The Philadelphia Phillies are suing the failed West Chester startup LifeBrand, its former corporate sponsor, for allegedly failing to pay for the final year of its marketing deal with the team, writes John George for the Philadelphia Business Journal.
In the lawsuit, filed at the Chester County Court of Common Pleas in West Chester on Oct. 22, the team is seeking $890,000 plus interest and court costs.
Thomas J. Colaiezzi, the former CEO of the now defunct company, confirmed the team’s claims.
“That’s accurate,” he said. “We had a partnership with the Phillies for three years and, unfortunately, the third year was when there was the Silicon Valley Bank collapse and we were never able to complete our Series B round.”
LifeBrand managed to secure $27 million in Series A funding, which closed in January 2022. At its peak, the brand management and digital reputation services company that helped manage social media presence and personal branding for individuals and organizations had 30 employees.
The company was liquidated in August after it failed to secure any additional funding.
Read more about the Philadelphia Phillies lawsuit with the startup in the Philadelphia Business Journal.
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