LOS ANGELES, May 5, 2021 /PRNewswire/ -- TELEO Capital
Management, LLC ("TELEO") announced a significant growth
equity investment in Teesnap, LLC ("Teesnap or the Business"), a
golf course operations management software platform. TELEO
will be partnering with existing shareholder, Allegiant Travel
Company ("Allegiant"), to invest in product and go-to-market
initiatives.
TELEO CAPITAL COMPLETES SIGNIFICANT GROWTH EQUITY INVESTMENT IN
TEESNAP
Based in Las Vegas, Teesnap
offers a cloud-based software solution that helps golf course
operators create a better customer experience and drive improved
decision-making through big data and smarter business intelligence.
The comprehensive SaaS platform provides real-time tee time
scheduling, mobility-enabled point-of-sale, pricing optimization,
inventory management, intelligent marketing and business reporting.
The Business' managed marketing services leverage Teesnap's
in-house marketing specialists to execute data-driven marketing
campaigns to reach new customers, retain existing customers and
improve golf course profitability. TELEO's significant investment
will support continued product innovation, geographic expansion and
follow-on acquisitions.
"The golf industry is experiencing substantial growth,
increasing the need for course operations management and revenue
enhancing solutions. Teesnap's mobility-first cloud delivered
software platform and advanced marketing services provide
significant value for course operators. Our investment in the
product and team will improve upon Teesnap's existing platform to
enhance a best-in-class solution to golf courses and additional
markets. We look forward to supporting the business through
this next stage of growth," said John
McCormack, an Operating Partner at TELEO
Capital.
"We are very proud of the team and SaaS platform we have built
at Teesnap and we have been privileged to serve a significant and
growing customer base," said Gregory C.
Anderson, Executive Vice President and Chief Financial
Officer of Allegiant. "We've partnered with TELEO with
confidence that their deep expertise in growing and scaling SaaS
platforms will further accelerate Teesnap's growth trajectory. This
partnership will be a game-changer for technology intelligence in
golf course management."
"TELEO resonated from the very beginning as a team that
understands our potential and has both the resources
and experience to help us achieve our long
and short-term goals. TELEO's vision is to invest in both
human capital and technology to ensure we have the tools
to win, drive our innovation
engine and continue to build upon our competitive
advantages. I'm proud of all the work and dedication from our
team to realize this great milestone for Teesnap," said
Jason Copley, President of
Teesnap.
About Teesnap
Teesnap provides cloud-based
software and services to golf courses. The Business offers a full
suite of software solutions and managed services that help golf
courses save time, create better experiences for their customers,
and gain a competitive advantage through big data and smarter
business intelligence. This includes point of sale, tee sheet
management, online bookings, billing, managed marketing, inventory
management and employee services. Teesnap is headquartered in
Las Vegas, NV and services golf
courses across the United
States.
For additional information, please visit www.teesnap.com
About TELEO Capital
TELEO Capital is a lower
middle market private equity firm that looks to invest in
opportunities where its strategic thought, operational resources
and capital base empower management to perform and execute their
business plan. With over 100 years of collective private equity
experience, we bring a successful track record of executing
corporate carve-outs, recapitalizing broken balance sheets,
acquiring founder-owned companies, as well as buy and build
strategies for our portfolio companies. TELEO targets opportunities
in the technology & software, healthcare IT, business services
and industrial sectors. The firm is based in Boise, ID and Los
Angeles, CA.
For additional information, please contact Matt Oehlmann at
moehlmann@teleocapital.com or visit our website at
www.teleocapital.com.
About Allegiant Travel Company
Las Vegas-based Allegiant (NASDAQ: ALGT) is an
integrated travel company with an airline at its
heart, focused on connecting customers with the people, places
and experiences that matter most. Since 1999, Allegiant
Air has linked travelers in small-to-medium cities to
world-class vacation destinations with all-nonstop flights and
industry-low average fares. Today, Allegiant's all-Airbus fleet
serves communities across the nation, with base airfares less than
half the cost of the average domestic roundtrip ticket. For more
information, visit us at Allegiant.com. Media information,
including photos, is available
at http://gofly.us/iiFa303wrtF
For additional information, contact: Allegiant Media Relations,
702-800-2020, mediarelations@allegiantair.com
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SOURCE TELEO Capital Management, LLC