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The sports and social interaction platform Stadium Live announced today that it has raised $10 million.
Stadium Live is an application 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 this 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 a desire among Gen Z sports fans to connect with their teams and fellow fans on a deeper, more interactive level.” said Blaise Matuidi, co-founder of Origins Fund and 2018 FIFA World Cup champion, in a press release. “Stadium Live is the most relevant way for fans to come together and engage with the sports ecosystem. I’m very excited to be part of the Stadium Live journey alongside an incredible champion like Kevin Durant.
This funding round follows a $3 million seed round. This round was led by Union Square Ventures, along with Golden Ventures, Maple VC, Intonation Ventures and Secocha Ventures.
“Stadium Live offers this next generation of sports fans a unique, mobile-first way to express their fandom,” Andy Weissman, managing partner at Union Square Ventures, said in a statement. “We are thrilled to continue to partner with Stadium Live as they continue to grow and redefine the sports industry.”
Let’s talk about Generation Z
Generation Z is not as interested in traditional sports entertainment as previous generations. However, a large percentage of people belonging to this generation play games every week on smartphones. Stadium Live bets on mixing social media, games and sports will be a successful formula. With over 500,000 signups to the app so far, it looks like they’re onto something.
“We are thrilled to partner with Stadium Live in their mission to create new and unique experiences for a new generation of sports fans.” said Lance Dietz, partner at KB Partners in a statement. “The future of fandom is changing rapidly, and Stadium Live is pushing the boundaries of how fans interact with their communities, sports properties and brands.”
People who sign up for Stadium Live create an avatar and join other sports fans online. Players earn coins by participating in events such as live sports broadcasts and mini-games. These parts are redeemable for swag, power-ups to use in matches, and more.
“The sports industry has been slow to adjust to a new generation of digital native fans,” said Kevin Kim, CEO of Stadium Live. “We’re proud to be building a platform for the community, and with the help of the community. Sports is more than sports for Gen Z, it’s culture, music, fashion and much more. Our goal is to create the tools for people to interact with each other within the metaverse. We are building more than just an environment, we are building a community.
Stadium Live is now available on iOS with an Android version scheduled for Q4 2022.
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