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Sports and social interaction platform Stadium Live announced today it raised a $10 million round.
Stadium Live is an app where sports fans can hang out with others, play games, and watch sports. The app targets Generation Z (those born between 1997 and 2012) and has seen success with that group.
KB Partners and Union Square Ventures led the round. Kevin Durant’s 35 Ventures, Blaise Matuidi’s Origins Fund, Dapper Labs Ventures, Position Ventures, Valhalla Ventures, 6th Man Ventures, Alumni Ventures, and Breakout Capital also participated in the round.
“Throughout my career, I’ve seen firsthand Gen Z sports fans’ desire to connect with their teams and fellow supporters on a deeper, more interactive level.” said Blaise Matuidi, cofounder of Origins Fund and 2018 FIFA World Cup Champion, in a press release. “Stadium Live is the most relevant way for fans to gather and engage in the sports ecosystem. I’m very happy to be part of the Stadium Live adventure alongside an incredible champion like Kevin Durant.”
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This round of funding follows a $3 million seed round. That round was led by Union Square Ventures, as well as Golden Ventures, Maple VC, Intonation Ventures, and Secocha Ventures.
“Stadium Live is providing this new generation of sports fans with a novel and mobile first way of expressing their fandom” said Andy Weissman, managing partner at Union Square Ventures, in a statement. “We’re excited to continue to partner with Stadium Live as they continue to grow and redefine the sports industry.”
Talking about Z generation
Gen Z is not as into traditional sports entertainment as earlier generations. However, a large percentage of folks who fall into that generation play games weekly on smartphones. Stadium Live is betting on the mixture of social media, gaming, and sports will be a successful formula. With over 500,000 sign ups for the app so far, it seems they might be on to something.
“We are thrilled to partner with Stadium Live on their mission to create new and unique experiences for a new generation of sports fans.” said Lance Dietz, a partner at KB Partners in a statement. “The future of fandom is evolving rapidly and Stadium Live is pushing the envelope on how fans engage with their communities, sports properties, and brands.”
Folks who sign up for Stadium Live create an avatar and join others sports fan online. Players earn coins while participating in events such as sports livestreams and mini-games. Those coins are redeemable for swag, power-ups for use in matches, and more.
“The sports industry has been slow to adapt to a new generation of digitally-native fans,” said Kevin Kim, CEO of Stadium Live. “We pride ourselves on developing a platform for the community, and with the help of the community. Sports is more than just sports to Gen Z, it is culture, music, fashion, and so much more. Our focus is on building the tools to let people interact with each other within the metaverse. We’re building more than just an environment, we’re building a community.”
Stadium Live is now available on iOS with an Android version due out Q4 of 2022.
