Hunting app secures $825K in funding
A startup web and mobile app to help hunters and anglers pinpoint their next locations has raised $825,000 in funding.
Sportsman Tracker said today that it has secured the funds after new investors lined up to help fuel the startup’s moble development and market expansion.
The funding concludes Sportsman Tracker’s $950,000 seed-financing round.
The Sportsman Tracker platform leverages an adaptive algorithm to analyze a hunter’s or angler’s location and the species they hunt to develop predictions and forecasts of animal behaviors and patterns.
The round was led by early stage investors Start Garden — the $15-million seed fund in Grand Rapids, which previously committed to a $125,000 total investment — and Huron River Ventures, which focuses on investing in early stage companies based in Michigan and the Midwest.
The hunting and fishing tool also received investments during the financing round from several other organizations: Detroit Innovate, a seed-stage investment fund; Muskegon Angels, an angel investor group focused partly on technology; and Karis Capital Partners, a Connecticut-based boutique firm.
Sportsman Tracker received an initial investment of $5,000 from Start Garden in 2013, a subsequent investment of $20,000 after presenting on its progress and a $100,000 investment from Start Garden in 2014 based on the desirability of the product and its user-base growth.
Tim Streit, a partner at Huron River Ventures, said the firm is very excited about Sportsman Tracker and how the platform can become an outdoor sports destination for hunters and anglers of any background.
“They have put together a great technology with an extremely scalable platform,” Streit said. “Sportsman Tracker is perfectly positioned to break into the hunting and fishing industry to establish an entirely new brand. Huron River Ventures and our co-investors recognize the value Sportsman Tracker brings to this market and look forward to assisting Jeff and his team with scaling and market adoption.”
Sportsman Tracker said the $950,000 seed-financing round will help it launch a “next-generation mobile platform” and expand its reach in the roughly $90-billion hunting and fishing industry.
The web and mobile application, which is compatible with iOS and Android mobile devices, includes several features: individual dashboards, photo galleries, log activities and analytical reports.
Jeff Courter, founder and CEO of Sportsman Tracker, said the platform focuses on tools enhancing the experience for hunters and anglers, and with the new investment, the intelligence built into the next release will “guarantee” the platform as a “must-have addition to a hunting or fishing trip.”
“It really gives us the ability to move forward quickly and to scale up,” Courter said. “We have used the money we had to help solidify creating a product hunters and fishermen like, and now we can essentially pour gasoline on the flame. We are excited to move forward and create a space where people can get outside and enjoy the outdoors together.”