Digital sports media company The Game Day on Wednesday said has secured $4.5m in Series A financing.
The company’s CEO said the funding round comes as it scales to meet what it termed “strong demand” in the North American sports media space.
The Game Day’s latest round of funding was led by sports media and online gaming investors, along with seven returning investors. Officials said the capital raised will support the company’s ongoing growth, including commissioning additional marquee talent, the introduction of innovative content formats, driving increased conversions, and opportunities for monetization via new revenue streams.
To date, the company said its network has amassed more than 4m network followers, averages more than 150m monthly impressions and continues to grow at a consistent rate.
The Game Day produces approximately 20 productions per week across its YouTube, Instagram, TikTok, Twitter and Facebook properties, with a roster of creators, athletes and influencers such as Jordan Schultz, Jenna Bandy and Frank Michael Smith.
Founded remotely in 2020 in the midst of the global pandemic, in slightly more than a year, the business has built a staff of 50-plus employees in its New York office, as well as signing partnerships with a portfolio of North American sportsbook operators.
The company recently expanded into the casino space, with the launch of TheGameDayCasino.com.
“The Game Day has seen tremendous growth this past year and we are thrilled to continue to charge forward and drive our business to the next level,” Matt Heiman, CEO and co-founder, said in a statement. “This funding and the support of our investors will allow us to increase our scale and engagement and will unlock additional opportunities for monetization and audience conversion through our affiliate partnerships with major sportsbook operators, our content and our commitment to drive innovation in the sports media space.”
Heiman said the current M&A climate in the sports gambling industry, including Penn National Gaming’s recent acquisition of Score Media, makes it clear that increasing attention is being paid to similarly fast-growing sports betting media properties in the US.
“With the rise of legalized sports betting now piquing the interest of a swathe of market-leading investors, and the sports gambling industry’s desire to invest in sports betting content properties, The Game Day finds itself ideally positioned between the sports media and online gambling spaces to deliver meaningful audience scale at a particularly crucial time in the industry’s life cycle,” Heiman added.
