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Platform for sports and social interaction Stadium Live announced today that it has raised a $10 million round.
Stadium Live is an app where sports fans can hang out with others, play games and watch sports. The app is aimed at Generation Z (born between 1997 and 2012) and has had success with that 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 first-hand the desire of Gen Z sports fans to connect with their teams and fellow supporters on a deeper, more interactive level.” Blaise Matuidi, Origins Fund co-founder and 2018 FIFA World Cup Champion, said in a press release. “Stadium Live is the most relevant way for fans to come together and participate in the sports ecosystem. I’m thrilled to be a part of the Stadium Live adventure alongside an incredible champion like Kevin Durant.”
This funding round follows a $3 million starting round. That round was led by Union Square Ventures, as well as Golden Ventures, Maple VC, Intonation Ventures and Secocha Ventures.
“Stadium Live offers this new generation of sports fans a new and mobile first way to express their fandom,” Andy Weissman, managing partner at Union Square Ventures, said in a statement. “We are excited to continue partnering with Stadium Live as they continue to grow and redefine the sports industry.”
Talking about Z generation
Gen Z doesn’t like traditional sports entertainment as much as previous generations. However, a large percentage of people who fall into that generation play games on smartphones on a weekly basis. Stadium Live is betting that the mix of social media, gaming and sports will be a success formula. With over 500,000 signups to the app so far, it looks like they’re onto something.
“We are excited to partner with Stadium Live on their mission to create new and unique experiences for a new generation of sports fans.” Lance Dietz, a partner at KB Partners, said in a statement. “The future of fandom is evolving rapidly and Stadium Live is pushing the boundaries of how fans interact with their communities, venues and brands.”
People who sign up for Stadium Live create an avatar and join other sports fans online. Players earn coins while participating in events such as sports live streams and mini-games. Those coins can be exchanged for swag, power-ups for use in matches, and more.
“The sports industry has been slow to adapt to a new generation of digital fans,” said Kevin Kim, CEO of Stadium Live. “We take pride in developing a platform for the community, and with the help of the community. For Gen Z, sport is more than just sport, it’s culture, music, fashion and much more. Our focus is on building the tools to allow people to communicate with each other within the metaverse. We build more than just an environment, we build a community.”
Stadium Live is now available on iOS with an Android version coming out in Q4 2022.
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