As viewership habits change, sports leagues, media companies, and broadcasters are looking for ways to keep pace. Investors appear to be validating the worth of at least one company aimed at providing solutions.
On Tuesday, WSC Sports, which produces videos of sports highlights using AI technology, announced it raised $100 million in a Series D funding round.
- Investment company ION Crossover Partners led the round.
- Intel Capital, Detroit Venture Partners, and O.G. Tech — all of which had invested in the company previously — participated as well.
In 2021, WSC Sports created more than 3.4 million highlights. The NBA, NHL, ESPN, Bleacher Report, YouTube TV, and Bundesliga are among more than 200 broadcasters and leagues who have solicited WSC Sports’ services.
The company said it will use the cash infusion to support additional “expansion into new geographies, sports, and platforms such as OTT, NFTs, sports betting, and more.” It will also recruit more than 150 employees globally.
WSC Sports fits a similar profile to many of ION Crossover Partners’ investments. The company’s portfolio includes several brands aiming to provide digital solutions, including Fiverr and Via.
“Content is king, and we view sports content as one of the crown jewels of the digital age,” ICP managing partner Gilad Shany said.