Splash Sports, a prominent name in the skill-based social sports gaming industry, recently completed a successful Series B funding round, securing $14.5 million to fuel its expansion across North America. This strategic financial move positions Splash Sports to scale its operations significantly in the United States and Canada, enhancing its influence in these key markets.
The funding round was spearheaded by Dream Ventures and supported by a robust lineup of investors, including Boston Seed, Velvet Sea Ventures, Green Wave Ventures, and Evolution Partners. Additionally, EP Golf Ventures, associated with the PGA of America and Elysian Park Ventures, played a crucial role in this financial boost, particularly in broadening Splash Sports’ footprint in the golfing sector through various collaborative initiatives.
With the fresh capital infusion, Splash Sports is set to bolster its portfolio of social sports gaming offerings. The company is known for its unique approach, allowing sports enthusiasts to engage in real-money contests such as Survivor, Pick ’Em, and Tiers, among others. This distinctive feature differentiates Splash from conventional daily fantasy sports (DFS) platforms and sportsbooks, enabling fans to assume the role of commissioner and orchestrate their own contests during major sports events.
Moreover, Splash Sports offers a daily peer-to-peer QuickPicks feature, where participants can win up to 50 times their entry fee, further enhancing user engagement and excitement. This innovative product suite aims to deepen the connection between fans and the sports they love, while also cultivating a larger audience for media partners.
This latest funding round is a continuation of Splash Sports’ strategic growth trajectory. Previous investments from significant entities like Accomplice, K5, and major North American sports leagues, including the NFL, NHL, and MLB, have been pivotal in solidifying the company’s presence in the U.S. market. These partnerships underscore the confidence investors hold in Splash Sports’ vision and business model.
TJ Ross, co-founder and CEO of Splash Sports, expressed enthusiasm over the new funding, emphasizing the company’s commitment to transforming the sports experience by making it more interactive and immersive for fans. He remarked on the importance of this financial backing in enabling the company to continue offering innovative experiences that bring fans closer to the sports action while also benefiting league and media partners.
“Our games empower fans to be their own commissioners, creating and overseeing contests around the most exciting moments in sports, all while fostering deeper engagement for our media partners,” Ross said, highlighting the dual benefit of their offerings.
Dream Ventures, the leading investor in this round, echoed Ross’s sentiments. Richard Blankenship, founder and general partner of Dream Ventures, praised Splash Sports for establishing a unique niche in the sports gaming sector. He noted the company’s focus on creating a community-driven, competitive, and social gaming environment as the next evolution in fan engagement with live sports.
“The way people interact with sports is changing, and Splash is at the forefront of that transformation,” Blankenship stated, underscoring the innovative direction Splash Sports is taking in the industry.
However, while Splash Sports continues to grow and innovate, the competitive landscape remains challenging. Traditional DFS platforms and newer entrants in the sports gaming market are continuously evolving, offering fans alternative ways to engage with sports. This dynamic environment calls for constant adaptability and innovation from companies like Splash Sports to maintain their competitive edge.
Despite these challenges, Splash Sports is optimistic about its growth prospects. The company’s ability to offer a unique, fan-driven gaming experience positions it well to capture a significant share of the sports gaming market in North America. As the industry continues to expand, driven by technological advancements and changing consumer preferences, Splash Sports aims to lead the charge in redefining how fans experience and interact with sports.
Looking ahead, Splash Sports plans to leverage its new funding to explore further opportunities for collaborations and partnerships within the sports and media landscapes. This strategic approach aims to enhance its offerings and deliver even more value to its growing community of users and partners.
The infusion of capital from this latest funding round marks a pivotal moment for Splash Sports as it continues to navigate the rapidly evolving sports gaming industry. With a solid base of support from investors and a clear vision for the future, Splash Sports is poised to make significant strides in transforming the fan experience and shaping the future of sports gaming.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
