Total amount raised
$21.1 Millions
Latest funding date
Location
Sportskeeda has successfully raised funds through various rounds, with its most recent funding being a corporate round closed on September 18, 2024. The platform, known for its exclusive sports content and personalized alerts, was acquired by Nazara Technologies for ₹440M on August 21, 2019.
Keep reading to explore the intricacies of Sportskeeda's fundraising journey and the investors backing this dynamic sports media platform.
What Is Sportskeeda?
Sportskeeda, founded on May 16, 2009, is a prominent sports media platform headquartered in Bangalore, Karnataka, India. The company was established by Porush Jain and Srinivas Rowjee.
Operating in the blogging, news, publishing, and sports industries, Sportskeeda serves over 100 million fans monthly with well-researched content. The platform employs between 501 and 1000 people, making it a significant player in the digital media landscape.
How Much Funding Has Sportskeeda Raised?
- Seed Round
- Amount Raised: $620K
- Date: September 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial content and user base.
- Seed Round
- Amount Raised: $600K
- Date: February 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand content offerings and improve platform technology.
- Corporate Round
- Amount Raised: ₹200M
- Date: November 2022
- Lead Investors: Nazara Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance user engagement and expand market reach.
- Corporate Round
- Amount Raised: ₹1.5B
- Date: September 2024
- Lead Investors: Nazara Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive further growth and solidify market leadership.
Total Amount Raised: $3.02M
Current Valuation: Not publicly disclosed
Key Investors
- Nazara Technologies
- Details: Nazara Technologies is a publicly listed diversified gaming and sports media platform. It acquired a majority stake in Sportskeeda in 2019.
- Investment Focus Areas: Gaming, sports media, offline gaming, publishing, blockchain-based e-sports.
- Notable Investments: Funky Monkeys, LearnTube, Smaaash Entertainment.
What's Next for Sportskeeda?
Sportskeeda stands on the brink of significant growth, bolstered by Nazara Technologies' increased investment. With Nazara's 91% ownership and plans to raise ₹900 Crores for strategic acquisitions, Sportskeeda is poised to expand its footprint in the sports media sector and beyond.
Future fundraising opportunities look promising, with Nazara's aggressive acquisition strategy targeting high-growth areas like e-sports and blockchain. However, integrating new technologies and maintaining a competitive edge in a rapidly evolving industry will be crucial challenges.
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