Buzzer Raises $20M to Expand Sports Streaming Platform

The sports streaming startup Buzzer Technology Inc. raised new funds and has begun discussions with teams, leagues and networks to open up its platform for licensing agreements.

The 20 million dollar round was led by venture capital firm Sapphire Sport, joined by ID Fund, NewBound Ventures, and Lerer Hippeau Ventures Management.

Kevin Durant, tennis player Nick Kyrgios and football player Myles Garrett are among the new athletes who have invested. The company now has a total of more than $44million in funding. 

“The strategy here is to work with the biggest rights holders,” Buzzer founder and Chief Executive Officer Bo Han said in an interview. “It’s been very clear that we should no longer be confined to our mobile app.”

Buzzer burst onto the sports scene in 2021 with backing from legends like Michael Jordan and Wayne Gretzky while negotiating deals with the NBA, NHL and PGA Tour. Its app aggregates streaming rights so users can set alerts across several sports and tune in to live game action in real time.

Women’s basketball player and social media star Sabrina Ionescu is also an athlete investor.

The fresh capital will be spent on the new licensed offering, Powered by Buzzer, which includes all the technology developed for Buzzer’s own app. Management hopes the product will be the “operating system for live sports on mobile” and is in talks with potential partners.

Sports leagues, teams, and broadcasters are trying to adapt to younger viewers who prefer viewing shorter clips on their phones instead of sitting through entire matches.

Team owners who have put money behind Buzzer include Steve Pagliuca from the Boston Celtics, the Tampa Bay Lightning’s Jeffrey Vinik, and Joe Lacob from the Golden State Warriors.

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