Minneapolis startup Sport Ngin has received an additional $4m strategic investment from Mankato-based Taylor Corporation and spanish language television network Univision, according to co founder and CEO Justin Kaufenberg.
Considering the recent close of $25m, this infusion brings their Series D total financing to $29 million and a cumulative $39m of capitalization.
This investment and — perhaps more importantly — the business relationships will help strengthen Sport Ngin’s foothold in the basketball and soccer markets, and with U.S. Hispanics. The Univision partnership will create immediate value as the NGIN platform begins to power the Copa Univision soccer tournaments, the fastest growing amateur soccer event in North America.
“These two investors understand the market opportunity at the intersection of media and sports,” Kaufenberg explains.
“Taylor Corporation helps businesses and individuals communicate their messages and build memorable brands. That is our goal at Sport Ngin in the youth and amateur sports technology market. We are thrilled to be able to leverage the Taylor network that is owned by Glen Taylor who also owns the Minnesota’s Star Tribune newspaper, the Minnesota Lynx, and is Chairman of the NBA Board of Governors through his ownership of the Minnesota Timberwolves.”
He added that “Univision gives Sport Ngin the ability to tap into the popularity of soccer and the rising influence of the Hispanic community in the US is the leader in this space.”