Sports streaming startup Buzzer Technologies Inc. has raised new funding and entered discussions with leagues, teams and networks as it opens up the platform for licensing deals.
(Bloomberg) — Sports streaming startup Buzzer Technologies Inc. has raised new funding and entered discussions with leagues, teams and networks as it opens up the platform for licensing deals.
The $20 million round was led by venture firm Sapphire Sport and joined by ID Fund, NewBound Ventures and Lerer Hippeau Ventures Management. New athlete investors include tennis player Nick Kyrgios, football player Myles Garrett and basketball star Kevin Durant’s Thirty Five Ventures. It brings the company’s total funding to more than $44 million.
“The strategy here is to work with the biggest rights holders,” Buzzer founder and Chief Executive Officer Bo Han said in an interview. “It’s been very clear that we should no longer be confined to our mobile app.”
Buzzer burst onto the sports scene in 2021 with backing from legends like Michael Jordan and Wayne Gretzky while negotiating deals with the NBA, NHL and PGA Tour. Its app aggregates streaming rights so users can set alerts across several sports and tune in to live game action in real time.
The fresh capital will be spent on the new licensed offering, Powered by Buzzer, which includes all the technology developed for Buzzer’s own app. Management hopes the product will be the “operating system for live sports on mobile” and is in talks with potential partners.
Sports leagues, teams and broadcasters are trying to adapt to younger viewers who prefer viewing shorter clips on their phones instead of sitting through entire matches.
Team owners who have put money behind Buzzer include Steve Pagliuca from the Boston Celtics, the Tampa Bay Lightning’s Jeffrey Vinik and Joe Lacob from the Golden State Warriors.
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