Following Strong Quarterly Earnings, TheScore Raises $15 Million

Posted by Techvibes NewsDesk

Toronto-based TheScore announced this week that it has raised a $15 million financing round.

The funding will be used to support the ongoing development of the Canadian company’s flagship mobile sports app “theScore” and the expansion of sales and marketing efforts and for general corporate and working capital purposes.

Participating investment firms include Levfam Holdings, Relay Ventures Fund II, and Relay Ventures Parallel Fund II.

The deal is expected to close by May 7.

TheScore's revenue during its last fiscal quarter was $1.9 million, compared to $1.1 million for the same period the previous year—an increase of 73%. Six-month revenue was up 54% year-over-year. Mobile revenue rose 143%.

Company:
theScore, Inc.
Website:
http://corporate.thescore.com/
Location:
Toronto, Ontario, Canada

theScore’s mission is to provide a full digital service to sports fans, delivering a personalized user experience across all major mobile platforms through our mobile apps and website. Users are provided with a comprehensive, customizable service that dispenses real-time sports news, scores, fantasy information and alerts, alongside compelling, relevant content that allows for seamless social sharing by users.... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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