18Birdies Scores with Growth Funding from Decathlon Capital Partners
Revenue-based transaction will fund company’s expansion via a dilution-free funding package
OAKLAND, CA (PRNEWSWIRE) SEPTEMBER 29, 2022
18Birdies, developer of the No 1 game-improvement and social platform for golfers, has positioned itself for a new chapter of growth as it struck a significant funding deal with Decathlon Capital Partners. Details of the transaction were not disclosed.
18Birdies will use the fresh capital to support new product-development initiatives, expand its customer-support capabilities and develop new partnership relationships. Headquartered in Oakland, Calif., 18Birdies created the top-rated platform that provides golfers the tools they need to play their best and connect with friends, families and the golfing community. The company was launched in 2014.
Eddy Lui, Founder and Chief Executive Officer of 18Birdies, is a veteran technology executive and passionate golfer who is driven to modernize and grow the game of golf. “The 18Birdies app uses artificial intelligence to coach golfers and improve their game, delivers on-course tools that make every round more enjoyable and builds connections among golfing friends who are eager to share their experiences,” Lui said. “This funding provides the flexibility that our growing company needs to meet its aggressive goals, and we appreciate the crisp, transparent professionalism of Decathlon Capital Partners.”
18Birdies will repay the investment through its future revenues. No equity or ownership was exchanged for the growth capital, and 18Birdies was not required to give up any control of the company.
John Borchers, Managing Director of Decathlon Capital Partners, said 18Birdies was the most-downloaded golf app in 2020 and 2021 and is experiencing rapid growth of active users in its online community. “It is clear that 18Birdies delivers the technological leadership to become an even more dominant app and social-media community for golfers in 2022 and beyond,” Borchers said.
Founded in 2014, 18Birdies is now the No. 1 rated game-improvement and social platform for golfers. Our mission is to empower all golfers with the tools they need to play at their best — while they’re on or off the course. Avid and beginner golfers reach for 18Birdies to get distances, plan and manage their rounds and stats, learn and challenge themselves with our practice tools and content — and to connect with friends, family and the larger 18Birdies community to share in their collective golf journeys. Learn more at www.18Birdies.com.
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at www.decathloncapital.com.