EdjSports, the sports subsidiary of Louisville-based EdjAnalytics, LLC, kicked off its $5 million Series A round last fall and has now closed the round oversubscribed.
EdjSports is known for its work with the NFL. Its predictive analytics models help coaches and teams make better calls. Founder Sean O’Leary told Louisville Future about the funding milestone.
“We began raising capital in the Fall of 2019 and were about 40% of the way to our goal when the pandemic hit. At that point, a number of local seed and angel funds came together resulting in the round becoming over-subscribed within 90 days,” he said.
This round of funding will primarily be used to amplify and market EdjSports’ new consumer subscription platform, targeting data-driven bettors, fantasy players, and fans who are looking for an edge. But the company will also be taking a more aggressive approach to its merger and acquisition strategy.
“We believe that intelligence wins,” O’Leary said. “Besides our fantastic team of data scientists working on new proprietary tools, we’ve also identified a number of businesses that could benefit from our resources and experience with taking products to market.”
One example is the recent acquisition of Football Outsiders, which is the gold standard in advanced football statistics.
“We’ve also built an exclusive partnership with Massey Ratings, resulting in best-in-class content and analysis for a wide range of global sports,” O’Leary said.