ALT Sports Data, a leading provider of innovative sports data and analytics solutions, announced the closing of their Series Seed funding round.
The round was co-led by Eberg Capital and Relay Ventures, with additional participation from Trinity West Ventures, NuFund Venture Group, and several notable sports and technology industry veterans.
ALT Sports Data is at the forefront of utilizing proprietary data to activate a growing wave of new sports enthusiasts.
The mission revolves around building the most extensive database and league portfolio in alternative sports, offering a gateway for sports book operators to tap into an audience of over 83 million potential bettors in the United States alone, with a global reach exceeding 1 billion.
“The convergence of sports betting and entertainment is a megatrend, and the ALT Sports Data team has successfully unlocked this opportunity for an array of popular but under-monetized sports,” said Roger Ehrenberg, Managing Partner of Eberg Capital. “We are excited to be partnering with Joe, Todd, and the entire ASD team to bring their bold plans to fruition in the world of alternative sports properties.”
This funding round comes as ALT Sports Data has secured 17 official league rights deals and 35 commercial agreements.
With early revenue being generated across three fronts: data, demand generation, and league services; and the infrastructure built and now proven, in 2024, these funds will be utilized to efficiently scale the business.
“We see a massive gap in the sports betting industry. We are here to bring compelling new content and help drive engagement to some of the most incredible sports and athletes in the world,” said Joe Dunnigan, CEO of ALT Sports Data. “We are very proud to be providing the data, audiences, and trading services for dozens of premium and established sports properties that represent a combined social media footprint of over 65M passionate fans.”
“We’ve been hyper-bullish on the sports industry as an enduring form of entertainment for over a decade with investments such as theScore and Playmaker Capital,” said Simon Sokol, Vice President of Relay Ventures. “We are excited to add ALT Sports Data to the list of portfolio companies that will help revolutionize the world of sports, sports betting, and entertainment more broadly. Similar to how the internet revolution enabled individuals with seemingly niche interests to find each other, we believe the ASD team will help enable incredibly passionate alternative sports fans to come together through sports betting. The size of niches continues to surprise us and we believe the world of alternative sports to be no different.”
