RunSignup Raises $2.6 Million from Payroc for Strategic Initiatives
We are pleased to announce that an investment affiliate of Payroc is making a minority investment in the RunSignup | GiveSignup business to help fund the continued rapid expansion of the RunSignup customer base and provide additional fundraising capabilities to the nonprofit market with GiveSignup.
What does that mean? Simply put, it means additional resources for us to invest in technology development and customer education to keep up with our increased flow of customers. Payroc will own less than 10% of shares in the company, with the remainder still owned by employees. As we on-board an growing number of customers and continue to build the GiveSignup platform, the investment ensures that we maintain our rapid rate of technology development for the RunSignup product. Bob Bickel remains the CEO, and your customer support channels will not change.
In addition to the investment, Payroc will become a preferred payment processing platform, processing many of our transactions starting in April. There will be no impact on pricing or functionality for customers due to this change.
Are You Ready for Turkey Trot Season?
Thanksgiving has evolved as the largest single running day in the United States, with well over a million participants in Turkey Trots across the country – in 2019, RunSignup alone hosted 488 individual Thanksgiving Day races with more than half a million participants.
While COVID-19 has impacted “business-as-usual” in the industry, tradition and strong community ties mean that Turkey Trots aren’t going anywhere. Virtual Turkey Trots and Hybrid events (with both in-person and virtual options) are going live around the country. Gain inspiration from their example, and then check out our guide to get started with contingency planning and logistics, ensuring that your event is prepared for every scenario this fall.
Whether your locale is open to modified in-person events or you’re sticking to the certainty of a Virtual Race, we have some talkSIGNUP videos to help. For in-person events, tips for communicating with your local government and health safety officials from Todd Henderlong of T&H Timing. For virtual races and challenges (including hybrid events with in-person and virtual options), we have best pratices to improve your virtual event, making it more interactive and social.
We usually do a Race Registration Market Analysis twice a year to build an understanding of trends in the industry. While this report looks a little different due to the lingering impacts of COVID-19, it still offers insight into the state of the market. Spoiler: creative race directors and timers are keeping the industry afloat, but we expect to see long-term impacts on smaller registration vendors.
Why are we expanding our technology for nonprofits with GiveSignup? Similar to the origin of RunSignup, we are entering the nonprofit market because we see a void of good technology and a need for purpose-built, cost-effective, self-managed solutions.
Our August breakdown revealed the continued impact of COVID-19, but also showed indications of recovery. While our transaction volume was down 23% (compared to 27% in July), our donation volume was up 63% and we saw an increase in new races and new payment accounts.
Get Started with RunSignup
New to RunSignup? Start with the “Get Started” Hub for key recorded webinars, marketing basics, virtual tips, and fundraising best practices. Also coming up: a RunSignup 101 Webinar on 10/7/20.
Corral Management System Updates
GiveSignup Fall Webinar Series
Trying to get your head around the possibilities of GiveSignup? Join the GiveSignup team for October Webinars on Donation Forms and Hybrid Ticket Events.
Simplified Menu System
After 10+ years of new features and development, our dashboard menus have gotten pretty lengthy. Users can now opt to display a simplified (but expandable) menu.
Virtual Race Insurance Program Through Strategic Risk
Guest poster Scott Sutter explains the virtual race liability insurance available through Strategic Risk, with the usage of RaceJoy.