Sportradar secures strategic investment from Revolution Growth to support its expansion in the US market; Ted Leonsis, Mark Cuban and Michael Jordan will join the newly formed Advisory Board
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. Dallas Mavericks (NBA) owner and investor Mark Cuban and Charlotte Hornets (NBA) owner and businessman Michael Jordan are also participating in the funding round and joining the Sportradar U.S. board.
Sportradar is the global leader in providing sports data and content. 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.
Sportradar is an international organization, 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.
About Revolution Growth
Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience and control in their lives. By taking a long-term approach and developing a true, hands-on partnership with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.
EQT is a leading private equity group in Europe with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion, and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. For further information, please visit www.eqt.se