Golf tech firm launches £1m crowdfunding round
A golf technology firm which is ‘changing the experience for amateurs’ has launched a £1m fundraising round on crowdfunding site Seedrs.
VPAR has developed a range of technology, and its first product was a live scoring service which gave amateur golfers the ability to see their live leaderboard standing on course, in the clubhouse and online.
Today, the London-based firm runs thousands of tournaments across 22 countries, and supplies live scoring to some of the world’s most recognised brands and golf courses – these include the PGA Tour and companies such as HSBC and PWC.
Its latest app provides golfers with on-going statistics, a GPS course planner and other features targeted at users wanting a digital scorecard or golf trip companion.
Chief executive officer at VPAR, Jason Stoop, said: “This year we’ll continue to connect golfers, and provide the best experience on and off the course possible, motivating them to compete day in, day out.
"We believe the VPAR app will have been downloaded more than 3 million times and will provide club technology to 1,350 clubs and generate over £11 million of annual revenue by the end of 2020.”
According to VPAR, it now has 200,000 app users, growing at more than 4,000 a week during the golf season – peaking at 8,000.
Jonathan Barnett of BNP Investment said: "It is a really exciting investment opportunity, not just for golf and tech lovers, but because the global golf market has mammoth proportions and this is just the beginning for VPAR which makes them an exciting prospect.”