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Indy-based website for coaches scores key VC investment

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A web startup operating out of a SoBro club for entrepreneurs will expand its market and fuel development with $250,000 in venture capital funding it has secured from investors, the company announced Thursday.

BookIt Commerce Inc. secured the investments in December. It was the second round of funding for the 2-year-old business. BookIt raised the funding in part through Indianapolis-based Elevate Ventures, which helps connect emerging Indiana businesses with capital and expertise.

Bookit runs the website bookacoach.com, which connects athletes and teams with appropriate coaches. For example, coaches can create profiles as a way to market themselves to clients. The site conducts criminal background checks, and profits by collecting a share of the coaches' booking fees.

About 1,500 coaches use the website. The company would not disclose its revenue.

BookIt splits operations between Indianapolis and Washington, D.C., where it already has investors. But the company plans to make Indianapolis its official headquarters. Elevate Entrepreneur in Residence Kelly Schwedland has joined bookacoach's board of directors to help advise on growth strategy.

Previously, investors in Washington, D.C., and Greensboro, N.C., pumped $200,000 into BookIt, which was enough to set up bookacoach and launch in test markets. The funding also fueled development of a new version of the website, which launches Sunday.

The more recent, $250,000 infusion will let bookacoach add features and reach into new markets, said Myles Grote, who co-founded the business with Kevin MacCauley and Marcus Gross in 2011. Users are primarily in the Indiana and Washington, D.C., areas.

BookIt plans to keep its operations in The Speak Easy, a membership-based entrepreneurial club south of Broad Ripple at 5255 N. Winthrop Ave.  that bills itself as “a Moose Lodge for startups.” The firm might move later this year, once it begins hiring employees, Grote said.

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  1. OK Larry, let's sign Lance, shore up the PG and let's get to the finals.

  2. A couple of issues need some clarification especially since my name was on the list. I am not sure how this information was obtained and from where. For me, the amount was incorrect to begin with and the money does not come to me personally. I am guessing that the names listed are the Principal Investigators (individual responsible for the conduct of the trail) for the different pharmaceutical trials and not the entity which receives the checks. In my case, I participate in Phase II and Phase III trials which are required for new drug development. Your article should differentiate the amount of money received for consulting, for speaking fees, and for conduct of a clinical trial for new drug development. The lumping of all of these categories may give the reader a false impression of physicians just trying to get rich. The Sunshine Law may help to differentiate these categories in the future. The public should be aware that the Clinical Trial Industry could be a real economic driver for Indiana since these revenues supports jobs and new job creation. Nationally, this account for 10-20 billion which our State is missing out on to a large degree. Yes, new drug and technology development has gotten most of the attention (e.g. CTSI, BioCrossroads, etc.) However, serious money is being left on the table by not participating in the clinical trials to get those new drugs and medical devices on the market!!!! I guess that this is not sexy enough for academia.

  3. The address given for the Goldfish Swim Club is the Ace Hardware, is it closing?

  4. Out of state management and ownership. If Kite controlled it, everything would be leased. Of course, due to the roundabout, there is limited access to the south side of 116th now also. Just have to go down to the light.

  5. Hey smudge, You're opposed to arresting people for minor crimes? Sounds great! We should only focus on murders and such, right? Let's stand around and wait until someone shoots someone before we act. Whatever we do, we should never question anyone, frisk anyone, or arrest anyone unless they are actively engaged in shooting or stabbing. Very sound!

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