SportsPro has once again canvassed the opinions of a diverse group of investors and experts from across the global sports tech ecosystem to put together its pick of 20 early-stage companies who should be on the radar of every investor and sports organisation in 2022.
The result is an eclectic mix of little-known technology providers and emerging players, one which embodies many of the standout investment and consumption trends shaping the future of the sports tech sector.
AriSports
Country: UK
Funding stage: Unknown
Sector: Media and content
Co-founded by Rassim and Djewed Hariz, AriSports’ digital prediction platform integrates social and fantasy gaming elements into live sports broadcasts. The initial focus is on soccer, allowing fans to predict on-pitch events, such as shots, crosses or dribbles, and to collect trading cards based on real-life players. The value of these cards increases according to the accuracy of predictions and performances on the pitch. The ultimate ambition of AriSports’ technology is to make the viewing experience more interactive and engaging, a vision which is already attracting attention. Last year, AriSports emerged victorious in UK broadcaster BT Sport’s Innovate 21 competition for startups.
ASX
ASXCountry: Ireland / USA
Funding stage: Seed
Sector: Betting and gaming
ASX was founded 2019 by Paddy Power, the son of David Power who co-founded the bookmaker of the same name, and is one of several startups eager to take advantage of liberalised gambling laws in the US. ASX is building a virtual stock market that allows players to buy shares in players and compete in leaderboards against other players for cash prizes. The company believes it will offer something different to the plethora of existing daily fantasy games as prices will be updated in real time, heightening engagement. College football and US sports will be an area of focus, while the company is also exploring the NFT market. A Series A funding round is expected in early 2022.
Bleachr
Country: USA
Funding stage: Unknown
Sector: Media and content
Minneapolis-based Bleachr is a white-label crowd viewing application that allows sports organisations to communicate directly with remote fans during live events, training sessions, or dedicated supporter groups, and includes additional features like mobile ticketing and food and beverage delivery. One of many companies looking to capitalise on the broadening adoption of remote technologies off the back of the pandemic, its ultimate aim is to drive engagement and increase revenues, while also adding value for commercial partners.
Hammerhead
Country: USA
Funding stage: Series A
Sector: Athletic performance
Hammerhead bills itself as the maker of the most advanced cycling computers in the world and considers itself a serious challenger to long-established rivals like Garmin and Wahoo. The startup designed its Karoo 2 computer during the pandemic. It has since been adopted by both four-time Tour de France winner Chris Froome and Olympic champion triathlete Flora Duffy. Based in Brooklyn, New York, Hammerhead believes it can capitalise on the growing market for premium connected fitness products, driven by Peloton and others, and the fact that both amateur and elite cyclists are willing to pay a high price for anything that delivers marginal gains.
Horizm
Country: Switzerland
Funding stage: Seed
Sector: Spontech
In 2021 Horizm launched Marketplace, an AI-powered platform that allows rights holders, agencies and brands to manage and monetise their digital assets. The platform’s in-built intelligence offers sports organisations a real-time view over how their content is being monetised and delivers insight into how they can better target specific audience groups based on data, such as age and location. This visibility can boost revenues and make it easier for commercial partners to launch flexible, tailored campaigns that maximise investments. The Swiss-based company already counts several major governing bodies and soccer clubs as clients, offering a combined US$1 billion in digital inventory for brands to activate against.
MarketPryce
Country: USA
Funding stage: Seed
Sector: Spontech
Founded in 2020, MarketPryce’s platform connects athletes with relevant brands, helping both parties find suitable marketing arrangements and sponsorship opportunities. The inspiration for the service came from dating websites that use data and intelligence to match potential couples with shared interests and values. MarketPryce uses the same techniques to connect athletes with brands and a particular area of growth is college sports now that athletes are able to profit from their name, image and likeness (NIL) rights. In August 2021, the company raised US$3 million in seed funding to help it capitalise on a potential market of 500,000 student-athletes.
Nocap Sports
Country: USA
Funding stage: Seed
Sector: Spontech
Philadelphia-based Nocap Sports is another startup that has identified college athlete sponsorship as a huge opportunity. One of the unique selling points of its digital marketplace is the direct involvement of colleges themselves, with more than 61 universities having signed up as partners to help their students navigate what can be an daunting process monetising their NIL rights. Having secured US$2.5 million in seed funding in November, the platform offers automated, compliant, transparent and verified NIL related transactions so students can ensure they operate within the rules.
PickGuru
Country: UK
Funding stage: Seed
Sector: Betting and gaming
PickGuru is a social gaming startup that invites sports fans to test their knowledge – and the strength of their conviction – by putting their money where their mouth is in a series of betting-based prediction games. Players can compete in public leaderboards or in private mini-leagues with friends and family. The British company’s leadership team includes Oliver Slipper, the founder of StatsPerform, and a recent UK£2.6 million (US$3.5 million) funding round was backed by Paddy Power, the founders of the Global Cycling Network (GCN) and Grabyo, among others. The capital will be used to scale the service ahead of a launch in 2022.
PitchBooking
Country: UK
Funding stage: Series A
Sector: Grassroots participation
Belfast-based PitchBooking has built an online platform that makes it easy to find and book sports pitches, courts and halls, while simplifying the process for facility owners and operators. The software handles bookings and payments, saving time and increasing revenues for venues, and driving participation at a grassroots level. Customers receive detailed analytics on facility use and the platform is flexible enough to handle special requests such as half-sized pitches. Users include local authorities and sports clubs, and the company recently attracted its first customer in the US.
Recast
Country: UK
Funding stage: Series A
Sector: Media and content
Recast hopes to transform the economics of DTC video by enabling rights holders to monetise their content without charging subscriptions. Viewers watch adverts and share clips to earn in-app credits that can be used to access content from partners, including major soccer clubs and sports organisations. Founded by Andy Meikle, the Edinburgh-based company raised US$8.2 million in a Series A funding round in 2021 that included ex-Pixar executive Simon Bax, cricketer Chris Gayle, private equity firm Visor International, and Riva Technology and Entertainment.
Further reading: Tokens, clips and incentivised sharing… Recast’s strategy to shake up content monetisation
Class of 2021 alumni: Where are they now? (click to expand)
Of the 20 startups that featured in SportsPro’s 2021 list of ‘Ideas to invest in now’, five in particular went on to enjoy breakthrough years as they stepped up their efforts to attract fresh investment and scale their respective solutions.
Buzzer, the new mobile platform for personalised discovery of live sports content, was one such star achiever. In June, the New York-based company successfully closed a US$20 million Series A financing round led by existing investor Sapphire Sport and new investor Canaan Partners. Additional backing came from a stellar cast of characters spanning sports, business and entertainment, including present and former athletes such as Wayne Gretzky, Michael Jordan, Deandre Hopkins, Patrick Mahomes, Connor McDavid, Sabrina Ionescu and Naomi Osaka.
Besides the funding round, Buzzer spent much of 2021 building out its team to around 50 people, opening an office and entering into partnerships with major rights holders like the PGA Tour, NBA, WNBA and NHL, before its platform officially went live in October.
Another 2021 alumnus that enjoyed a landmark year was Indian artificial intelligence (AI) startup Edisn.ai, which in November was acquired by US-based sports streaming service FuboTV. The firm’s computer vision technology, which identifies and tracks athletes and other on-field elements such as advertiser logos, will enable FuboTV to overlay graphics and data into its feeds, bringing added interactivity and opportunities to drive non-subscription revenues in areas like betting and gaming.
Elsewhere, social gaming developer GreenPark Sports raised US$31 million in October to accelerate its plans for NFTs and its vision of a multi-sport metaverse. Having gone into early access at the start of 2021, the Los Angeles-based startup’s Series B funding round was led by existing investors Galaxy Interactive, Sapphire Sport, SignalFire and Advantage, and followed new partnerships with the likes of the NBA, LaLiga and the League of Legends Championship Series (LCS).
Zippin, the checkout-free technology provider, closed a Series B funding round of its own in September, raising US$30 million from new and existing investors including OurCrowd, Maven Ventures, Evolv Ventures and SAP. The raise, which took the company’s total funding to more than US$45 million, came on the heels of increased demand and rapid adoption of checkout-free technology during the pandemic, further validating a solution that has been deployed in major sports venues across the US.
Finally, audience engagement and gamification platform Sport Buff enjoyed an impressive first year in market, buoyed by its ongoing work across sports and esports thanks to partnerships with the likes of Fiba, Formula E and Motorsport Games. It also earned industry recognition after being named ‘best startup tech company’ at November’s SportsPro OTT Awards.
ReSpo.Vision
Country: Poland
Funding stage: Seed
Sector: Athletic performance
ReSpo.Vision uses AI to extract 3D tracking data from any broadcast video feed, using computer vision algorithms to harvest more than 150 million data points per game. The product democratises the power of analytics, transforms information into actionable insights, and will potentially lead to the creation of new use cases in several areas of the sports industry. The technology can automatically detect important events, assess player behaviour, and identify tactical information to help bookmakers develop products, broadcasters create new features for viewers, and clubs and federations improve performance.
Sceenic
Country: UK
Funding stage: Seed
Sector: Media and content
Sceenic’s social viewing technology allows fans to watch the same content in a virtual viewing room, synchronising feeds so all participants see the same action at the same time. Camera and audio feeds of each participant are overlaid on the broadcast so everyone can see each other’s reactions and discuss the game. BT Sport has partnered with Sceenic for its ‘Watch Together’ feature and other clients include Yes Network, T-Mobile, and the Eurovision Song Contest. Sceenic plans to increase its reach significantly in 2022 as social viewing becomes a long-term trend.
Simplebet
Country: USA
Funding stage: Series C
Sector: Betting and gaming
Simplebet’s AI technology allows rights holders and owners to transform virtually every moment of every sporting event into a betting opportunity. The software integrates with existing gaming platforms and uses algorithms to create odds and deliver results within a matter of minutes or even seconds. This automation dramatically increases the number of possible markets and goes beyond what would be practical with human intervention alone. The company already has products for the NFL, MLB and NBA, while it also counts FanDuel among it customers. To date, Simplebet has raised US$80 million, with investors including Andre Agassi and Jake Paul.
SportEasy
Country: France
Funding stage: Series A
Sector: Sports management
The digital transformation of sport has seen clubs and federations adopt technologies originally intended for the business world, with the world’s biggest tech firms now offering customised versions of their products for the sports industry. However, many of these services are still too expensive, complex, and ill-suited for amateur teams. Paris-based SportEasy hopes to bring the convenience and capabilities of such technology to recreational sport, offering web and mobile applications that can simplify the management of a sports club. It provides a centralised hub for scheduling, assignments, communication, statistics, and photos and videos. SportEasy now has more than 1.5 million users in over 100 countries, and raised an additional €5 million (US$5.64 million) in 2021.
SportsMatcher
Country: UK
Funding stage: Pre-seed
Sector: Grassroots participation
There are many social and health benefits to recreational team sport but trying to organise a casual game of soccer, rugby, or basketball can be an arduous task. Sometimes it’s almost impossible to identify a perfect window where enough participants are free of work, childcare, or other commitments to play. London-based SportsMatcher simplifies the process of finding the right players based on availability, skill and location, and manages bookings, invites and costs. The service is currently limited to soccer, but there are plans to expand into basketball, rugby, netball, cricket, volleyball, hockey and baseball.
StellarAlgo
Country: Canada
Funding stage: Series A
Sector: Data
Founded in 2016, StellarAlgo offers data-driven sales, marketing and analytics tools to sports and live event providers so they can better monetise their audiences across the complete fan lifecycle. Its cloud-based customer data platform (CDP) is powered by 40 billion data points and 100 million unique fan profiles, combining various data sources, including ticketing, email, demographics, merchandise, and customer relationship management (CRM) systems. All of this helps to understand and predict various fan behaviours, allowing customers to develop fan-centric approaches to driving revenues. The Canadian-based company has more than 85 customers and has raised US$19 million to date.
SwingVision
Country: USA
Funding stage: Seed
Sector: Athletic performance
SwingVision is an AI-powered tennis app that brings professional-grade analytics capabilities to players of any skill level. Players mount their phone at the court and tap record, allowing SwingVision’s algorithms to analyse video in real time, providing detailed statistics, video highlights, and personalised coaching. Partners include Tennis Australia and the UK’s Lawn Tennis Association (LTA), while a recent seed funding round saw participation from former men’s world number one Andy Roddick, the co-founders of MyFitnessPal, and the chief financial officer of Strava.
Tappit
Country: UK
Funding stage: Unknown
Sector: Retail
Mobile and contactless payments are essential for any modern sporting venue. Going cashless speeds up transactions so operators can increase sales, offer a greater range of services, and improve the fan experience. Tappit’s portfolio of services helps achieve these desired outcomes whilst simultaneously driving efficiencies and generating data that can be used to better understand the people coming through the turnstiles. Based in Leeds and founded in 2017, the company’s solution has been deployed at venues and events including Manchester City’s Etihad Stadium and the Abu Dhabi Grand Prix.
Veo
Country: Denmark
Funding stage: Series B
Sector: Media and content
Veo’s AI video camera system helps sports teams at any level capture footage and live stream their sporting events without the need for an operator. The technology can be used to broadcast live matches or even training sessions, helping to grow audiences and deliver footage that can be used to analyse performance. Essentially, Veo democratises the performance analysis capabilities that elite athletes have become accustomed to. In early 2021, the Danish firm raised €20 million (US$22.5 million) in Series B funding as it looked to expand its reach and engineering teams.
Further reading: ‘We’re creating a video network for all of soccer’: Veo’s goal to take AI tech to the masses
WaitTime
Country: USA
Funding stage: Pre-seed
Sector: Venue management
WaitTime’s crowd management technology helps venue operators improve the fan experience by making it easier to navigate stadiums and arenas. The company’s AI technology crunches real time and historical data to provide operations staff with insight into crowd movement and density, helping them to plan more effectively for different types of events and feed that information to spectators – for example, data can be displayed on digital signage or in official mobile applications. Partners include the NBA’s Miami Heat and MLB’s Los Angeles Dodgers, as well as the Melbourne Cricket Ground in Australia.
This feature was originally published in Issue 116 of SportsPro magazine. Find out more about the edition here. To learn more about Ignition, SportsPro’s new home for the sports industry’s technological transformation, click here.
