Snag-A-Slip Secures $4.8 Million in Series A Funding Led by Claritas Capital

Snag-A-Slip is the Fastest and Easiest Way to Explore Marinas and
Rent Boat Slips Online

BALTIMORE–(BUSINESS WIRE)–#fundingSnag-A-Slip,
an online boat slip reservation company, today announced that it has
closed a $4.8 Million Series A financing round led by Claritas Capital.
Also participating in the round were TCP Venture Capital, through the
Propel Baltimore Fund; Jerry South, Founder and Chairman of Towne Park
and the Abell Foundation. Since launching in 2015, Snag-A-Slip has grown
its network to include more than 500 marinas from Canada to the
Caribbean, and recently launched a new website, mobile apps and a
rewards program for boaters. Snag-A-Slip’s sister company, Oasis
Marinas, offers services from consulting to full marina management,
leveraging a well-trained local workforce with a commitment to
exceptional customer service. Oasis currently operates six marinas in
the Mid-Atlantic area. The Series A funding will allow the company to
significantly expand sales and marketing efforts, develop new product
features and broaden operations.

“We are excited to support the Snag-A-Slip team in their expansion
goals,” said Theresa Sexton, Partner, Claritas Capital. “It’s clear the
company has deep expertise in the maritime, hospitality and technology
industries, and that they have developed a product that boaters enjoy.
We feel the model is strong and the industry is ready to embrace new
technology.”

Initially, Snag-A-Slip exploded in the Chesapeake Bay with a mission to
encourage boaters to explore the waterways and visit new marinas. Since
then, it has steadily grown its network and now serves boaters across
the U.S. and internationally. Taking cues from the hospitality industry,
Snag-A-Slip aims to showcase its marina partners and connect transient
boaters with available slips more easily. Website and mobile app users
can explore marinas by region, city or marina name and then search for
slip availability based on travel dates, length, beam, draw and power
requirements. There are no booking fees associated with the service, and
the company recently rolled out its Dozen Dock ChallengeTM,
where boaters can earn one free night for every 12 stays.

“Snag-A-Slip is experiencing amazing momentum,” said Dan Cowens,
Founder, Snag-A-Slip. “We are humbled by the vote of confidence we’ve
received from our highly supportive investors, and we look forward to a
bright future as we expand our reach, support our partners and inspire
our boaters.”

About Snag-A-Slip

Snag-A-Slip is a Baltimore-based company that connects boaters with
available slips, while also showcasing marinas via digital channels in
the same way that hotels are promoted digitally. The mobile-responsive
website and mobile apps allow boaters to explore marinas by region, city
or marina name and then search for slip availability based on travel
dates, length, beam, draw and power requirements. Boaters can pick their
preferred marina based on amenities, location and availability and book
immediately with any credit card. There are no booking fees associated
with the service, which is now available from Canada through the
Caribbean. Snag-A-Slip mobile apps are now available for free download
on the App Store and Google Play.

About Oasis Marinas

Oasis Marinas is a privately held marina management company based out of
Baltimore, MD. The company provides marina management services to marina
owners that support all aspects of the marina, including boat slips,
provisions, fuel docks and the associated contracts with the vendors
running the maintenance services, restaurants, and other business
services.

About Claritas Capital

Claritas Capital, a Nashville-based private equity firm, is an active
investor in technology, health care, business services, and real estate.
The investment partners support high quality management teams by
providing minority capital for growth and expansion. The firm has made
equity investments in over 50 companies that have collectively raised an
excess of $6 billion of financing.

Contacts

Snag-A-Slip
Paige Holden, VP of Marketing
Cell:
201-388-1074

paige@snagaslip.com