The JumpFund ‘hit it out of the park,’ you might say, with its first-ever investment.
The Chattanooga-based early-stage angel fund invested in the women-led, Louisville-based mobile fan engagement platform SuperFan back in 2014.
Since then The JumpFund’s Kristina Montague told Hypepotamus the fund watched SuperFan’s team grow their client base across colleges and high schools sports programs while adding “features such as fundraising and event ticketing tools that made its products “stickier” and of higher value in the sports fan engagement space.”
The SuperFan’s team wrapped up September 2021 announcing they had been acquired by SportTech company PrestoSports.
“Presto serves over 1700 school athletic programs with its websites and technology solutions and SuperFan’s mobile application will add real and immediate value to their existing portfolio of offerings. This is a win-win partnership for both companies and the founding partners of SuperFan,” added Montague.
University of Kentucky grad Kayla Mount co-founded SuperFan and served as its COO until October of 2020. She stepped into the CEO role in the middle of COVID, as sports teams of all levels tried to navigate new pandemic realities.
“By joining PrestoSports, we can enhance the solutions and services provided to our customers,” Mount said in a statement. “We can also accelerate the availability of a fully integrated platform for sports programs everywhere, empowering them to execute impactful fundraising and digital fan engagement.”
SportsTech in the Southeast
SuperFan’s platform provides ticketing and promotional options for sports teams at the high school or collegiate level. Its acquisition is another positive sign for the Southeast’s impressive SportsTech and sports-focused entrepreneurial scene.
SuperFan’s acquisition is the latest success story to come out of The JumpFund’s growing portfolio.
The fund invested in Jewel Burks Solomon’s PartPic during its 2015 seed round. PartPic was ultimately acquired by Amazon, and Solomon is now an active investor and Southeast tech ecosystem leader as head of Google for Startups, U.S.
The JumpFund’s portfolio also includes Atlanta’s FundingU, Emrgy, Rimidi, Bark, The Fearless Fund, EnrichHer, Inclusivv (previously Civic Dinners), Acivilate, and Motivo. It also has invested in Raleigh-based luminelle360, Nashville’s Utilize Health, New Orleans’ Resilia, Florida-based Worthy Financial, Inc., along with The MomSource and Stony Creek Colors in Tennessee.
While national data shows that women-led companies landed only 2.3% of all VC funding in 2020, Montague is encouraged by the “exponential growth of new funds and funds and angel networks focusing on women and BIPOC founders” seen across the Southeast.
“As one of the first and only gender lens investors in this region, it has been wonderful to have other investors coming to the table to provide access to capital for underrepresented entrepreneurs,” she added. “JumpFund is an investor in the Fearless Fund, investing in Black women entrepreneurs, and EnrichHer, a debt funding platform for women growing their ventures. We also have many other funds and networks led by women with which we co-invest and share deals across the country, including Next Wave Impact, Kachuwa Fund, True Wealth, Portfolia, Female Founders Fund, and Goldenseeds, many of which have been investing in women-led ventures in the Southeast.”