Varsity News Network (VNN) announced today that it has raised $3 million in Series A funding to expand its platform and launch it very first app, according to TechCrunch.
The Series A round was led by Arsenal Venture Partners. North Coast Technology Ventures, Start Garden, RSL Venture Partners, Grand Angels, First Step Fund, Michigan Angels, Michigan Angel Fund, and Muskegon Angels also participated in the financing. The sports startup will use the new capital to scale its operations and get more schools to sign up with them, the report detailed.
VNN works by pulling in media from various social channels to provide information about the athletic departments of high school institutions. Schools can easily afford and manage the said website. While local media tend to highlight superstars, VNN provides equal opportunities for all players to shine, the report explained.
Co-founder and Chief Executive Officer Ryan Vaughn said in a statement today: "In just over two years we've grown the VNN platform to include more than 250 schools in 14 states, supporting hundreds of thousands of students and their families. With this capital, we are poised to grow even faster and reach the 40 million students and family members who are left out of traditional sports media coverage."
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