The Baltimore startup Snag-A-Slip has raised $4.8 million to develop new product features and to step up its marketing and sales. They are an online boat slip reservation company and many companies participated in the contribution including Claritas Capital, TCP Venture Capital, Abell Foundation and others.

Snag-A-Slip is a two year old company that works with 500 marinas from Canada to the Caribean. They started in Annapolis in 2015 and they connect boaters with the slips that are available for them through their website and their mobile app.

One of the most appealing things about the company is that they don’t make their money by charging boaters but by charging fees to marinas.

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