into our long-term goals. As we expand, we will continue to place top value on the brand-segmentation within our portfolio of member-exclusive sites. As individuals, we are all active and passionate about our own outdoor sports, so we understand site autonomy is crucial to maintaining an authentic relationship with our members and brand partners. At the same time, we're able to capitalize on our robust infrastructure and technical expertise in order to effectively scale operations among and between these distinct audience preferences."
((Comments on this story may be sent to firstname.lastname@example.org))
[ InfoTech Spotlight's Homepage ]