High Schools Sports – The Next Frontier

Overtime

While JohnWallStreet typically focuses on publicly traded companies, several noteworthy transactions (P.E. investments and strategic partnerships) within the high school sports space were recently announced. Below is a summary of each transaction:

Keemotion has partnered with Monumental Sports Network (MSN), the first direct to fan regional sports platform, to produce and livestream youth and high school hockey games played at Kettler Capitals Iceplex. Keemotion’s cloud-based technology and proprietary motion detecting camera system drastically reduces the production work required to broadcast a high-quality live stream. The automated video production technology also offers coaches, teams and leagues with real-time analytic capabilities. Monumental plans on extending the partnership to youth basketball, as well.

Overtime, a company that dubs itself “a sports network for the next generation of fans”, has raised a $9.5 million Series A round; led by Andreessen Horowitz (Kevin Durant’s Durant Co. also participated in the round). The company, which produces short-form video content (highlights and behind-the-scenes coverage focused on high school star athletes), designed for Instagram, Snapchat, YouTube; has received nearly 1 billion views to date. SportsNet New York and NBC Sports Philadelphia have both signed content sharing partnerships with the digital media startup.

SIDEARM Sports, a software and technology provider that powers the websites, live stats and video streaming for athletic programs across the country has announced a partnership with CBS Interactive Advanced Media (CBS). Together, the two companies will livestream 14,000 sporting events and manage 1,100 high school and collegiate athletic websites (that will stream games). Shared clients (include 85% of P5 schools) will have access to SIDEARM’s content management & delivery systems, mobile platform and creative design solutions; as well as CBS’ video streaming and distribution technology.

Howie Long-Short: Keemotion has raised $5.5 million to date, including a $3.6 million Series A round that counts David Stern, Mike Dunleavy Jr. and the New Jersey Devils as investors.

Overtime’s $9.5 million Series A round brings the total amount it has raised to $12 million; they previously closed on a $2.5 million seed round in February 2017. David Stern was among the 9 investors who participated in that round.

SIDEARM Sports was acquired by Learfield Sports back in 2014. In 2016, Learfield Sports (which represented 123 collegiate programs at the time) was acquired by Atairos Management for an estimated $1.2 billion.

Fan Marino: Kevin Durant has been investing in technology companies since 2015, when he participated in Postmates $80 million Series D round. The Warriors star has since invested in Acorns, Zenreach, Rubrik, Mirror Emoji Keyboard, Mars Reel, and Skydio. It’s interesting to note that as KD has gotten more experience investing, he’s participating in earlier rounds. His first couple of investments were in Series C and D rounds. His most recent investments have been in Series A, B or Seed rounds.

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Author: John Wall Street

At the intersection of sports & finance.

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