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.