Source: John Wagner
Sportsdigita, an all-in-one cloud-based presentation software company owned by former National Hockey League executive Angelina Lawton, sees opportunities in the pandemic as sports teams do business online rather than in person.
The company, whose clients include the Chicago Bears, Los Angeles Lakers, Boston Red Sox, Pittsburgh Steelers and New York Yankees, is raising $ 10 to 25 million in Series A funding. Some of the money may be used to buy smaller businesses that have been financially damaged by Covid-19.
Sportsdigita is a subscription-based software company that has seen growth since Covid-19 canceled personal meetings. It offers bespoke presentations and integrates video conferencing and presentation software. It competes with other services like Microsoft PowerPoint and Microsoft Teams, both of which are included in an Office subscription.
However, Sportsdigita sees itself as "PowerPoint on Steroids" as the Digideck software provides bespoke presentations for the sales and marketing groups of sports teams who use them in discussions with corporate partners. Lawton said Sportsdigita's Digideck platform's professional services, which come with subscription plans, help it stand out from the competition.
"It's a big differentiator between us and our competitors," said Lawton. "We're actually doing the heavy lifting with the creative and design services. We're going to do the presentations and hand them over to the teams as soon as they're done, versus our competitors selling their product, and then it's up to the company or them professional team to put your packages together. "Sports digital subscriptions cost between $ 20,000 and $ 500,000.
Lawton said the coronavirus pandemic has also accelerated the development cycle of sports digita.
"Before, we had to rely on planes and face-to-face meetings," Lawton said. The product was not due to hit the market until 2021 or 2022, but has been prioritized due to the pandemic.
Lawton said the Series A funding would better position Sportsdigita to gain market share among other companies that offer promotional software. MarketsandMarkets announced in 2019 that the revenue increase will be a $ 2.6 billion market through 2024.
Sportsdigita completed a $ 3 million startup round in 2017 led by venture capital firm Peak6 Investments. One of its investors is the well-known Minnesota sports journalist Sid Hartman, who passed away on October 18th. Lawton said the company has 40 employees and plans to grow to 60 in 2021.
"We're in the fourth inning of a baseball game," said Lawton, describing the future of Sportsdigita. "These next innings will be critical to our success when it comes to how we spin and grow."