Pro League Network is receiving a fresh injection of capital from a new investor.
The sports and entertainment media company announced on Thursday the closing of a $4.2 million seed funding round led by venture capital firm KB Partners. The Illinois-based firm contributed $2 million to the seed round that also included VC firm Eberg Capital, NBA legend Kevin Garnett, Big Ticket Sports, TV personality John Brenkus, DraftKings CBO Ezra Kucharz, and gambling industry investor Chris Grove.
“We’re thrilled to have KB Partners as part of the PLN team,” said PLN co-founders Mike Salvaris and Bill Yucatonis. “It’s clear to us they understand our vision of a vertically-integrated network of sports that reach a modern audience, through the type of competition, the sports’ presentations, and their distribution and methods of engagement.”
PLN specializes in producing niche sports for digital audiences that also enjoy wagering.
The company has produced more than 100 hours of live sports through a portfolio that includes SlapFIGHT Championship, Ultimate Tire Wrestling, Putt Tour, Pro Carrom Tour, a forthcoming 3×3 streetball-style league, and CarJitsu Championship.
In June, PLN gained approval from the New Jersey Division of Gaming Enforcement to offer wagering on the CarJitsu Championship adding to several niche sports in the state.
PLN then bolstered its CarJitsu Championship with a rights fee agreement with Stadium. The deal makes the network the exclusive home for CarJitsu Championship in the U.S.
PLN has gained wagering approval in several jurisdictions across North America with its sports offered as markets on DraftKings, BetMGM, bet365, Betway, and Betfred.
The company also provided markets to Tipico, which sold its U.S. operations in June.
PLN is providing its partners and consumers with peace of mind as a partner of Birches Health. PLN is leveraging its relationship with the behavioral health provider to enhance its responsible gambling initiatives and problem gambling prevention for its subscribers.
As of July 2024, PLN has more than 500,000 subscribers.
