Utrain, a Charlottesville company that offers an “all-in-one basketball training software solution” via an app, is seeking to raise $1 million in a pre-seed round on a $5 million valuation to fine-tune its product and grow its business, co-founder and CEO Daniel Ginsberg said.
The 2-year-old company is in the pre-revenue stage and has been bootstrapped so far by a group of five co-founders, Ginsberg said. The group has invested approximately $25,000 of its own funds into the app, which is available for iOS platforms through the Apple App Store.
“We have a couple of pieces that we’ve been talking to that also have previous investments in the sports industry and have some synergy there, which is exciting,” said Ginsberg. “But we are absolutely open to hearing from anyone that is interested as well.”
Utrain is seeking partners who have an affinity for hoops — with hopes that an NBA player would like to invest. Ginsberg said the plan is to keep the pre-seed efforts open for…
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