Sportradar raises $44 million for its expansion in the US

Sportradar today announced that it has secured new funding and a strategic partnership led by Revolution Growth. As part of the investment, Ted Leonsis, co-founder of Revolution Growth and owner of the Washington Capitals (NHL), Wizards (NBA) and Mystics (WNBA), will join the company’s U.S. Advisory Board with Revolution Growth partner Evan Morgan. According to Forbes Sportradar raised $44 million.

Sportradar is the global leader in providing sports data and content, employing more than 1,000 developers and sports specialists across 30 locations around the world. Its global headquarters is in St. Gallen, Switzerland, while the US operations are based in Minneapolis, San Francisco and New York City.

After entering the U.S. market in 2013, the company has established itself as the fastest-growing sports data provider in North America and has secured exclusive partnerships with the NFL, NASCAR and the NHL within the last nine months. The company will leverage the newly formed advisory board and capital to build a complementary suite of value-enhancing products and applications for its client base that includes leaders in technology, digital media, fantasy sports, social media and gaming.

“The Sportradar team is ahead of the curve in understanding the crucial role data plays in creating innovative content and products that captures audiences,” said Revolution Growth co-founder and partner Ted Leonsis. “With superior technology and development that is already providing the fastest, most accurate data feeds, Sportradar is well-poised to capitalize on the rapidly expanding, multi-billion dollar global sports market.”

“We look forward to partnering with the Revolution Growth team, and some of the best and brightest minds in technology and sports as we look to diversify and expand our product offerings,” said Carsten Koerl, founder and CEO of Sportradar. “Their intimate knowledge of the US sports and media market will help us to develop cutting-edge real time data products that will change how sports are consumed in the future.”

“Teaming up with Revolution Growth, Ted, Mark and Michael in the U.S. opens up new exciting opportunities for Sportradar. Revolution Growth’s expertise in the U.S. sports and digital media market, their long-standing relations with key market players as well as the newly appointed U.S. advisory board will help Sportradar in reaching its full potential in this exciting sports and media market,” said Dominik Stein, Partner at EQT Partners, Investment Advisor to EQT VI, an existing investor in Sportradar.

Carsten Koerl, who was one of the co-founders of bwin, founded Sportradar in 2007. The company with operations in several European countries has it’s headquarter in St. Gallen. An older but nevertheless interesting interview with Koerl can be found on the website of Swiss Television (in German).

(SK)