Sportradar, a leading provider of sports data technology and global services has announced a secured new funding round and strategic partnership led by Revolution Growth.
Joining the newly formed advisory board will be Ted Leonsis, co-founder of Revolution Growth, and owner of the Washington Wizards (NBA), Capitals (NHL) and Mystics (WNBA) along with his partner Evan Morgan. Dallas Mavericks (NBA) owner and investor Mark Cuban as well as Charlotte Hornets Owner Michael Jordan will also join in on the first round of funding and be a part of the new Sportradar U.S Board.
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“We believe our new US advisory board – built around Ted, Mark and Michael – will make a significant impact that is felt across the industry” explains Ulrich Harmuth, Managing Director Corporate Strategy Sportradar AG and President Sportradar US. “With the insights and guidance of the newly formed advisory board, we now seek to build a new suite of value-enhancing products and applications with a focus on one-of-a-kind fan experiences – such as the NFL’s Next Gen Stats – and end-user customization capabilities.”
Sportradar is currently a global leader in utilizing, analyzing, and distributing sports data for client companies. It covers more than 325,000 live events across 48 sports, employs more than 1,000 developers and sports professionals across 30 locations, and has more than 65 federation partnerships worldwide.
After entering the U.S market in 2013, Sportradar is one of the fastest-growing sports data providers in North America. Its ability to understand and distribute data makes it easy for other companies, such as Yahoo Sports, Turner Media, and Samsung to develop innovative applications and use analytics to power their content. Its current partnerships include deals with NASCAR, NFL, NHL, and now Revolution Growth, which not only reflects Sportradar’s massive advancement but also its ability to succeed across cross-cultural platforms and companies of different make-ups.
Backed by the funding of Revolution Growth and other big time investors, Sportradar will now try to capitalize on its ability to use data and build an array of value-enhancing products and applications made for clients and companies involved in technology, fantasy sports, media, programing, and gaming.
In today’s day and age, fans are not only concerned about post-game analytics, but are also more aware and interested in pre-game data. With the fantasy sports market booming, there is no doubt that sports fans all over the world have realized how quantifiable sports really are and how powerful metrics and analytics can be to gain insights into a game or athlete.
“Fans have become more and more sophisticated and demanding when it comes to Sports data” added Harmuth. “While a few years ago, data was mainly provided as post-match statistics, sports fans are now increasingly focused on pre-game predictive analytics and in-game customized statistics that enhance the sports experience. With our company’s background of providing in-play statistics to gaming companies, we put our highest focus on accuracy real-time data (less than 1 sec delay) – which are crucial parameters to serving such new client demands.”
Success in the US has not come easy to Sportradar, but the company has picked up strong momentum in the past year.
“The biggest challenge was introducing a new brand into a market with an established leader,” remarked Harmuth. “We feel that such burden has been removed over the past year by winning three significant league relationships and a roster of enterprise customers that include Google, Yahoo Sports, Turner Media and Samsung among others”.
In five years, Sportradar will seek to establish itself as the preeminent source for sports data services and products across the globe. Sportradar’s passion, in addition to the sports and media expertise of Revolution Growth, will be pivotal in allowing Sportradar to reach its fullest potential and ultimately change the way fans view sports.