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Snag-A-Slip Expands With New Financing

06-Feb-2017

The online slip-reservation system Snag-A-Slip is poised to become a leader in the growing boating app world thanks to $1.2 million in new financing. The additional cash flow will be used to bulk up a few areas of the business: Snag-A-Slip plans on overhauling its online and mobile app, beef up its team with 30 new employees and add hundreds more marinas to its network. The company has also already hired a new chief operating officer.

Snag-A-Slip allows boaters to sort through 350 marinas in Canada, the U.S and Caribbean, and reserve slips online or through the mobile app. Boaters can use Snag-A-Slip for free, and marinas are charged a fee when someone makes a reservation through the platform. The company estimates it has about 80,000 users.

Snag-A-Slip is a Baltimore-based company that was started in 2015. By the end of the year, it hopes to increase the number of slips in its network to 550. Snag-A-Slip competes with other growing boating apps such as Dockwa and SlipFinder.

To learn more, visit snagaslip.com.

McGard