SponsorCX Secures Growth Equity Funding Led by Blueprint Equity
Today SponsorCX, Inc. announced it has received a growth equity investment led by Blueprint Equity. Transaction details have not been disclosed at the investor's request. In conjunction with the investment, Michael Merritt from Blueprint Equity will join the Board of Directors. Based in Solana Beach, CA, Blueprint Equity provides expansion capital to high-growth, capital efficient enterprise software and technology-enabled services businesses worldwide. It has $275 million of assets under management.
Founded in 2017 in American Fork, Utah, SponsorCX is a sponsorship management platform within the sports, entertainment, non-profit, arts, and events industries. It's an all-in-one platform streamlining customers sales, fulfillment, and inventory. The company says it plans to deploy the funding to further invest in client support, sales, and engineering teams, as well as add new software features to further support its current and prospective customer base.
In October 2021, TechBuzz News covered the company's angel investment (whose details were also undisclosed) led by Utah-based investor Jeff Burningham and other founders of Peak.
SponsorCX’s has experienced strong growth since its 2021 launch. The company's property platform has increased the size of its customer-based over 400% year-over-year, reports the company. It is used by well-known properties, such as Clemson University Athletics, Barrett-Jackson Auction Company, Van Wagner Sports and Entertainment, and the National Association of Clean Water Agencies (NACWA).
Notable Utah-affiliated clients using the SponsorCX platform include Real Salt Lake, Hale Centre Theater, Larry H. Miller Megaplex Theaters, Loveland Living Planet Aquarium, Utah Youth Soccer Association, and Thanksgiving Point.
“This is a very exciting time for SponsorCX,” says Jason Smith, founder and CEO of SponsorCX. “From the beginning, our goal was to have a platform built by sponsorship professionals for sponsorship professionals. Our team has worked extremely hard to create an amazing platform for the sponsorship industry. This partnership with Blueprint, allows us to take the software to even greater heights.”
“SponsorCX has experienced exceptional growth since officially launching in late 2021 and what really stuck out to us was SponsorCX’s all-in-one platform for all things sponsorship related,” said Michael Merritt, Vice President with Blueprint Equity. “There is no easy way for properties or brands to manage sponsorships, and it is a very time-intensive, manual process to do so without the use of any technology. SponsorCX allows its customers to manage the entire process in one place while providing extensive functionality and optionality.”
“SponsorCX has been a blessing for our overall Business Development Team,” says Gabrielle Doria, Director of Partnership Activation with the Premier Lacrosse League. “We have never had a tool that both our activation team and sales team have been able to use in tandem.”