Welcome to the first of a new feature we’re calling SBJ Tech Funding Round(up).
At the end of every fiscal quarter, I'll look back at the funding rounds by sports tech startups, ranging from those we cover regularly at SBJ Tech to new players. You’ll see potential trends we're noticing or any investment firms that were particularly active during the three-month windows.
Let’s get to it. Here’s a breakdown of Q1 2024.
The big takeaway? Making the fan experience more playable
Nearly a third of investments this past quarter brought a gamified element to a fan’s consumption of their favorite sport.
VR sports gaming company StatusPro scooped up a $20-million investment led by Google Ventures. StatusPro, which unveiled NFL Pro Era II late last year, was a finalist for Best in Extended Reality for the SBA: Tech awards. Its funding announcement dovetailed with StatusPro’s selection as one of five companies for the Disney Accelerator 2024 class a few weeks later.
In the betting sector, Splash earned $14.1 million in what it called a Series A2 funding round. It found 2023 success by rolling out a peer-to-peer competitive sports gaming platform called Splash Sports. In a similar realm, sports e-commerce betting platform Winible garnered $6 million in new funding, while Basketball Forever grabbed $4 million after its game’s debut in North America around the NBA All-Star Game.
WIT, a digital activation company that helps teams with fan data acquisition through gamified experiences, secured an investment ranging between $5 million and $15 million as part of McCarthy Capital’s emerging growth strategy.
For all other funding rounds from Q1, you can check out our stories below (presented in chronological order).
Want to put a funding round on our radar? Send me a note.
