Sportvision Snags $25M Third Round

With two Emmys, one Horizon Award and a $25.5 million Series C round led by Motorola Ventures that closed late last year, Sportvision Inc.’s 2001 is looking bright.

Founded in 1998 with a $2 million seed round, followed by a $9.5 million Series B in 1999, Sportvision’s impressive funding lineup includes new investors AIG Global Sports and Entertainment Fund and ACTV, third round repeat investors Prospect Street Ventures, RRE Ventures, Bay Partners, Orion Partners, and Intel Corp., and finally, first round shareholders Fox Sports, Williams Communications, and Sterling Ventures.

Sportvision is a provider of sports media technology that enhances sporting experiences to fans by providing services such as the first and ten electronic first down system, Ironman Triathlon broadcast on-air and online, plus additional tools intended to heighten NFL, NBA NHL viewing experiences. This New York-based company’s inner workings stem from licensing and sponsorship business models, providing fan-centric technology to broadcasters, leagues, teams and Internet sites, which generate new possibilities for advertisers and sponsors.

“We license the feature, application, or technology to broadcasters, Web sites, or leagues,” said Bill Squadron, CEO of Sportvision. “Alternatively, we do deals directly with sponsors that want to be associated with that feature, application or technology and then provide it directly to the broadcaster or Web site.”

Today, Sportvision’s revenue depends primarily on traditional television and branching into other media outlets will boost as markets progress. “Once you create something that fans enjoy, commercializing it through different means is a lot easier than trying to begin with technology enforcing onto a sport,” Squadron said.

Currently catering to various zones within the world of sports, Sportvision’s goal to establish themselves as leaders in the interactive sporting industry ranks top on their priority list. Consequently, the third round financing serves as a jumping block for possible international expansion and further product deployment into the golf, hockey, basketball, baseball and football realms.

In addition to strategic advisement from Motorola, Squadron said that Morgan Stanley Dean Witter has acted as a consultant in Sportvision’s private rounds. Without the confirmation of a possible IPO, Squadron said that going public is dependent upon the stability of the market and growth of the business within the next year.