The Series D round of fundraising was led by ION Crossover Partners
AI-driven automated highlights company WSC Sports has raised $100 million (£73.6m) from its Series D fundraising round.
The round was led by ION Crossover Partners (ICP), with existing investors such as Intel Capital, O.G. Tech and Detroit Venture Partners (Dan Gilbert) also taking part.
The money will be used to boost the company’s growth plans, with expansion to new geographies, sports, and platforms such as OTT, NFTs, sports betting and more on the horizon. It will also hire 150 new employees at its head office in Israel, as well as regional offices in New York, Sydney, and London.
WSC Sports aims to allow its users to automate, customise, and scale their digital content efforts, with over 200 clients currently signed up - including the likes of the Italian Football Federation, Extreme E, and more. Over 3.4m highlights were created with its AI platform in 2021, and over 6,000 stories were created with its new WSC Stories product.
CEO and co-founder of WSC Sports Daniel Shichman said: “ICP will contribute from their vast experience working with growth stage technology companies as we continue our global expansion. Sports media rights owners are embracing new ways to connect with their fans and generate new revenue streams.
“With new consumption habits moving at a rapid pace, short-form video has become a key component in user acquisition, retention, and monetization and our new products that were launched during 2021 for broadcasters, OTT providers and sports betting operators demonstrate the scale and variety of use-cases our platform supports.”
Gilad Shany, ICP’s managing partner, who will be joining WSC Sports’ board of directors, added: “We have been following WSC’s progress over the last two years and found the team’s vision and execution highly impressive. Content is king, and we view sports content as one of the crown jewels of the digital age. WSC’s undeniable technology leadership is unlocking value for different stakeholders in the value chain. We look forward to taking part in the next chapter of WSC’s growth and innovation.”