ALT Sports Data, a supplier of official data from emerging and non-mainstream sports, has completed an initial $1.5m funding round led by Texas-based investment company Trinity West Ventures.
The supplier has also gained support from notable figures in the sports and technology industries, including the appointment of sports betting veteran Benjie Cherniak as an adviser to the business.
ALT Sports Data describes itself as “the leading provider of exclusive, official sports trading and consumer data for emerging sports in the sports betting industry”, and allows operators to offer betting markets on dozens of so-called new action and alternative sports.
The business is based on providing official and unofficial trading data across several emerging and extreme sports, including skateboarding and motocross.
It is built on a proprietary managed trading platform and service, which allows the business to offer pre-match and live odds pricing for operators.
ALT focuses on sports across the action, endurance and motorsport verticals, and said it is rapidly developing official league partnerships with leading sports properties.
Most recently, for example, the business secured exclusive global data rights with Thrill One Sports, operators of sporting events including the Nitro Rallycross motorsports races, Street League Skateboarding and Nitro Circus motocross events.
ALT commented that by partnering with thought-leaders, vendors, operators and regulators in the sports betting space, it aims to bring such events closer together with the betting industry.
ALT Sports Data CEO Joe Dunnigan: “We are here to bring compelling new content and help drive fan engagement to some of the most incredible sports and athletes in the world.”
“We see a massive gap in the sports betting industry,” said Joe Dunnigan, CEO of ALT Sports.
“We are here to bring compelling new content and help drive fan engagement to some of the most incredible sports and athletes in the world. We are very proud to be providing the data, audiences and trading services for dozens of new sports disciplines.”
Cherniak, former MD of Don Best Sports and now an industry adviser and investor, commented: “The interest and excitement around ALT Sports Data in a tough fundraising environment clearly illustrates the opportunity they have identified and are addressing. I am thrilled to play a role in the development and growth alongside this team.”
Frank Sciuto, co-founder of Trinity West Ventures, added: “The growth opportunity of the sports betting sector is exciting, and the team at ALT Sports Data has a proven track record of molding potential into successful businesses. We are excited to see the impact that ALT Sports Data and their partnerships will bring to sports betting and these alternative sports industries.”
ALT said the investment round would fuel the continued aggregation and organisation of athlete and event data, furthering the development of the company’s data feeds and proprietary trading platform.
The business not only intends to empower legalisation of these sports in states where sports betting is permitted, but also to enable media entities to drive new revenue through a growing network of affiliates and affiliate marketing programmes, it concluded.