Scorecard: The Latest Funding and Acquisition Deals in the Sports Industry (April 2023 Edition)
Updated: May 4
Welcome to ScoreCard, your monthly dose of the latest and greatest happenings in the dynamic world of sports and sports technology! In a rapidly evolving landscape, we understand the importance of staying informed and ahead of the curve. That's why we've created ScoreCard by SportsFirst to bring you a comprehensive roundup of the most exciting sports deals, startup funding alerts, mergers, acquisitions, and emerging technologies in the industry.
Every month, our dedicated team of experts curate the top stories and trends from the world of sports and sports tech, ensuring that you never miss a beat. From the latest mega-mergers to innovative startups shaking up the industry, we've got you covered. We dive deep into the world of sports to bring you exclusive insights, expert analysis, and thought-provoking commentary on the hottest topics.
ScoreCard is more than just a newsletter; it's a community of like-minded enthusiasts, professionals, and visionaries passionate about the future of sports and sports technology. Our mission is to keep you informed, inspired, and engaged as we explore the cutting-edge developments that are reshaping the way we play, compete, and experience the thrill of sports.
Welcome aboard, and let the games begin! 🏆
Teamworks Series E funding:
🤝 Teamworks: Fueled by General Atlantic's recent $65 million series E funding round, sports tech company Teamworks plans to accelerate the development of its platform and expand its global reach. The company has also acquired ARMS Software, which provides scheduling and communication software for college athletic departments. The acquisition will allow Teamworks to offer a more comprehensive solution to its customers and strengthen its position as a leading player in the sports tech industry.
WagerLab raises Capital:
📱 WagerLab: Boston-based startup WagerLab has developed a mobile app for sports betting with a social twist. The app allows users to create their own custom bets and invite friends to join in, making sports betting a more social and interactive experience. WagerLab has raised $1.5 million in seed funding to date and is focused on expanding its user base and adding new features to the app. WagerLab's mission is to make sports betting more accessible and enjoyable for everyone while promoting responsible gambling practices.
Nazara Technologies Acquires 51% Branded:
🌍 Nazara Technologies' subsidiary, NODWIN Gaming: This company plans to acquire a 51% stake in a Singapore-based live events company, Branded, as part of its strategy to expand its footprint in the esports and gaming industry, particularly in the Southeast Asian market. Branded has a strong presence in the region, having organized some of the biggest gaming events and conferences in Asia. The acquisition is expected to strengthen NODWIN Gaming's capabilities in organizing and executing large-scale esports events, and open up new revenue streams for the company.
Enatin Group acquires 365 scores:
💰 Entain: This global sports betting and gaming company acquired 365Scores, a sports media and technology company, for $150 million. The acquisition is part of Entain's strategy to enhance its digital capabilities and expand its reach in the sports betting market. 365Scores offers a popular sports app that provides users with real-time scores, news, and other content related to various sports leagues around the world. The acquisition will allow Entain to integrate 365Scores' technology and content into its existing platform and offer a more comprehensive and personalized sports betting experience to its customers.
Yahoo Sports acquires Wagr:
📱 Yahoo Sports: This sports news and media platform owned by Apollo Global Management acquired Wagr, a sports betting app, for an undisclosed amount. The acquisition is part of Yahoo Sports' strategy to expand its offerings in the sports betting market and enhance its engagement with sports fans. Wagr offers a social sports betting app that allows users to make bets with friends on various sports events. The acquisition will allow Yahoo Sports to integrate Wagr's technology and capabilities into its platform and offer a more engaging and personalized sports betting experience to its users.
Sportskeeda ventures in to American Football:
📈 Sportskeeda: This Indian sports media platform acquired a majority stake in Pro Football Network (PFN), a US-based sports media company focused on American football, for $1.8 million. The acquisition is part of Sportskeeda's strategy to expand its global reach and enhance its coverage of American football. PFN offers a range of content related to the National Football League (NFL) and college football, including news, analysis, and live scores. The acquisition will allow Sportskeeda to leverage PFN's expertise and content and offer a more
MPL backed Mayhem Studio raises from Sequoia:
🎲 Indian gaming company MPL's game development unit, Mayhem Studios, raised $20 million in a funding round led by Sequoia Capital India and Truecaller co-founder Alan Mamedi. The funding will be used to expand the studio's game development capabilities and create more immersive gaming experiences for MPL's users. Mayhem Studios has already developed several successful games for MPL, including popular titles like WCC Rivals and Rogue Heist.
Merger of WWE And UFC:
🥊The merger between WWE (World Wrestling Entertainment) and UFC (Ultimate Fighting Championship) operator, Endeavor Group Holdings, has created a new sports entertainment giant. The merger combines WWE's expertise in professional wrestling, Endeavor's experience in sports management and production, as well as UFC's global fan base and media distribution channels. This move is expected to create new opportunities for revenue growth and expand the companies' reach in the sports entertainment industry. The article notes that the merger comes at a time when traditional sports leagues are facing increasing competition from alternative forms of entertainment, such as esports and gaming.
Buzzer Media funding alert:
📺 Sports streaming startup Buzzer Media has raised $20 million in a funding round led by RRE Ventures and is in talks with several major sports leagues, including the NBA and NFL, for potential partnerships. The New York-based company offers a personalized sports streaming service that allows users to follow specific sports events and teams in real-time. Buzzer Media plans to use the funding to expand its platform and enter into partnerships with major sports leagues and media companies. The startup aims to differentiate itself from traditional sports broadcasting by offering a more customized and interactive experience for sports fans
IMG Academy acquistion by Silver Lake Partners:
📝 Endeavor Sells IMG Academy for $1.2 Billion: Global entertainment and sports company Endeavor Group Holdings has sold its sports training and educational institution, IMG Academy, for $1.2 billion to a consortium of investors led by Silver Lake Partners and William Morris Endeavor. The sale is part of Endeavor's strategy to streamline its operations and focus on its core business of talent representation and media production. The sale is also expected to provide Endeavor with additional capital to invest in its existing businesses and pursue new growth opportunities.
Springbok Analytics coaching platform with AI:
📈 Sports technology startup, Springbok Analytics, has developed a software platform that uses artificial intelligence and machine learning to analyze and optimize sports team performance. The platform, called Springbok AI, provides real-time insights and recommendations to coaches and trainers, helping them make informed decisions about training, tactics, and player selection. Springbok AI has been tested with professional sports teams, including MLB and NBA teams, and has been well-received. The use of artificial intelligence and machine learning in sports analytics is a growing trend, with more teams and organizations investing in these technologies to gain a competitive edge. Springbok Analytics is well-positioned to capitalize on this trend and provide innovative solutions to sports teams looking to optimize their performance.
Blacktop Hoops VR product:
📰 Blacktop Hoops, a virtual reality (VR) game developer, has raised $5.1 million in a seed funding round led by Makers Fund. The funding will be used to further develop their VR basketball game, which provides players with a highly immersive and realistic basketball experience. The game uses advanced motion tracking and haptic feedback technology to allow players to compete in one-on-one games, three-on-three matches, and other competitive formats. Blacktop Hoops is well-positioned to capitalize on the growing VR gaming industry and offer a unique and engaging VR experience for basketball fans
Cards52 raises funding:
🃏 Ayron Tech, an Indian gaming company, has raised undisclosed funds for their upcoming online real money gaming platform, Cards52. The platform will offer a variety of card games and other gaming options, operating on a subscription-based model that allows users to play for real money. With the online gaming market in India on the rise, Ayron Tech aims to offer a unique and engaging gaming experience for its users, while navigating regulatory challenges.
As the sports industry continues to grow and evolve, we can expect to see even more exciting funding and acquisition deals in the future. These deals will not only shape the landscape of the industry, but also provide opportunities for new players to enter the market and for existing players to expand their reach. Whether it's through new technologies, innovative partnerships, or strategic acquisitions, the sports industry is sure to remain a hotbed of activity for years to come. So stay tuned for more updates and insights on the latest developments in this fast-paced and exciting field.
ScoreCard is for every Sports enthusiast. So, whether you're an athlete, a fan, an investor, or an entrepreneur in the sports and sports tech realm, ScoreCard is the perfect companion for staying up-to-date and inspired. Gear up for an exciting journey, as we embark on this adventure to stay ahead in the game!