Moorestown, NJ – RunSignUp, the leading Race Management Platform in the US, today announced a capital investment of $1 Million by Bob Bickel, the founder and owner of the company.
The purpose of the investment is to assure sufficient capital in light of the legal expenses from the Active Network lawsuits against 1N3 and TMT – https://runsignup.wordpress.com/2016/08/15/active-seeks-to-add-runsignup-and-bob-bickel-to-lawsuit/. This investment fits within RunSignUp’s strategy of scalable growth without dependence on outside investors.
“We want to make sure that RunSignUp continues to have leading technology and service for 14,000+ races who use us,” said Bob Bickel. “Our growth has led to a very strong business, with good cash flow. The legal expenses have become larger than our monthly cash flow recently with increased legal activity such as depositions and document searches. I’ve decided to invest an additional $1 Million to make sure we have plenty of cash to defend ourselves, and make sure we are not short-changing our employees or customers.”
RunSignUp is the leading innovator of online tools for race registration, race day solutions, and running clubs. Services include RunSignUp for registration, RunSignUp Go for Race Day, RunSignUp RD Go for Timers, RunSignUp Clubs to enable membership management, and RaceJoy for mobile experiences. More than 10,000 race directors, timers, running club officers and running stores use these services today, including leading organizations like the Boilermaker Road Race, Crim Festival of Races, Pittsburgh Three Rivers Marathon, Inc., Fifth Third River Bank Run, Blacklight Run, Bubble Run, Night Nation, Mercedes Marathon, Kentucky Derby Festival, Leone Timing, KC Running Company, Compuscore Timing, Knoxville Track Club, Pikes Peak Road Runners, Gulf Coast Runners, Columbus Running Company, Playmakers Running Store and many more. In 2015, over 10,000 races used the system to register more than 2.7 million participants. In 2016 over 14,000 races will use the system to process over 4.3 million paid registrations. Services are free except for processing fees when conducting monetary transactions such as race registration or club membership renewal. RunSignUp is founded by runners for runners, using technical capabilities to bring the power of cloud computing to benefit the running community. For more information, visit www.RunSignUp.com.