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News & Media
Jul 29, 2020
CPE News (7/29/2020) – StellarAlgo Corp. has raised $1.5 million in an extended seed round co-led by Accelerate Fund II and James Lochrie of Thin Air Labs, with participation from all existing investors and new investor InterGen.
Funding will be used to further enable live audience businesses to use data to power the engagement and return of the modern fan.
Founded by CEO Vincent Ircandia in 2016, Calgary based StellarAlgo’s proprietary customer data platform allows organizations to easily collect, organize, and drive insight to maximize the engagement, affinity and lifetime value of their customers.
StellarAlgo announced the closing of its initial $1 million seed financing with Accelerate Fund II, James Lochrie, and other private investors in June 2018.
STELLARALGO RAISES $1.5M TO ACCELERATE THE ABILITY TO ENABLE SPORTS TEAMS, LEAGUES AND SPONSORS TO UNDERSTAND AND ENGAGE THEIR FANS
THE ORGANIZATION WILL USE THE FUNDING TO GROW NEW PARTNERSHIPS WITHIN NORTH AMERICA AND ACCELERATE FURTHER DEVELOPMENT OF ITS INDUSTRY-LEADING CUSTOMER DATA PLATFORM
StellarAlgo is proud to announce the closing of a $1.5M extended seed round, to further enable live audience businesses to use data to power the engagement and return of the modern fan. This second round of financing was co-led by Accelerate Fund II and James Lochrie of Thin Air Labs, with participation from all existing investors. One new investor was added to that impressive list, InterGen, which reflects the role StellarAlgo is playing in diversifying Calgary’s economy.
Despite recent economic uncertainty, StellarAlgo continues to grow rapidly as sports organizations see the opportunity to use data to understand their fans. StellarAlgo’s growth in uncertain times highlights the needs teams, leagues, and sponsors have to understand customers on a deeper level. With live events disrupted, teams must now look to engage primarily through digital channels which makes it more important than ever for them to deliver personalized and relevant experiences. When fans are permitted to return next season, having more digital, attitudinal, and interest data available will help identify who is willing to come back and cheer in the stadium, while respecting those who aren’t. This investment round positions StellarAlgo to assist teams and address the changing landscape with timely new capabilities to support meeting the challenges ahead.
StellarAlgo is the only Customer Data Platform built specifically for the sports and live audience industry. The Platform integrates with the leading data sources used by industry professionals to automate the creation and enrichment of a single customer view. Founded in late 2016, StellarAlgo completed its seed raise in 2018 and has grown to serve over 50 customers with 180% percent year-over-year growth in 2019. Despite a turbulent 2020, StellarAlgo continues to secure new partnerships across various major and minor leagues and position itself as an essential technology for sports organizations who need to understand their fans more than ever.
“As sports teams size up how best to play again, likely without fans in the stands for the time being, getting a pulse on fan appetite for alternate experiences becomes increasingly important,” said Vincent Ircandia, StellarAlgo Founder and CEO. “We are dedicated to supporting our customers and the fans they serve and are investing in the capabilities needed to understand fans in this new, digital first world.”
Our goal is for sports organizations to have an intuitive and accessible view of their fans so they can nurture and grow those valuable life-long relationships. If you would like to learn more about how we partner with teams and leagues, visit our customer stories.
Read the article at Private Capital Journal