Why NFX Invested in Rec: Modernizing Your Local Parks & Rec Experience
Summary
Rec launched out of stealth and raised $6.2 million in seed funding led by NFX with participation from several other venture firms. The company sells software that helps city Parks & Rec departments manage reservations, schedules, payments, and facility usage through mobile-friendly workflows and QR codes. Early customers already include multiple California cities, and the company claims the system can increase facility usage by 30% to 50%. The article also highlights the founders’ background and the network effects that could make the platform more valuable as more towns and users adopt it.
Funding
Amount
$6.2M
Total raised
Date
March 1, 2024
Announcement date
Investors
Springbank Collective, NFX Guild, Techcrunch, Precursor Ventures, Long Journey Ventures
Lead investors
Company
https://www.rec.us
Funded company
Classifications
industries
No industries detected
applications
No applications detected
AskAI Classifications
Labels
SaaS
Vertical Software
Government Software
Linked Companies
Rec Technologies, Inc.
up to $1M