With $1.5B raised in 84 rounds so far this year, sports tech companies are on track to beat 2015’s all-time funding record of $1.6B. The sector has seen a rise in average ticket size in seed stage ($1.7M) and Series A rounds ($4.8M), and a drop in Series B rounds to $8.6M in 2016.
Beijing-based Le Sports, which raised a whopping $1.2B in its Series D accounts for a majority of funding this year. Other notable funding rounds this year include Boston-based DraftKings, which raised a $70M Series D, and New York-based Krossover, which raised a $20M Series B.
Company formation has grown each year from 115 in 2010, to 302 in 2015. Large upcoming sectors include sports management marketplaces like Coachup, and sports goods manufacturers like Whoop.
With $4.1B invested so far, online sports platforms, which span social platforms, online media, e-commerce plays, sports betting, and stock simulation accounted for more funding than all the other business models in the sector. Sports management tech companies, which include event and venue management solutions, sports analytics companies, marketplaces, and marketing and software solutions have seen $1.2 billion dollars in funding.
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