Ballislife is a well-known lifestyle media and basketball company that has announced today the close of a $2.7million round of fundraising. Oakvale Sports Investco, based in London, has led the Series A financing.
This puts the company at a pre-money valuation of $20 million. Historically Oakvale Capital has taken an interest in businesses within the gaming sector.
Sanford Loudon, an investment group partner, stated that they decided to take a chance on Ballislife due to the vision.
“Oakvale Ventures partnered with big names from the gaming industry like Johnny Hartnett, Paddy Power, and industry investors Amaury de Sadeleer of Mount Media and Gabriel Demirci of Growthbox Ventures,” said Loudon. “We’re excited about our investment into Ballislife as we believe it’s forged a unique position in the sports social media landscape with some of the highest quality content and event creation out there.”
Ballislife was founded in 2005 to promote basketball players. It has evolved from a “Mixtape outlet” to a respected company that sells basketball apparel, media, and manages events.
A rise in athlete-centered media paired with the legalization of NIL has created an optimal environment.
The company, based in Southern California, hosts events such as the Ballislife All-American Game and Ballislife Jr. All-American Camp. It is known for creating memorable experiences for basketball fans all across the country.
The company’s leaders are looking forward to monetizing the existing and expanding properties. This includes expanding their marketing partnerships and enhancing their athlete influencer network.
Matt Rodriguez, the founder and CEO of the company, stated that they have already strengthened their sales and creative teams with key hires like Susan Jaget (Sales Director) and Victor Bernedo (Creative Director) to propel their vision forward.
“My co-founder Arek Kissoyan and I started Ballislife with the help of our team literally from the ground up with no outside funding whatsoever,” said Rodriguez. “Now that the brand we’ve created has grown in popularity, we want to continue growing our team and building upon our legacy. I’ve always believed resources can help you make some good mistakes.”
Ballislife is looking forward to gaining more success through its sponsorship partnerships with industry-leading brands such as Nike, Red Bull, Amazon, Chime, and Adidas. The company experienced a more than 940% increase in revenue from partnership deals over the past year.
