Sports investing platform PredictionStrike raises $1.7m capital, launches new mobile app

Sports investing platform PredictionStrike raises $1.7m capital, launches new mobile app

Published: 08-09-2021 11:33:00 | By: Pie Kamau | hits: 3444 | Tags:

PredictionStrike, the only performance-based sports platform where fans can buy and sell virtual shares of professional athletes as if they were stocks, announced its partnership with MaC Venture Capital and New Age Capital, as well as the launch of the company's new mobile app.

The partnership brings together an impressive group of like-minded organizations. The PredictionStrike team is excited to bring MaC's exceptional industry/operator experience and deep relations within the sports and entertainment sector, and New Age's unparalleled combination of cultural awareness and brand building to the table as they work to scale the company and its user base.

Deven Hurt, CEO, PredictionStrike: "Over the next 12 months, we're hyper-focused on using this investment to lay the foundation for PredictionStrike to become the premier platform to connect athletes and fans. We're thrilled to be partnering with MaC Venture Capital and New Age Capital to make this dream a reality."

Since the return of sports after the 2020 COVID-19 hiatus, PredictionStrike has completed over $3M in transactions. After closing a $1.7M funding round with investors MaC Venture Capital and New Age Capital, PredictionStrike is using the influx of cash to expand their team, further build out their technology, and increase their marketing efforts to bring in new users.

Marlon Nichols, Co-founder and Managing General Partner, MaC Venture Capital: "We're proud to support PredictionStrike through this exciting next chapter as it expands its technological offerings to trade virtual shares of athletes. We are looking forward to seeing PredictionStrike drive culture forward by bringing sports lovers together while providing opportunities for athletes to further benefit off the field for the performance and brand that they build on the field."

Ivan Alo and LaDante McMillon, Co-founders, New Age Capital: "The PredictionStrike team is incredibly intelligent and hardworking with a crystal-clear vision of the future of sports fan engagement. We've had the pleasure of getting to know Deven and Brad for over a year before we made our investment. Their ability to organically build a large community of users and execute at the highest level gave us the confidence to be a part of their journey."

The PredictionStrike app, available for iOS in the Apple App Store, is launching in tandem with this year's highly anticipated NFL season and will allow users to invest in their favorite athletes from the convenience of their mobile devices. Share prices are determined by a player's real-world performance as well as the fans' demand for those shares. PredictionStrike's share prices provide sports fans, decision makers and media with a new way to measure a player's impact on the game, while also giving shareholders a direct emotional and financial connection to their favorite athletes.

Brad Chabra, COO, PredictionStrike: "Our mission is twofold. First, we want to empower fans to turn their favorite athletes into investments. Second, we want to empower athletes to directly connect with their fans and benefit monetarily from this connection."

In an effort to engage professional athletes as partners going forward, PredictionStrike will give athletes a percentage of their PredictionStrike market cap, so that athletes can continue to gain as the company grows and their share prices increase. Athletes will be free to sell those shares for cash, trade them for shares of other athletes, or keep them and bet on themselves. In exchange, PredictionStrike athletes will use the platform to build an authentic connection with their fans.

"Imagine a world where athletes hold quarterly shareholder meetings over zoom for their PredictionStrike investors or where athletes give their investors access to exclusive content and behind the scenes looks into their day to day lives," said Hurt.

PredictionStrike also plans to leverage the platform's data analytics to help athletes and everyone in the business of sports make more intelligent business decisions. PredictionStrike can provide intelligence about how popular athletes are and where they are popular down to the individual level, in real time. This will be crucial information for athletes, agents, sports retailers, ticket sellers, and anyone who wants to use fan analytics in their decision making.

Over the next couple of weeks, the PredictionStrike team will be releasing a long list of new updates to the app and web interface, in preparation for an influx of new users throughout the NFL season. In the next few months, fans and users can look forward to the launch of UFC athletes, shortly followed by MLB, European Soccer and NCAA athletes. Around the same time, athletes, leagues, and organizations can look forward to the rollout of PredictionStrike's data offerings and features, which will continue to build further and further on the athlete-fan engagement aspect, especially as leagues struggle to maintain/grow viewership and foster fandom amongst the younger generations.

"We envision PredictionStrike's share prices being used as a key metric whether discussing athletes on the field, in the boardroom or in the media," said Chabra. Ultimately, the team envisions PredictionStrike as the central hub for the fan/athlete relationship. Sports updates will be accompanied by stock prices, and any time a fan hears something about an athlete, their first thought will be "How does this affect my portfolio?"

www.predictionstrike.com