Mobile sports application company 365Scores has raised $5.5 million in a financing round from LETA Capital, Cedar Fund, Titanium Investments and private investors. The firm also announced it has exceeded 5 million Android installs worldwide.
Delivering high levels of mobile engagement, 365Scores alerts sports fans to the most important moments of their favorite teams and players by sending over 2 billion push notifications to their users each month. This week the company has also launched a 365Scores tablet version for Android which is available on Google Play.
With the investment proceeds, the company will focus on expanding the social environment for its millions of sport fans.
365Scores has also just released a social feature on all devices (iOS and Android), which aims to bring together fans from all over the world into the same “Virtual Stadium”, allowing them to communicate in real time and share their views, analysis and emotions before, during and after the game. Fans can react to: teams’ line-ups, goals, touchdowns, home runs or fouls, as if they were in the stands. It also allows them to interact with and see photos that the fans in the stadium are capturing. The 365Scores application creates a social media community where everyone feels like they are “there.”
LETA Capital Managing Partner Alexander Chachava who joins 365Sports board said, “With their proven consumer adoption at over 5 million Android users, 365Scores has already reached sports fans worldwide in 20 different languages. This is the sports app that all fans will demand. Israeli startups have a great track record of success and the 365Scores team has an impressive background in Big Data which gives us confidence that this company and their applications will deliver a great return on investment.”
Cedar Fund Partner Motti Vaknin said, “365Scores is becoming a phenomenon with strong user loyalty and high usage levels. 365Scores is doing something right in providing their worldwide audience a real time personalized mobile experience. We believe 365Scores will continue to deliver on all fronts."
Published by Globes [online], Israel business news - www.globes-online.com - on October 1, 2014
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