ALT Sports Data has announced the completion of its initial $1.5m Seed Round funding, led by Trinity West Ventures as well as featuring sports and technology industry veterans.
Based in San Diego, ALT Sports Data is a provider of exclusive, official sports trading and consumer data for action and alternative sports for the sports betting industry.
Through partnerships with sports betting executives, vendors, operators, and regulators, the provider states that it “leverages deep understanding and rooted relationships within action, endurance, and motorsports verticals, to authentically bring these two industries together”.
“The growth opportunity of the sports betting sector is exciting, and the team at ALT Sports Data has a proven track record of molding potential into successful businesses,” commented Frank Sciuto of Trinity West Ventures.
“We are excited to see the impact that ALT Sports Data and their partnerships will bring to sports betting and these alternative sports industries.”
The funding round concludes as ALT Sports Data continues to develop partnerships with sports properties across several verticals, most recently with multi-media platform Thrill One Sports and Entertainment.
Joe Dunnigan, CEO of ALT Sports, added: “We see a massive gap in the sports betting industry. We are here to bring compelling new content and help drive fan engagement to some of the most incredible sports and athletes in the world.
“We are very proud to be providing the data, audiences and trading services for dozens of new sports disciplines.”
ALT Sports Data has also announced that Benjie Cherniak is joining the data provider as a Strategic Advisor.
“The interest and excitement around ALT Sports Data in a tough fundraising environment clearly illustrates the opportunity they have identified and are addressing,” noted Cherniak.
“I am thrilled to play a role in the development and growth alongside this team.”
ALT Sports Data states that the investment “will fuel the continued aggregation and organization of athlete and event data and further the development of their dynamic data feeds and proprietary trading platform”.
The provider adds that it pushes for the legalization of action and alternative sports in all legal sports wagering states, and it helps media companies deliver new revenue via its affiliate network and affiliate marketing programs.