What Capstone Event Group does

Capstone Event Group, Inc. is a privately held event management company founded around 2013 by Charlie Mercer and headquartered in Raleigh, North Carolina. The company operates a portfolio of 16 premier running events—including marathons, half marathons, 10-milers, 10Ks, and 5Ks—across the East Coast and Southeast United States, reaching approximately 110,000 runners annually. Events span from South Carolina (Myrtle Beach Marathon, 25 years old; PNC Bank Charleston Half Marathon) to New York (Hamptons Marathon, Runner's World Top 10), with concentrated operations in North Carolina (City of Oaks Marathon in Raleigh, Bull City Race Fest in Durham, Tar Heel 10 Miler in Chapel Hill, Mountaineer 10 Miler in Boone, Pirate 10 Miler in Greenville). Several events have operated in their communities for a decade or more, providing deep local roots and recurring annual demand.

The company operates two primary revenue lines. Race registration revenue is generated through individual event websites built on the RaceReach registration platform, with individual registration fees typically ranging from $60-$120 per race. Corporate sponsorship packages are sold directly to brands including BCBSNC, Ford, Alaska Airlines, Clif Bar, AT&T, Vineyard Vines, PNC Bank, Martin Marietta, Delta Air Lines, and others, offering immersive brand integration throughout the runner journey from pre-race communications through post-event emails. In 2025, the company launched BibPass, a subscription program offering unlimited race registrations for $16.50/month or a 3-race bundle for $149, creating a recurring revenue stream and behavioral switching costs for frequent runners. The customer base is split between health-conscious individual runners (ranging from first-timers to Boston-qualifying marathoners) and corporate sponsors seeking high-engagement brand activation; BCBSNC reports 69% higher consumer engagement at Capstone events than at its NASCAR activations. Technology infrastructure is built on third-party platforms (RaceReach, Google Analytics) with no proprietary AI or data layer. The company employs 11-50 people across a lean leadership team (CEO Charlie Mercer, President Blake Shelton, two Directors, and operations/business development/marketing functions) and has raised approximately $2.56M in a single 2019 funding round from undisclosed investors.

Name

Capstone Event Group

Legal name

Capstone Event Group, Inc.

Website

https://capstoneraces.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Capstone Event Group operates a portfolio of 16 premier running events—marathons, half marathons, and shorter races—across the US East Coast, serving approximately 110,000 runners annually and selling corporate sponsorships to brands such as BCBSNC, Ford, and Alaska Airlines, with a 2025-launched BibPass subscription for recurring race registration.

Ownership category

akta.pro rank

Product category

Race and Marathon Event Management

NAICS

Spectator Sports (71121), Other Spectator Sports (711219), Promoters of Performing Arts, Sports, and Similar Events with Facilities (711310)

SIC

Services-Racing, Including Track Operation (7948), Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Mass Participation Race Organizers (Runs, Triathlons, Cycling) (MPAKADAD)

akta.pro secondary industry

Road Running Events (Marathons, Half Marathons, 10K/5K) (MPAKAIAA)

Keywords

• Marathon event management
• Race organization services
• Running event sponsorship
• Race registration platform
• Endurance sports marketing

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Race Registration Fees: Individual race registration fees ranging typically from $60-$120 per race, covering marathon, half marathon, 10-miler, 10K, and 5K distances across their event portfolio.
2. BibPass Subscription: Monthly subscription at $16.50 per month providing unlimited race registrations across all Capstone events. One-time bundle option at $149 for 3 races. Creates recurring revenue from active runners who participate in multiple events annually.
3. Sponsorship and Brand Partnerships: Corporate sponsors pay for brand exposure and integration into the runner experience. Sponsors receive pre-race communications, restaurant suggestions, race day giveaways, and post-event email touchpoints. BCBSNC testimonial indicates 'highest consumer engagement ratio of all onsite events' with 69% higher engagement than NASCAR activations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Capstone Event Group operates and manages a portfolio of 16 branded running events — including marathons, half marathons, 10-milers, 5Ks, and relay races — hosted across the US East Coast (NC, SC, NY, FL, WV). The company sells individual race registrations and BibPass subscriptions directly to consumer-runners, and sells corporate sponsorship packages offering brand activation and consumer engagement touchpoints throughout the runner journey.

Product overview

Capstone Event Group operates a portfolio of 16 premier running and marathon events across the East Coast of the United States, serving approximately 110,000 runners annually. The company's core product is its collection of branded race events spanning marathons, half marathons, 10-milers, 5Ks, and specialty distances across multiple states. BibPass is the company's subscription program offering unlimited race registrations for a monthly fee. The individual race events include the Martin Marietta City of Oaks Marathon in Raleigh, Myrtle Beach Marathon, Charleston Half Marathon, Tar Heel 10 Miler, Greenbrier Half Marathon, Mountaineer 10 Miler, Hamptons Marathon, Amelia Island Half Marathon, Bull City Race Fest, and Pirate 10 Miler. The portfolio also includes the Race 13.1 series (now concluded) and the BibPass subscription service for race registration.

Differentiator

Problem solved

Functional benefit

Products and services

• BibPass Race registration subscription program offering unlimited race registrations across Capstone's portfolio of 11+ BibPass-eligible events for a monthly fee or 3-race bundle one-time purchase, with no deferral deadlines and a first-race-guarantee refund option. For individual runners and frequent multi-event participants.
• Martin Marietta City of Oaks Marathon Annual marathon, half marathon, 10K, and 5K race in Raleigh, North Carolina held in November. Drawing approximately 6,000 runners, it is Capstone's flagship event and the company's longest-running race property.
• Myrtle Beach Marathon Marathon, half marathon, and 5K race in Myrtle Beach, South Carolina held in March, featuring an Elite Invitational competition for prize money. Voted Best Marathon in South Carolina by Find My Marathon.
• PNC Bank Charleston Half Marathon Annual half marathon and 5K race held in Charleston, South Carolina in January, featuring a Youth Marathon option. Title-sponsored by PNC Bank.
• Tar Heel 10 Miler Annual 10-mile and 4-mile race tradition in Chapel Hill, North Carolina held in April, part of the Run the Triangle series. Includes co-branded Fleet Feet 4 Miler distance.
• Greenbrier Half Marathon Half marathon, 10K, and 5K race at The Greenbrier resort in White Sulphur Springs, West Virginia held in May, featuring a champagne brunch post-race.
• Hamptons Marathon Marathon, half marathon, and 5K race held in Southampton, New York in September. Recognized as one of Runner's World's Top 10 Races to Run.
• Amelia Island Half Marathon Half marathon, 12K, and 5K race in Fernandina Beach, Florida held in October, featuring the Seaside Challenge for completing multiple distances.
• Bull City Race Fest Half marathon and 5K race in Durham, North Carolina held in October, featuring the Delta Air Lines Team Challenge. Capstone's 10-year-old community event.
• Mountaineer 10 Miler Annual 10-mile race in Boone, North Carolina held in June.
• Pirate 10 Miler Annual 10-mile race in Greenville, North Carolina.
• Race 13.1 Series Premier half marathon race series featuring holiday-themed events offering half marathon, 10K, and 5K distances with worry-free registration. Race 13.1 Durham concluded after many years.

Quantifiable outcome

• 69% higher consumer engagement ratio than NASCAR race activation for BCBSNC sponsorship
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

24 partnerships are on record, tiered major, core and minor.

• FordmajorGTM or Marketing PartnerMajor corporate sponsor with brand integration across Capstone events. Featured in sponsorship carousel showcasing sponsor moments throughout the runner experience.
• Alaska AirlinesmajorGTM or Marketing PartnerFeatured sponsor with brand presence at finish line moments. 'The moment you cross the finish line' messaging suggests primary finish line sponsorship.
• Clif BarmajorGTM or Marketing PartnerEndurance nutrition sponsor integrated into race experiences with 'The moment you push through' positioning.
• Blue Cross Blue Shield of North Carolina (BCBSNC)coreGTM or Marketing PartnerPrimary health insurance sponsor with testimonial citing highest consumer engagement ratios of all onsite events. 69% higher engagement than NASCAR activations. Multiple BCBSNC-sponsored events including Blue Cross NC Race 13.1 series.
• Vineyard VinesmajorGTM or Marketing PartnerResort race partner with brand alignment around lifestyle and active living. Testimonial states Capstone puts on 'best in class events' with 'industry elite' execution across all touchpoints.
• AT&TmajorGTM or Marketing PartnerCorporate sponsor receiving professionally organized events with exceptional customer service throughout race weekends.
• Delta Air LinesmajorGTM or Marketing PartnerDelta Air Lines Team Challenge sponsor at Bull City Race Fest, creating a team competition element with scoring and team management features.
• AKC Canine Health FoundationcoreGTM or Marketing PartnerOfficial charity beneficiary of Tar Heel 10 Miler, with fundraising teams and charity bib programs supporting canine health causes.
• Duke Cancer InstitutecoreGTM or Marketing PartnerCharity beneficiary for Bull City Race Fest, supporting cancer research and treatment programs through race fundraising.
• Engaging Creative MindscoreGTM or Marketing PartnerRace beneficiary for Charleston Half Marathon, supporting creative education programs in Charleston schools.
• Martin MariettacoreGTM or Marketing PartnerTitle sponsor of Martin Marietta City of Oaks Marathon. S&P 500 building materials supplier with network spanning 28 states, Canada, and Bahamas.
• North Carolina Museum of Natural SciencescoreGTM or Marketing PartnerCommunity partner for City of Oaks Marathon. Museum serves over 1 million people annually and benefits from event support.
• NetflixminorGTM or Marketing PartnerBrand sponsor with logo featured in sponsor carousel, representing media/entertainment sector sponsorship.
• United AirlinesminorGTM or Marketing PartnerBrand sponsor featured in sponsor carousel, supporting runner travel to events.
• Michelob UltramajorGTM or Marketing PartnerActive lifestyle beer brand sponsor targeting post-race celebrations and health-conscious consumers.
• Coca-ColaminorGTM or Marketing PartnerBeverage sponsor with brand presence across event portfolio.
• Peet's CoffeeminorGTM or Marketing PartnerCoffee sponsor supporting runner energy and pre-race caffeine needs.
• Merrill LynchminorGTM or Marketing PartnerFinancial services sponsor with brand presence in sponsor carousel.
• GeicominorGTM or Marketing PartnerInsurance sponsor with brand presence in sponsor carousel.
• Fleet FeetmajorGTM or Marketing PartnerRunning specialty retailer and official sponsor for multiple events including Tar Heel 10 Miler (Fleet Feet 4 Miler), Bull City Race Fest, and Charleston Half Marathon. Co-branded race distances.
• First Horizon BankminorGTM or Marketing PartnerRegional bank sponsor for Bull City Race Fest and City of Oaks Marathon.
• PNC BankcoreGTM or Marketing PartnerTitle sponsor of PNC Bank Charleston Half Marathon. Major regional bank with title sponsorship rights.
• Sutter HealthminorGTM or Marketing PartnerHealthcare system sponsor with brand presence in sponsor carousel.
• CalivaminorGTM or Marketing PartnerBrand sponsor with 'The moment you celebrate' positioning in sponsorship materials.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• The IRONMAN Group: Owns and operates the Rock 'n' Roll Marathon Series and other mass-participation endurance events globally. Directly comparable as a large-scale operator of branded marathon and running event portfolios serving similar consumer and sponsor segments.
• Competitor Group: Operates mass-participation running events including the Rock 'n' Roll Marathon Series (acquired from Competitor). Closely comparable portfolio business model focused on branded endurance races with sponsor-integrated runner experiences.
• Destination Races: Operates wine-and-destination themed marathon and half marathon events in resort locations. Directly comparable niche operator of resort-style running events with similar sponsor and experiential positioning to Capstone's Greenbrier and Hamptons events.
• New York Road Runners: Nonprofit operator of the TCS New York City Marathon and dozens of weekly/community races. Directly comparable in running event portfolio scale and runner engagement, though operates a nonprofit model with different capital structure.
• Boston Athletic Association: Operates the Boston Marathon and supporting race calendar. Directly comparable as a long-tenured mass-participation marathon operator with deep community ties and major sponsor relationships.

Regional players

• Atlanta Track Club: Membership-based running organization operating the Atlanta Journal-Constitution Peachtree Road Race and other mass-participation Southeast events. Comparable regional mass-participation race operator with similar runner-segment focus but limited geographic overlap.

Emerging players

• Spartan Race: Operates obstacle course and endurance racing events globally. Comparable mass-participation endurance event operator, but focuses on obstacle/adventure formats rather than road marathons; overlapping consumer and sponsor segments.
• Tough Mudder: Operates obstacle course and challenge events targeting endurance and wellness consumers. Adjacent peer in the mass-participation endurance event space with similar brand-integration sponsorship model.

Others

• Running USA: Industry trade association for the US running industry providing research, education, and event operator resources. Comparable industry context but operates as a non-profit support body rather than a competing event operator.
• Race Roster: Event registration and management platform serving mass-participation race organizers. Adjacent technology enabler; Capstone currently uses RaceReach rather than Race Roster, but Race Roster represents the category of platform peer for race-tech infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Race13.1
• Instagraminstagram.com/resortraces
• Xx.com/race131

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capstone Event Group