Giannis Antetokounmpo is on the money!
The NBA star joined as a strategic partner for a Series B investment round totaling $27 million for sports media startup Wave Sports + Entertainment, according to a press release. The seed round was led by private equity firm TZP Group. Crossbeam Venture Partners, GPS Investment Partners, Verance Capital, Nimble Ventures, existing investors and more also participated in the round.
“WSE is leading the shift to creating digital superfans by engaging audiences where, when, and how they want to consume sports content,” said Shamit Mehta, Partner at TZP Growth Equity, according to a press release. “We believe athletes, leagues, and companies will have a new way to connect with younger audiences through WSE’s successful brands.”
How The New Funding Will Scale Wave Sports + Entertainment
Wave Sports + Entertainment plans to use the funds “to accelerate the launch and scale of new and existing media brands, talent-led original shows, and premium programming geared towards today’s highly-engaged superfans,” according to a press release.
In addition, the platform will create sports betting content, consumer products, new personalized interactions for fans, and revamp its content management and analytics platform.
“Sports storytelling is timeless, and this simple concept is at the heart of WSE’s vision,” said Brian Verne, Co-founder and CEO, WSE, in a press release. “WSE represents the future of sports and entertainment for an entire generation of new fans. We are evolving legacy sports media by creating content that resonates with today’s audiences and that is designed for the digital formats where they spend most of their time.”
Wave Sports + Entertainment also announced Rich Battista will join the team as Executive Chairman of the Board of Directors of the company.
“WSE has a thorough grasp on the rapidly evolving media consumption habits of younger sports fans, making it uniquely positioned to reshape sports media for the next generation. I look forward to working alongside Brian and his team to guide WSE to its fullest potential,” said Rich Battista, according to a press release.