ScoreStream, a San Diego developer of crowdsourced high school sports content, has closed on a $2 million seed round of venture capital financing that includes Sinclair Broadcast Group and Sagamore Ventures, the investment arm of Under Armour founder and CEO Kevin Plank.
ScoreStream uses individual fans to supply real-time high school sports scores, similar to how Waze crowdsources its navigation and traffic information. The company employs a ranking system, somewhat like eBay or the Amazon Marketplace, to rate users and help ensure reliable data.
Gannett and Fox Sports have already aligned formally with ScoreStream, and the funding round is designed in part to fund an expansion of the platform into other content areas such as photos and social media.
“We think there’s a big opportunity for us to be the social network that gravitates around high school sports,” said Derrick Oien, ScoreStream chief executive. “Scores are the base of good content, and there are many interesting directions we’re looking to take this.”
ScoreStream’s president and chief operating officer, John Smelzer, has held roles with Yahoo, Fox Sports and the NFL.
Sinclair Broadcast Group has created a new Seattle-based division called Sinclair Digital Ventures to invest in early-stage technology and digital media companies, with a particular focus on companies such as ScoreStream that are also partners or clients of Sinclair Broadcast. Sinclair Digital Ventures led the ScoreStream funding round.
The ScoreStream funding continues a rising level of interest among venture capital groups in digital sports entities, particularly ones that serve the scholastic level. Nebraska-based Hudl last week announced a $72.5 million round of funding led by Accel Partners and student loan provider Nelnet.
