Gandel Invest has acquired a stake in Australia-based sports CRM specialist EngageRM after taking half of the Series A scrip offered in a strategic placement of the company.
EngageRM, which lists the NBA’s Los Angeles Clippers, NFL’s Chicago Bears and the Melbourne Cricket Ground (pictured) among its partners, will use the funds to further strengthen its US foothold and aid its expansion into the UK.
Gandel Invest is led by father and son duo Tony and Adam Gandel, and the latter will assume a seat on the EngageRM board following the investment.
EngageRM chief executive Ned Coten said: “We are teaming up with an incredibly well known and respected Australian business and investment family, who are highly regarded both here and around the world.
“The Gandel family has been a part of the fabric of Australian business for decades and we could not ask to have a better or more strategic partner in our business.”
EngageRM is being supported by accounting and advisory firm William Buck in its investor search. William Buck led the company’s first capital raise 12 months ago, enabling it to deepen its resources and partner with Microsoft as one of five companies globally in a specialised co-sell programme.
EngageRM said Microsoft’s co-sell programme has helped it to build and scale its platform, strengthen its marketing and provide a more “sophisticated” offering to overseas markets.
EngageRM is set to announce a number of other US deals in the coming weeks and is also poised to sign its second client in the UK. Partners in its native Australia include AFL teams Collingwood, Carlton and Essendon, as well as the NRL’s South Sydney Rabbitohs and Netball Queensland.
EngageRM said it would welcome an additional strategic investor with a strong client in the sports and entertainment vertical to assist it with the accelerated delivery of its products, co-developed with Microsoft engineers.
Click here for our in-depth interview with EngageRM, which is a sponsor of this year’s TheStadiumBusiness Summit at Emirates Old Trafford in Manchester.
Image: Richard Munckton/CC BY 2.0/Edited for size
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