Sports stats start-up aims to be “Bloomberg terminal of betting”
StatShark is raising $5m and will enter the betting space next year with its predictive analytics platform
DFS stats platform StatShark has pledged to become the “Bloomberg terminal of sports betting” by offering predictive player statistics across multiple sports.
The start-up launched the first iteration of its platform in Q3 19, before adding NBA stats and new functions in Q4 19.
Early next year it will roll out a real-money betting platform and in 2021 will expand to other betting markets globally.
It expects to capture up to 3% of the DFS analytics market by next year with projected profits of $20m.
The subscription-based platform is estimating it will have 15,700 subscribers by the end of 2020 and will enable users to personalize profiles and build unique graphs with stats specific to their interests and bets.
StatShark claims to be different to other subs-based analytics apps by offering historical data access, custom analytics, raw league data, dynamic charting and probabilistic determination.
Shawn Sullivan, COO of StatShark, said the firm was creating actionable information for bettors by converting raw sports data into custom analytics.
StatShark raised $2m in its first funding round from a consortium of investors based in Hong Kong and is seeking an additional $5m for growth, marketing and early entry into the betting market.
StatShark’s founder and CEO Trip Ives is a former Wall Street quant.