Active Network Signs $80M Sixth Round Led By ESPN
The Active Network, "the big provider of sports-related technology, has just closed a huge, $80[M] sixth round led by ESPN," according to Joseph Weisenthal of PAIDCONTENT.org. Past supporters "participating in the round include Canaan Partners, North Bridge Venture Partners and Performance Equity Partners." The company, which "has raised $275[M] since 1999, will use the funding towards infrastructure and towards 'appropriate acquistions.'" Acquisitions are a "key part of its strategy: Since 2007, it has acquired 11 companies, including Hy-Tek Sports Software, LaxPower, Cool Running and Golfbuzz" (PAIDCONTENT.org, 8/27).
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