The Game Day, a digital sports media business focused on delivering content to sports fans and sports bettors, has secured $4.5m in Series A financing.
The business did not reveal the identities of the investors but did confirm that the round featured a number of leading sports media and online gaming investors, as well as seven returning investors.
The Game Day said it will use the capital to support its growth strategy, including commissioning additional talent, introducing new content formats, driving increased conversions and pursuing opportunities for monetization via new revenue streams.
Founded remotely in 2020, The Game Day now employs more than 50 staff at its New York office and has amassed more than four million network followers, averaging more than 150 million monthly impressions.
The business also recently expanded into the online casino space through the launch of its new TheGameDayCasino.com service.
“The Game Day has seen tremendous growth this past year and we are thrilled to continue to charge forward and drive our business to the next level,” The Game Day co-founder and chief executive Matt Heiman said.
“This funding and the support of our investors will allow us to increase our scale and engagement and will unlock additional opportunities for monetization and audience conversion through our affiliate partnerships with major sportsbook operators, our content, and our commitment to drive innovation in the sports media space.
“With the rise of legalized sports betting now piquing the interest of a swathe of market-leading investors, and the sports gambling industry’s desire to invest in sports betting content properties, The Game Day finds itself ideally positioned between the sports media and online gambling spaces to deliver meaningful audience scale at a particularly crucial time in the industry’s life cycle.”