Getty Images
The National Basketball Association (NBA) has signed a multi-year strategic partnership with StellarAlgo that sees the league acquire an equity share in the data analytics startup.
Contract:
- NBA franchises get access to consumer experience data
- Analytics cover venues, ecommerce, social media, and marketing
- StellarAlgo Plays platform will allow teams to launch personalised marketing campaigns
- Financial terms were not disclosed, but the league said its NBA Equity investment arm’s involvement in the company is ‘meaningful’
Context:
In 2021, the Canadian startup raised US$16.5 million in funding to further develop its platform and double its workforce. StellarAlgo’s new league-wide agreement builds on its existing NBA partnerships with the Brooklyn Nets, Milwaukee Bucks, Portland Trail Blazers and the Sacramento Kings.
Comment:
David Lee, head of NBA Equity, told Bloomberg: “We saw great potential for growth and it excited us. “The fan experience is the most important part of the deal.”
Coming next:
The NBA and its 30 team will seek to leverage StellerAlgo’s insights to better connect with fans both in-venue and across digital platforms.
