Ragnar Case Study

Ragnar Events operates relay running races throughout the country. Teams of twelve gather to conquer the course, typically covering over 175 miles. Each team member runs three approximately 5 miles across beautiful back country roads. Ragnar Events is now the largest race series of its kind.

Dolphin Capital invested in Ragnar Events in 2006, when it operated just one relay. The initial race, the Wasatch Back, was in its third year and attracted approximately 180 teams. Given that Dolphin Capital was excited about the opportunities that the concept provided and was attracted to the passion of the two young founders, it invested in the company to support and fund its growth.

The company worked closely with Dolphin as it embarked on defining its brand and rolling out new races across the country. Since Dolphin's investment, the company has tripled the size of the initial race and added thirteen new relays across the country. In 2012, over 30,000 individuals will participate in Ragnar Events across the country.

In 2010, the company raised an additional round of financing from Dolphin to fund its expansion plans. Ragnar Events is stamping out its concept across the country and plans to continue rolling out additional races across the country.