Snowvation is a cloud software company whose mission is to make everything at a ski resort, for both the guests and employees, possible from a smartphone. They are in-market with their first product, SV Enterprise, a solution for ski resorts to better manage ski and snowboard instructors and lessons. They also have a B2C product called ShredBetter, that allows potential guests to review ski/snowboard instructor profiles and to book lessons directly with them. Snowvation has traction with 8 ski resorts around the globe, including 5 in the U.S., 2 in Japan and 1 in China, with almost $100k in 2016 sales. Snowvation is raising a $500k round to scale its product to 25+ resorts globally over the next 12 months.
The company graduated from the RVC HyperAccelerator program in January 2017, and recently pitched at RVC’s Angel Capital Summit on March 21st, receiving the highest investor interest at the investor forum that followed. RVC is working with several other Angel groups for syndication on this deal, including Delaware Crossing Investor Group, and Ben Franklin Technology Partners, and other notable investors, including ski legend Bode Miller, have joined this round.
May 8th 2017 Update:
Snowvation recently attended the National Ski Area Association National Convention in Scottsdale, AZ. Here is what came out of that weekend conference:
1) Signed on 2 new paid customer ski areas.Snowvation added a total of 16 strongly “qualified to buy” resorts to their pipeline, including major names like Arapahoe Basin (CO) & past Olympic host Whiteface (NY), as well as smaller areas like Lutsen Mountains (MN) & Purgatory Resort (CO).
2) They ironed out the details of their new partnership with Liftopia Inc., the leading online platform for buying lift tickets in the ski industry. Snowvation’s CEO, Michael Stocker, met with the CEO & Founder, Evan Reece to finalize this relationship.
Liftopia is also a post series-B venture backed company, with whom Snowation has entered into a mutual NDA. They believe their partnership and planned integration of parts of their respective technologies is a significant step in soliciting strong interest from Liftopia and others in early exit opportunities over the next 1-2 years.
3) Snowvation spent a lot of time getting to know the team (Tom & Scott) from RVC-backed Ascent 360, who also attended the show. As they got to know them better, they found that their respective technologies could be very complementary. Further, lead sharing & referrals are on the Snowvation radar and they have plans to establish a strategic partnership with the Ascent 360 team on their path to be the leading CRM in the ski industry.
- Snowvation RVC Due Diligence Report – published 03/10/2017
- Snowvation Final Term Sheet – Preferred Equity, $500k raise, $3.5M pre-money valuation
- Snowvation Pitch Video: RVC HyperAccelerator Demo Day 01/23/2017
- Snowation Investor Response Report:Angel Capital Summit Investor Forum 03/22/2017
- Snowvation Investor Deep Dive Video:Deep Dive 04/03/2017
- Product Demo Video– Fast-forward to 1:32:00 in the Deep Dive video