NBA gets StellarAlgo equity share in strategic partnership

From SportsPro

The National Basketball Association (NBA) has signed a multi-year strategic partnership with StellarAlgo that sees the league acquire an equity share in the data analytics startup.

Contract:

NBA franchises get access to consumer experience data
Analytics cover venues, ecommerce, social media, and marketing
StellarAlgo Plays platform will allow teams to launch personalised marketing campaigns
Financial terms were not disclosed, but the league said its NBA Equity investment arm’s involvement in the company is ‘meaningful’

Context:

In 2021, the Canadian startup raised US$16.5 million in funding to further develop its platform and double its workforce. StellarAlgo’s new league-wide agreement builds on its existing NBA partnerships with the Brooklyn Nets, Milwaukee Bucks, Portland Trail Blazers and the Sacramento Kings.

Comment:

David Lee, head of NBA Equity, told Bloomberg: “We saw great potential for growth and it excited us. “The fan experience is the most important part of the deal.”