Cape Town-based startup Tagmarshal, which has developed a software as a service (SaaS) solution that alerts golf courses of slow play, has expanded to the United States (US) after raising an undisclosed amount of funding.
Disrupt Africa first reported on Tagmarshal, which has developed a sophisticated pace of play management system that allows golf course managers to actively pursue a faster pace of play, in February 2015.
The Tagmarshal system uses a series of small tags clipped onto one bag per golf group, or installed into carts, which transmit GPS data to course operations staff. Courses using Tagmarshal realise substantial returns on investments through increased daily capacity.
Initially bootstrapped, Tagmarshal raised an angel round from European investors early last year to scale up the business, and has now raised a second funding round led by Berlin-based first round lead investor Christian Vollmann.
He is joined by five new European Union and South Africa-based investors, among them James Espey and Florian Bauer. Tagmarshal’s founders and another round one investor also followed on in part, and the round was oversubscribed by early December.
“We have a proven product and a growing list of customers that are not only getting results and significant ROI, but are happy to recommend and refer their networks. This speaks volumes for the effort our team has put into working closely with some of the industry’s best courses, focusing on advancing the technology to help achieve their business goals,” said Bodo Sieber, Tagmarshal co-founder and chief executive officer (CEO).
“We are excited to be in a solid position to focus on expanding our US and international footprint. We are obviously delighted to work with a strong group of investors to back us in this growth phase. Personally I believe this funding round also supports our decision to run operations from Cape Town, which has recently been voted as a stand out destination for foreign direct investment.”
Source: Disrupt Africa