RunSignup’s 2024 midyear trends show increases in per-race participation – and pricing
Early 2024 data shows growth in race participation, increases in race prices, and younger runners slowly returning to races.
15 August 2024
RunSignup will use the capital to grow its customer onboarding team and invest in customer education.
RunSignup, Inc. is pleased to announce that an investment affiliate of Payroc will become a minority investor and the Company will begin using Payroc as a preferred payment processing platform.
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.
RunSignup has seen unparalleled opportunity amidst the pandemic and sought additional working capital to provide flexibility to invest in the business while others are retrenching. RunSignup will use the capital to grow the customer onboarding team and invest in customer education given the increased flow of new customers the Company is experiencing for both endurance and nonprofits. Additionally, the Company will fully fund incremental development projects in GiveSignup to provide nonprofits with the technology solutions they need to raise more money during these difficult times.
RunSignup is also working toward supporting multiple payment processing platforms offering high reliability and leveraging their unique payment facilitator platform. Customers have come to rely on RunSignup as a secure platform with fast payment processing and innovative features like fully integrated and reliable financial reporting, low cost donation processing fees, free refunds, referral rewards, and multi-race registration. With the planned expansion of payment processing technology, RunSignup will be able to keep costs low for customers and provide new features and capabilities.
“Payroc has been extraordinarily supportive of our business, including offering to invest towards our goal of helping our customers raise $1 Billion per year for their event and charitable missions,” said Bob Bickel, CEO and Founder of RunSignup. “Further, Payroc’s investment provides us with the capability to serve our endurance customers and expand our technology platform in the nonprofit space with GiveSignup”.
“RunSignup has built an impressive business based on the foundation of technology and openness in their customer relationships,” said Jim Oberman, CEO of Payroc. “We are confident in their plan to help their customers raise $1 Billion per year as a vision for how their technology company can help make a positive impact on the world. We are pleased to be a partner with them in a mutual quest to help the endurance and nonprofit communities they serve.”
RunSignup looks forward to partnering with Payroc to serve more customers, raise more money, provide more great technology and continue to expand our RunSignup | GiveSignup platform.
Payroc is a high-growth international merchant acquirer, payment facilitator, and processing powerhouse operating in 46 countries, and processing over $29 billion in annualized volume for more than 66,000 merchants. Payroc offers best-in-class sales enablement and merchant processing technology, delivering proprietary, innovative and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc LLC, together with its wholly-owned affiliate Payroc Processing Systems, LLC, is a registered Visa third party processor (TPP), Mastercard third party servicer (TPSV), payment facilitator (payfac) and encryption support organization (ESO) for Fifth Third Bank, an Ohio-chartered bank, Cincinnati, Ohio (“Fifth Third”). Payroc LLC is a registered independent sales organization (ISO/MSP) for Fifth Third and Wells Fargo Bank, N.A., Concord, California (“Wells”). NXGEN, one of Payroc’s companies, is an Elavon payments partner and registered as an ISO/MSP of Elavon, Inc., Georgia, a wholly owned subsidiary of US Bank Minneapolis. The company’s Canadian business companies are registered ISO/MSP of Wells and Peoples Trust Company, Vancouver, Canada. For more information, please visit payroc.com.
RunSignup, an employee owned company, is the leading event solution delivering the art of technology to endurance events and nonprofits. More than 28,000 events use our free and open platform to register 9 million annual participants, raise more than $2.8 Billion and grow their events. Our expertly crafted, open and all-in-one solution powers event revenue generation and supporter engagement through flexible registration, free event websites, free email marketing, integrated fundraising, and a suite of RaceDay Real-Time products. No subscriptions, no plans, no monthly fees.
To find out why customers like the Richmond Marathon, American Cancer Society, Vacation Races, and RaceDay Events use RunSignup, visit www.runsignup.com.