Teamr, a leading team management company, remains self funded while other web based software companies continue to burn through millions of dollars of venture capital funding.
San Diego, CA November 25, 2008 -- While other team management software sites such as Active.com are using close to $280 million in venture capital dollars, the teamr family of sites that includes MyTeamCaptain, MyScoutLink and MyHOAHelper remains entirely self-funded, an important distinction in today's volatile market.
"Many of our competitors are relying on Venture Capital to finance expansion, which is certainly an acceptable route to follow, but we felt this wasn't in line with what we wanted to do with our team management software solutions," Lars Helgeson, President of teamr explains. "While venture capital can provide you with an influx of money for rapid growth, you lose a significant amount of control over company decisions. You then have a group of people you have to answer to from a profit standpoint and that can affect important decisions about the integrity of your product." Helgeson adds, "Two of our most important products: our team captain management software and our scout software have been developed with very specific needs in mind and we're very proud of them. We don't want the bottom line to affect the quality of these software products."
Many of our competitors are relying on Venture Capital to finance expansion, which is certainly an acceptable route to follow, but we felt this wasn't in line with what we wanted to do with our team management software solutionsWhile venture capital can provide you with an influx of money for rapid growth, you lose a significant amount of control over company decisions. You then have a group of people you have to answer to from a profit standpoint and that can affect important decisions about the integrity of your product.Two of our most important products: our team captain management software and our scout software have been developed with very specific needs in mind and we're very proud of them. We don't want the bottom line to affect the quality of these software products.In today's market, venture capital dollars come at a high cost. Companies lose a portion of their company ownership in exchange for cash. Since many of our team management software packages are successful, we know that investing in ourselves is the best option.Why invest in something else when we can invest in our own dream, something we really believe in? Lars Helgeson, Cooler email founder and Internet entrepreneur, launched the teamr family of sites under the original name MyTeamCaptain as a way to manage his own league hockey team and soon recognized the need for this type of online group management capability in other areas. He leveraged the technology to create multiple portals for specific groups, including MyScoutLink and MyHOAHelper, which along with the original MyTeamCaptain remain the most popular. Today Helgeson continues to pursue further growth by reinvesting in teamr rather than putting profits in the stock market or other personal investments.
Helgeson elaborated on his financial plans for teamr by saying, "In today's market, venture capital dollars come at a high cost. Companies lose a portion of their company ownership in exchange for cash. Since many of our team management software packages are successful, we know that investing in ourselves is the best option." Helgeson concluded, "Why invest in something else when we can invest in our own dream, something we really believe in?"
About teamr
Teamr was founded by Lars Helgeson to create a way for team leaders to manage their leagues with easy to use league software and soon expanded to provide software solutions for everything from event organization to HOA management. Teamr is headquartered in San Diego, California. For more information on teamr or their team management software, visit http://www.teamr.com or call 760-845-1784.
