Sportradar Group, which provides products and services to the sports betting industry, filed on Tuesday with the SEC to raise up to $100 million.
Sportradar states that it is the #1 provider of business-to-business solutions to the global sports betting industry by revenue, providing mission-critical software, data and content via subscription, and revenue share arrangements to betting operators, sports leagues, and media companies. For its 900+ sports betting operator customers, Sportradar covers over 750,000 events annually across 83 sports, including live data coverage of 600,000 events across 37 sports. In the US market, the company is the #1 provider of data to bookmakers, supplying sports data to over 85% of all bookmakers in the US. For its 150+ sports league partners, Sportradar provides access to over 900 sports betting operators and over 350 media companies to distribute their data and content globally. For its 350+ media customers including both traditional and digital leaders, the company provides products and services to help reach and engage sports fans across distribution channels.
The St. Gallen, Switzerland-based company was founded in 2001 and booked $576 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol SRAD. Sportradar Group filed confidentially on February 19, 2021. J.P. Morgan, Morgan Stanley, Citi, UBS Investment Bank, BofA Securities, Deutsche Bank, Jefferies, and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
