Sports data solutions provider Sportradar has secured new funding from investment firm Revolution Growth, in a strategic partnership that will see the investment vehicle's co-founder Ted Leonsis join the company’s newly-formed US advisory board alongside businessman Mark Cuban and basketball legend Michael Jordan.
The partnership with Revolution Growth will accelerate Sportradar’s build-out of exclusive content and innovative products for sports and media companies.
Revolution co-founder Ted Leonsis, owner of the Washington Capitals ice hockey team, Washington Wizards basketball team, and Washington Mystics women’s basketball team, will advise the company on its US growth strategy alongside Revolution Growth partner Evan Morgan.
They are joined on the advisory board by billionaire businessman Mark Cuban, owner of the Dallas Mavericks, and Charlotte Hornets owner Michael Jordan. Considered the greatest basketball player of all time, in 2014 Jordan became the first NBA player to become a billionaire.
Sportradar said it would leverage the advisory board and capital to build a selection of value-enhancing products and applications for its client base, which includes technology, digital media, fantasy sports, social media and gaming businesses.
“The Sportradar team is ahead of the curve in understanding the crucial role data plays in creating innovative content and products that captures audiences,” Leonsis commented. “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.”
Sportradar chief executive Carsten Koerl described the Revolution Growth team as some of the best and brightest minds in technology and sports.
“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.”
The deal has been hailed by Sportradar’s existing investor EQT VI. Dominik Stern, partner at the company’s investment advisory arm EQT Partners, said: “Teaming up with Revolution Growth, Ted, Mark and Michael in the US opens up new exciting opportunities for Sportradar.
“Revolution Growth’s expertise in the US sports and digital media market, their long-standing relations with key market players as well as the newly appointed US advisory board will help Sportradar in reaching its full potential in this exciting sports and media market.”