TAPPP Secures $5 million Series A Financing led by ADvantage Sports Tech Fund
Sep. 05, 2018
NEW YORK--(BUSINESS WIRE)--Sep 5, 2018--TAPPP, a New York based pre-paid platform enabling global access to premium live sports content, announced today it has secured $5 million in Series A financing, led by leAD Sports/OurCrowd’s ADvantage Fund. The financing also includes the backing of a number of leading venture capital firms and sports technology investors, including Accomplice, Elysian Park, Go4it, Courtside VC and Sterling.VC.
This past April, TAPPP launched its flagship product, an exclusive pre-paid card offering access to the MLB.TV streaming service offered by Major League Baseball. TAPPP cards are currently available at over 5,000 retailers including Walmart and Gamestop, providing live sports access directly to any consumer device. This new platform not only serves the millions of U.S. sports fans who are unable to acquire credit cards, but also the rising generation of young consumers who are shunning credit cards in favor of smarter payment options.
TAPPP’s team has over 20 years of experience in developing and scaling pre-paid card management platforms, and is gearing up for significant growth. "TAPPP is changing the way fans can consume sports content by giving them unprecedented flexibility in how they watch their favorite teams and players,” said Sandy Agarwal, TAPPP’s Founder and CEO. “Together with this strong group of sports investors, we're excited to begin this journey by MLB games to a large and often overlooked consumer group." Agarwal added that, with this funding round, the company's long-term strategy is to expand to 100,000 retail outlets and to bring new sports media products to consumers through league partnerships.
The Series A funding round was led by ADvantage, a global sports tech venture fund. ADvantage is managed as a partnership between leAD Sports, which runs a one-of-a-kind sports entrepreneurship and investment platform initiated by the grandchildren of Adi Dassler, and global hybrid venture capital platform, OurCrowd.
“ADvantage believes that TAPPP can drive innovation in an exciting new category,” said Jeremy Pressman, Partner at ADvantage. "TAPPP is a perfect fit for ADvantage's debut fund. Its approach to serving untapped viewer segments through a combination of traditional payments and an innovative, on-demand viewing experience, is unique and creative. We at ADvantage are thrilled at the opportunity to leverage our deep connections in the sports market to broaden TAPPP’s reach even further."
As part of the financing, Jeremy Pressman has joined TAPPP's Board of Directors.
TAPPP is revolutionizing the digital content space by empowering premium content providers to connect with consumers via innovative prepaid card solutions that serve the evolving needs of today’s rising generations. Starting with MLB.TV and the NFL, Tappp makes it easy for consumers to access professional sports games and other digital services with flexible cash options and no long-term commitments. Tappp is currently available at thousands of retail outlets and online merchants including Walmart and Game Stop. To learn more about TAPPP, visit www.tappp.com
ADvantage invests in early-stage technology companies aimed at shaping the future of sports. ADvantage is backed by leAD Sports, an initiative spearheaded by the grandchildren of Adi Dassler to further sports innovation, and global hybrid venture capital platform, OurCrowd. ADvantage is leveraging a strong global network to source leading opportunities in the spaces of fan engagement and experience, connected athletes and communities, and derivative sports (eSports, fantasy, and new sports). Led by serial entrepreneur and accomplished venture builder Christoph Sonnen and venture investor and professional athlete Jeremy Pressman, ADvantage is targeting a diversified portfolio of 15 startups from around the world. For more information visit: https://www.advantagesportsfund.com
For Press Materials: http://blog.ourcrowd.com/tappp/
View source version on businesswire.com:https://www.businesswire.com/news/home/20180905005139/en/
CONTACT: Press :
Leah Stern, +44 747 019 6826
Director of Communications
Fernanda Bartels, +49 15252 434892
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT OTHER SPORTS TECHNOLOGY OTHER ENTERTAINMENT CONSUMER ELECTRONICS INTERNET SOFTWARE AUDIO/VIDEO MOBILE/WIRELESS ONLINE SPORTS BASEBALL
Copyright Business Wire 2018.
PUB: 09/05/2018 10:00 AM/DISC: 09/05/2018 10:01 AM