Mayhem Sports becomes TechGROWTH client Jersey Watch's new lead investor
TechGROWTH Ohio client Jersey Watch has a new lead investor: Cincinnati-based serial entrepreneur Greg LaLonde.
Jersey Watch offers enabling youth sports groups to easily create websites to register players, collect online payments, and schedule games, practices and other events.
鈥淭he new investment from Mayhem will allow us to focus on a new business model of selling software instead of advertisements,鈥 Jersey Watch CEO Tim Gusweiler said. 鈥淲e鈥檙e focused on working with more sports organizations in U.S. and Canada and starting to build momentum.鈥
LaLonde created a holding entity, Mayhem Sports, to buy out TechGROWTH Ohio and Cincy Tech, which had made initial investments when Jersey Watch was founded in 2011. TechGROWTH also worked closely with Gusweiler to provide funding and guidance during the process, allowing the company to leverage more investment.
鈥淭hrough ups and downs for the company, TechGROWTH has provided consistent support,鈥 Gusweiler said. 鈥淭hey helped us adjust our business model and evaluate new opportunities.鈥
LaLonde said he was attracted to Gusweiler鈥檚 intellect, demeanor and his vision for Jersey Watch.
"The pandemic is accelerating digital transformations across all markets, including youth sports," LaLonde said. "Jersey Watch is well positioned to take advantage and lead that change. We are thrilled to be on their team."
Jersey Watch first expanded to the East Coast through The Brandery, a nationally ranked accelerator that invests in high-growth startups and is also a southwest regional partner of Ohio Third Frontier. Another Ohio Third Frontier regional entrepreneurial service provider, TechGROWTH Ohio, provides technology start-up companies in the 19-county Southeast Ohio area access to business assistance and sources of capital. TechGROWTH is a program of 51社区鈥檚 Voinovich School of Leadership and Public Affairs.
鈥淲e鈥檙e confident that Jersey Watch鈥檚 business will have both local and global impact,鈥 said Jane New, TechGROWTH鈥檚 manager of investments and new venture development. 鈥淎s physical distancing measures ebb and sporting events start again, there is immense market opportunity here for Jersey Watch to expand.鈥
Jersey Watch plans to hire approximately five additional people in the next 12 months.