Written By Sports streaming startup Buzzer has secured $20 million in funding, which it plans to use to expand its coverage and establish partnerships with major sports leagues. The New York-based company, founded in 2018 by Bo Han, a former Twitter executive, offers personalized and real-time alerts for sports events, allowing fans to keep up with their favorite teams and players.
The latest funding round was led by venture capital firm RRE Ventures, with participation from former NBA commissioner David Stern, the Jordan Company, and other investors. Buzzer has raised a total of $33 million in funding to date.
With the new capital, Buzzer aims to increase its coverage of sports events, including soccer, basketball, football, and baseball, and to establish partnerships with major sports leagues, such as the NBA and NFL, as well as media companies.
According to Han, Buzzer is looking to provide a more personalized and interactive experience for sports fans, particularly younger generations who have grown up with mobile devices and social media. The company’s platform allows users to receive real-time alerts for specific plays, scores, and news about their favorite teams and players.
“We’re really trying to create this concept of a real-time sports feed, which is personalized to you, and ultimately we want to be that real-time scoreboard for sports,” Han told CNBC.
The company’s technology uses artificial intelligence and machine learning to analyze data from multiple sources, including social media, live streams, and official sports feeds, to provide users with the most relevant and timely information.
Buzzer’s service is currently available in the United States, and the company plans to expand its coverage to other markets, including Europe and Asia.
The company’s innovative approach to sports media has caught the attention of major sports leagues, which are looking for new ways to engage with fans and reach younger audiences. The NBA, for example, has been experimenting with new technologies, such as virtual reality and augmented reality, to enhance the fan experience.
Buzzer’s platform could also provide a new revenue stream for sports leagues, which have been hit hard by the COVID-19 pandemic and the shift to digital media. The company plans to generate revenue through advertising and by offering premium features, such as exclusive content and personalized analytics, to users.
Despite the challenges facing the sports industry, Buzzer’s investors remain optimistic about the company’s prospects. In a statement, RRE Ventures partner Jason Black said, “Bo and the Buzzer team have built a product that is loved by fans and trusted by leagues. We believe they are well-positioned to become a leader in the sports notification and media space.”
While Buzzer faces competition from established players in the sports media industry, such as ESPN and Bleacher Report, the company’s unique approach and focus on real-time notifications could give it an edge in the market.
As the sports industry continues to evolve and adapt to changing consumer habits, Buzzer’s innovative approach to sports media could provide a new model for engaging with fans and delivering personalized content. With its new funding and plans for expansion, the company is poised to play a major role in the future of sports media.
