Basketball Forever, a rapidly expanding and highly engaged independent sports media brand, recently disclosed the successful closure of its Series A funding round, amassing over $4 million USD. The fundraising was prominently spearheaded by Yolo Investments, with significant contributions from notable entities such as Astralis Capital Management, Andover Ventures, and influential individuals like Seth Young of FSG Digital, GMA Consulting, Paris Smith, a former CEO of Pinnacle Sports and current consultant in betting and gaming, alongside David Sargeant of iGaming Ideas, Chris Grove from Acies Investments, and Benjie Cherniak from Avenue H Capital. Following the establishment of its presence in North America, Basketball Forever is set to channel these funds towards bolstering its growth, aiming to capture a larger audience within the region, branching out into additional sectors apart from basketball, and enhancing its array of gaming offerings, both free and for real money.
Alex Sumsky, CEO and co-founder of Forever Network, expressed enthusiasm over the investment, highlighting its significance in underlining the company’s profitable trajectory and strategic expansion into sports betting and daily fantasy sports. Sumsky emphasized the investment’s role in facilitating exploration of new verticals, expanding the North American team, and refining the user experience to set the standard in the market.
Basketball Forever uniquely integrates its gaming operations with its content distribution, leveraging its website and social media platforms to engage users with a compelling second screen experience. This approach not only fosters a vibrant community atmosphere but has also demonstrated its effectiveness in attracting and retaining users, as evidenced by the success of Hot Hands, a live-action, free-to-play game launched during the NBA All-Star Weekend. The game attracted over 10,000 participants, who claimed upwards of 35,000 squares in its inaugural session. The company’s gaming portfolio, which includes V.O.A.T. and Streaker, is also set to expand with upcoming real-money game offerings.
Tim Heath, Founder and General Partner at Yolo Investments, commended Basketball Forever for its achievements in cultivating a vast and engaged audience and its innovative efforts to link this audience with its gaming products. Heath anticipates that Basketball Forever’s initiatives will not only cement its leadership in the sports betting market in North America but also serve as a blueprint for other media entities.
Established in 2015, Basketball Forever has evolved into a premier digital media platform, delivering extensive coverage of the global basketball scene. Originating in Australia, the company has organically grown its brand, now boasting a monthly audience exceeding 110 million unique visitors worldwide. With a Comscore’s Shareablee score that ranks it as the top sports publisher among millennials, Basketball Forever’s influence stretches far and wide. Despite its initial focus on the Australian market, the platform has a significant following in the United States, with 45 million unique monthly visitors and 4 billion impressions across all social channels in 2023.
