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Latest round of fundraising closes

07/20/2014, 11:30pm CDT
By Jim Dahline

A few weeks back, we shared the exciting news that we’d secured $25 million in financing through our Series D round. We have been absolutely overwhelmed with the congratulations, well wishes and digital “high-fives” that we’ve received. We want to sincerely thank each and every one of you. Not only for your kindness over the past few weeks, but for your support and business over the past 6 years.

But, we’ve still got some news to share.

 

Today, we’re thrilled to announce that our Series D round welcomes two new investors to Sport Ngin; Taylor Corporation and Univision. Their combined strategic investment totaling $4 million, is the final piece of our now completed Series D round. This brings total Series D financing to $29 million and total investment in Sport Ngin, since it’s founding in 2008, to nearly $40 million dollars.

“These two investors understand the market opportunity at the intersection of media and sports,” commented Justin Kaufenberg, Co-founder & CEO of Sport Ngin.  “Taylor Corporation helps businesses and individuals communicate their messages and build memorable brands.  That is our goal at Sport Ngin in the youth and amateur sports technology market.  We are thrilled to be able to leverage the Taylor network that is owned by Glen Taylor who also owns the Minnesota’s Star Tribune newspaper, the Minnesota Lynx, and is Chairman of the NBA Board of Governors through his ownership of the Minnesota Timberwolves.”

Taylor Corporation stated, “Our investment in Sport Ngin realizes our interests in superior technology companies with a leadership team and business model second to none in this sector.”

“We are pleased to partner with Sport Ngin and leverage the synergies between our companies,” said Rick Ehrman, EVP, corporate business development, Univision Communications Inc.  “This is a great opportunity for us to continue our investment in sports - a passion for our audience - to now include amateur sports."

Our investment in Sport Ngin realizes our interests in superior technology companies with a leadership team and business model second to none in this sector.” - Glen Taylor

“This gives Sport Ngin the ability to tap into the popularity of soccer and the rising influence of the Hispanic community in the U.S.,” said Kaufenberg. “Univision Communications - and it’s 24-hour sports programming - is the leader in this space.”

This has all been a very exciting time for us and we are continuing to move forward in our mission; to help our volunteers spend more time with athletes by removing the administrative burdens of managing their sports organizations. 

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