ALT Sports Data is poised for growth as an official data provider of emerging sports with the closing of a $5 million seed round that garnered strong interest from investors.
The oversubscribed seed round was co-led by VC firms Relay Ventures and Eberg Capital and also included Motley Fool Ventures and Scrum Ventures.
ALT Sports Data will use funds from the funding round to scale business operations and support NXTbets, a content platform that provides users with sports betting information.
NXTbets provides users with information including odds across multiple sportsbooks.
“ASD is carving out a high-impact niche with global relevance,” said Scrum Ventures Partner Michael Proman. “Their team understands the nuance of culturally relevant sports and how to translate that into real-world engagement.”
ALT Sports Data, established in 2021, provides official data for some of the most popular alternative sports competitions in the world, including the World Surf League, Bare Knuckle Fight Championship, Athletes Unlimited and Power Slap. Earlier this year, the California-based company secured deals with two historic sports entities.
ALT Sports Data landed a global partnership with X Games in January providing the company with access to the official data of the extreme sports competition. The deal allowed sports fans to wager on the X Games for the first time in its 30-year history.
A month later, ALT Sports Data struck an official betting data partnership with Formula 1. The deal made ALT Sports Data an official supplier of the global motor racing competition.
Formula 1 and ALT Sports Data work together to deliver real-time data and odds to bettors.
ALT Sports Data bolsters portfolio of operator partners
The sports trading and consumer data company announced a deal in March with bet365 to provide the British operator with official real-time data analytics and information.
Bet365, which has a global customer case of roughly 100 million players, has increased the number of online sports betting markets it can offer behind its pact with ALT Sports Data.
Before its deal with ALT Sports Data, bet365 offered 96 sports to customers globally.
ALT Sports Data’s partners also include BetMGM, DraftKings, FanDuel, Caesars, Hard Rock Digital and Underdog. It also has a pact with data provider Abelson Info.
