Korrio Gets $3.3M Deal Led by Ignition

1/26/11Follow @xconomy

Seattle-based Korrio, the developer of online technology to help run youth sports leagues, is announcing today it has raised $3.3 million in a Series A investment led by Bellevue, WA-based Ignition Partners. Ignition’s John Connors led the round, and is taking a seat on the Korrio board. He was joined in the deal by Martin Coles, the former CEO of Reebok and an executive at Nike; and Sam Schmidt, the former Indy Racing League driver. Xconomy first had the news of Korrio’s financing in August, when the company reported the deal with the Securities and Exchange Commission. About 45 million kids play youth sports today, about quadruple the number from 20 years ago, creating a need for automated web services to help parents, administrators and coaches run the activities, Korrio said in a statement.

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