Sports community platform Stadium Live secures $10M to expand its digital world for Gen Z

Stadium Live Studios, Inc., a digital world developer, announced a $10 million Series A investment round to fulfil its objective of delivering fantasy sports to a younger audience.

Canadian startup Stadium Live Studios
Stadium Live also has “Rooms,” a feature that’s currently in beta and allows fans to create a unique room with avatar items.

Kevin Kim and Paul Xu started the Canadian firm in 2020 with the purpose of gamifying sports fandom and creating a “digital playground” for Gen Z sports lovers.

Stadium Live is Set to Build the Digital World for Gen Z Sports Fans

Stadium Live, the company’s flagship product, is a sports community platform that allows users ages 12 and up to customise their own avatar, buy digital collectibles, gain XP points by drafting teams during live matches and sports streams, create a squad with friends, join daily live streams, polls, trivia, and chat with other players. To date, Stadium Live has attracted over 500,000 users.

KB Partners and Union Square Ventures led the fundraising. Given that, professional basketball player Kevin Durant’s 35 Ventures, French soccer star Blaise Matuidi’s Origins Fund, Dapper Labs Ventures, Position Ventures, Valhalla Ventures, 6th Man Ventures, Alumni Ventures, and Breakout Capital also participated in the round.

The fundraising significantly increases the company’s $3 million seed round from January 2021, increasing its post-money valuation to over $32 million.

You get to create rooms together about a certain topic that you’re into, and you have club owners that drop questions or trivia or threads

Gen Z sports enthusiasts are increasingly turning to social media and streaming services, while traditional sports viewing falls among this generation.

Kevin Kim, co-founder and CEO said,

“The sports industry has been really slow at adapting to a new generation of fans. The industry hasn’t found a good way to engage with them. And that’s what we’re trying to solve.”

With the additional funding, Stadium Live intends to hire product and technical staff to release more products that will increase user retention and monetization. Additionally, it will support the Android launch, scheduled for October or November 2022. Only iOS devices currently support the Stadium Live app.