Read the pitch decks from sports and video game startups that helped raise milli...
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Read the pitch decks from sports and video game startups that helped raise millions of dollars
The evolution of tech and media is creating opportunities for innovation in sports.
Sports betting has also added new facets to the industry in the US.
Here are pitch decks 10 sports startups used to raise millions in Series A and Seed rounds.
The sports industry has exploded in recent years as technology and consumer habits change.
The expansion of legal sports betting in the US ushered in one of the biggest transformations. It's opened up a new market not only for sportsbooks like DraftKings, but for the ancillary businesses that support betting — be it platform providers, data companies, media partners, geolocation and compliance suppliers, or others.
Venture capital poured $334.5 million into the early-stage sports betting and gambling space last year, despite the current macroeconomic struggles, according to PitchBook. That's down from the previous year but more than the year before. And more opportunities for growth are expected in the next decade ahead as sports gambling expands into more states such as California.
In college sports, student-athletes are finally allowed to profit from their name, image, and likeness, after a 2021 rule change. Student-athletes have since become one of the most engaging influencer groups, earning anywhere from a few hundred dollars to six figures from brand deals. This has opened the opportunity for startups to build marketplaces or creator tools to help student-athlete creators.
Technology has also changed the way leagues and teams operate and how fans consume sports. Uplift Labs has partnered with leagues like the NBA for its technology that analyzes player movement through smartphone cameras.
Stadium Live, which has raised $13 million in funding since 2020, created a fan-engagement app for Gen-Z audiences, who founder Kevin Kim said are paying less attention to TV screens during live sports. Kim said investors even chased him down on platforms like Twitter and Discord, gaining interest in Stadium Live's unique position in sports media.
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