Total amount raised
$21.1 Million
Latest funding date
09/01/2024
Location
Sportskeeda has successfully raised funding over four rounds, with Nazara Technologies as the primary investor. The latest funding was secured through a Corporate Round, showcasing the platform's growth and investor confidence.
Keep reading to explore the intricacies of Sportskeeda's fundraising journey and the investors backing this dynamic sports content platform.
What Is Sportskeeda?
Sportskeeda, based in Bangalore, Karnataka, India, is a prominent platform for exclusive sports content. The company operates in the blogging platforms, news, publishing, and sports industries, providing personalized alerts for users' favorite teams and leagues.
With an employee count ranging from 501 to 1000, Sportskeeda has established itself as a significant player in the digital media space. The platform covers a wide array of sports, entertainment, and gaming news, ensuring that enthusiasts stay informed with the latest updates and expert analysis.
How Much Funding Has Sportskeeda Raised?
- Seed Round
- Amount Raised: USD 620,000
- Date: September 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the platform and develop initial content and technology.
- Seed Round
- Amount Raised: USD 600,000
- Date: February 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance user engagement features.
- Corporate Round
- Amount Raised: USD 2,500,000
- Date: November 2022
- Lead Investors: Nazara Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and invest in new content verticals.
- Corporate Round
- Amount Raised: USD 17,500,000
- Date: September 2024
- Lead Investors: Nazara Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and explore strategic acquisitions.
Total Amount Raised: USD 21,220,000. Current Valuation: Not publicly disclosed.
Key Investors
- Nazara Technologies
- Details: Nazara Technologies is a leading gaming and sports media company based in India. They have significantly increased their stake in Sportskeeda's parent company, Absolute Sports, to 91%.
- Investment Focus Areas: Sports media, offline gaming, publishing sectors, sports entertainment, blockchain-based e-sports fan interaction.
- Notable Investments: Absolute Sports (parent company of Sportskeeda), Smaaash Entertainment, Stan (blockchain-based e-sports fan interaction firm).
What's Next for Sportskeeda?
With Nazara Technologies' increased stake in Sportskeeda's parent company, the platform is poised for significant growth. The additional ₹145.5 Crores investment and Nazara's 91% ownership provide substantial financial backing, opening doors for strategic acquisitions in offline gaming and publishing sectors. The planned ₹900 Crores fundraising for further acquisitions underscores the vast potential for expansion.
However, integrating new acquisitions and maintaining a competitive edge in the rapidly evolving sports media and e-sports industries will be challenging. As Sportskeeda navigates these complexities, the focus will likely be on leveraging new technologies like blockchain to enhance fan interaction and engagement, ensuring they stay ahead in the dynamic market.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Sportskeeda and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
