Blue Star Innovation Partners and PSG Complete Sale of PlayMetrics to Genstar-backed Stack Sports
FRISCO, Texas--(BUSINESS WIRE)--Blue Star Innovation Partners ('BSIP'), a growth equity investment firm built by founders, for founders, and PSG, a leading growth equity firm that specializes in partnering with software and technology-enabled services companies to capitalize on transformational growth today announced the firms have completed the sale of PlayMetrics, a leading club management software provider for youth sports teams and leagues, to Stack Sports, a Genstar Capital-backed global provider of software solutions for youth, amateur, and professional sports organizations.
Founded in 2017, PlayMetrics centralizes administrative functions for youth club sports organizations. On a single, user-friendly interface, PlayMetrics streamlines registration, scheduling, communication, payments, and coaching tools. Today, the company supports about 2,500 youth sports clubs, tournaments, leagues, and governing bodies across over 10 sports.
In just 18 months following their initial investment in August 2023, BSIP and PSG helped PlayMetrics achieve transformational growth, expanding its customer base by 5x and optimizing its payments monetization strategy. During this period, PlayMetrics introduced new solutions for governing bodies, state associations, and tournament organizers and diversified the platform beyond its initial focus on club soccer. Both firms helped facilitate PlayMetrics' acquisition of Crossbar to expand its services in club hockey, lacrosse, volleyball, and baseball. BSIP and PSG identified Stack Sports as the natural partner for PlayMetrics' next phase of growth given their longstanding relationship.
'BSIP and PSG have helped us achieve transformational growth in a relatively short timeframe. Their operational expertise, knowledge of our space, and relationship with Stack Sports were instrumental to help us arrive at this milestone,' said Mike Doernberg, CEO and Founder of PlayMetrics. 'We couldn't be more excited about our next chapter as part of Stack Sports as we aim to provide the best possible experience to youth sports program directors, administrators, coaches, players, and families.'
'We are incredibly proud of what the PlayMetrics team has accomplished under Mike's visionary leadership,' said Dan Wechsler, CEO of BSIP. 'Together, we transformed PlayMetrics from a promising software platform into a market leader in sports management technology, delivering value for our investors and customers. Mike and his team's dedication to innovation and customer success were key drivers, and we wish them all the best as they embark on their next chapter.'
'Given our experience in this space, we identified PlayMetrics as a next-gen player shaping the future of youth sports operations. We believe the significant growth the company has achieved since our investment alongside BSIP is a testament to its position as a category leader,' said Marco Ferrari, Managing Director at PSG. 'We wish the entire team continued success with Stack Sports.'
Weil, Gotschal & Manges LLP acted as legal counsel and William Blair acted as financial advisor to BSIP and PSG.
About Blue Star Innovation Partners
Blue Star Innovation Partners is a Dallas, Texas based growth equity firm built by founders, for founders. Our team brings decades of experience scaling software, payments, and fintech businesses, giving us a unique advantage on the challenges and opportunities that founders face. We're currently investing out of our third fund, leveraging our proven track record to help management teams accelerate growth and build category leaders. Learn more at www.bsipgp.com/.
About PSG
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 150 companies and facilitated over 520 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv. To learn more about PSG, visit www.psgequity.com.
The PlayMetrics Club Operating System acts as the single source of truth that helps youth sports organizations streamline and modernize their daily operations. Trusted by some of the most forward-thinking youth sports clubs, PlayMetrics empowers directors, coaches, administrators, and player families to become shockingly efficient with unified financial, operational, coaching, and communication tools. Learn more at https://home.playmetrics.com/
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