StellarAlgo, a Calgary, Canada-based leading customer cloud platform for the sports and live audience industry, announced a $16.5 million Series A funding round led by Toronto-based Carallas Holdings.
Other new investors include Newbound VC and Bleacher Report founder Dave Finocchio. The round also included follow-on investment from existing shareholders Accelerate Fund II, Bluesky Equities, and InterGen Capital. To date, StellarAlgo has raised $19.0 million.
Funds will be used to continue the growth of StellarAlgo’s cloud-based solutions, which help sports and live event organizations monetize their live audiences using insights-driven sales, marketing, and analytics tools.
StellarAlgo will also use this capital to expand its offering to foster partnerships with the brands supporting these teams and leagues while extending their presence by opening headquarters in both the United States and Europe.
Company: StellarAlgo
Raised: $16.5M
Round: Series A
Funding Month: November 2021
Lead Investors: Carallas Holdings
Additional Investors: Newbound VC
Company Website: https://stellaralgo.com/
Software Category: Customer cloud platform
About the Company: Founded in 2016, StellarAlgo is the leading customer cloud platform for the sports and entertainment industry, serving live audience organizations in North America and Europe, including enthusiast brands, sports teams, sponsors, and live events properties. With the most modern Data Warehouse offering on the market underpinning its flagship Customer Data Platform (CDP), industry professionals use StellarAlgo’s customer cloud platform to connect and engage with fans on a personalized level never before seen in the industry. Backed by proprietary machine learning technology trained on over 40-billion interaction data points across more than 100-million unique records. StellarAlgo is headquartered in Calgary, Canada
Source: https://stellaralgo.com/blog/2021/11/10/stellaralgo-raises-16-5-million-series-a/