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Tagmarshal closes funding round to further growth
Introduced at the 2015 PGA Golf Merchandise Show in Orlando, Florida. Tagmarshal delivers a B2B SaaS solution to the growing golf industry problem of slow play. Through its sophisticated pace of play management system, Tagmarshal turns this widespread challenge into an opportunity for golf courses to unlock significant additional revenue and improve player satisfaction.
The course and field optimisation system was bootstrapped in South Africa by a team of four co-founders and gained early successes by catching the eye of several major championship venues in the US. The technology, which uses small GPS tags to transmit player movement data to course management, has a chance to revolutionize the United States’ multi-billion dollar golf industry.
Following an initial angel round by European investors in Q1 of 2016, Tagmarshal’s product advancements and growth performance saw the company aggressively increase its customer base and revenue over the next two quarters.
The second funding round was again led by first round lead investor Christian Vollmann, a well-known and particularly active multi-exit founder and investor from Berlin, Germany. He was joined by five new EU and SA-based investors, among them James Espey OBE and Florian Bauer. Tagmarshal’s founders and another round one investor also followed on in part and the round was oversubscribed by early December.
“We have a proven product and a growing list of customers that are not only getting results and significant ROI, but are happy to recommend and refer their networks. This speaks volumes for the effort our team has put into working closely with some of the industry’s best courses, focusing on advancing the technology to help achieve their business goals” said Bodo Sieber, Tagmarshal co-founder and CEO.
Sieber, a German national and long-time South African resident with previous startup experience in Berlin, added “We are excited to be in a solid position to focus on expanding our U.S. and international footprint. We are obviously delighted to work with a strong group of investors to back us in this growth phase. Personally I believe this funding round also supports our decision to run operations from Cape Town, which has recently been voted as a stand out destination for foreign direct investment.”
The company predicts rapid growth at an existing distribution hub and sales branch in the U.S. Another part of the expansion strategy is the appointment of the U.S. golf and sport marketing firm, ‘Buffalo.Agency,’ a division of Billy Casper Golf – one of the world’s top golf management companies..
“We’re part of the growing list of Tagmarshal believers because the value they bring is so clear ,” says Rich Katz, Managing Director of Buffalo Agency. “Several of the world’s top courses use Tagmarshal because it allows them to make data-driven decisions that lower average play times, improve player experience, reduce costs and deliver additional revenue.”