Baltimore Funding Startups

Hotels.com For Boat Slips Raises $4.8 Million Dollars

snagaslip-top Hotels.com  For Boat Slips Raises $4.8 Million DollarsBaltimore Startup Snag A Slip Raises $4.8 Million Dollars

SnagASlip is a startup based in Annapolis Maryland, the state’s capital city. If Sailo is the AirBnB for boat rentals, SnagASlip is the hotels.com for marina and boat slip rentals.  The company says you can book a place to dock your boat “from Canada to the Caribbean” and anywhere in between.

The web platform has an aesthetically pleasing, easy to understand format.

Boat owners simply enter their destination, and the arrival and departure dates. Then they add a few pieces of data about their boat like length, beam, draft and engine type. After that they hit check availability and they’re off to the races.

SnagASlip returns beautiful picture filled pages about marinas and boat slips in the destination of the user’s choosing.

Each marina page within SnagASlip has all the pertinent info for the marina, what slips are available, what the rate is, and what resources are available to boat owners as they are docked at the marina. Each marina page also features nearby attractions and anything else you would need to visit a new marina.

Dan Cowens is the founder of SnagASlip. He was able to take his 20 years of experience in the valet parking industry and create a company to help boaters essentially find places to park their boats. In Maryland Cowens is surrounded by boating. Baltimore’s Inner Harbor, Annapolis, Edgewater, Kent Island and Ocean City Maryland are just some of the places that attract boats of varying sizes.

SnagASlip makes their money on the back-end by contracting with the marinas themselves. When a boater uses the startup to secure a mooring spot, the marina gives SnagASlip a cut of the booking. That’s why, to the customer, SnagASlip is completely free.

This model helps marinas fill up their unbooked inventory in a similar way to how Parking Panda, another Baltimore area startup, helps sell unused parking inventory.

After working hard on the concept, building the product and the user base over the last two years, the company reported this week that they have closed a $4.8 million dollar Series A round. They hope to use the new funding to market and develop new product features, the Baltimore Business Journal reported.

Claritas Capital led the round with participation from TCP Venture Capital, Towne Park Founder Jerry South and the Abell Foundation.

“We are excited to support the Snag-A-Slip team in their expansion goals,” Theresa Sexton, a partner at Claritas Capital, said in a statement. “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.”

Although the popular summer season is winding down they are already booking up slips well into next year. You can check out Snag A Slip here at snagaslip.com