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Greenfly secures $14m investments from sports tech brands

April 8, 2024

Greenfly, the leader in powering short-form content workflows for sports, media, and other brands have announced the closing of equity investments of $14 million led by global sports tech investor ADvantage, with participation from Ryan Sports Ventures, Mercato Partners, and NBA Equity. Existing investors Verance Capital, Iconica Partners, Alpha Edison, Elysian Park Ventures and others also joined in the oversubscribed financings.

The Greenfly Platform is core infrastructure for short-form content operations, allowing the world’s largest sports and entertainment organizations to create, aggregate, collect, organize and distribute short-form content throughout their ecosystem – connecting sports leagues with teams, athletes, broadcast partners and sponsors for collaborative content activation.

“Greenfly has solidified their standing as the core short-form content infrastructure in sports and media. Their technology is already propelling these industries forward and capitalizes on one of the biggest content opportunities since the advent of cable and widespread sale of broadcast media rights,” ADvantage founding partner Jeremy Pressman said. “We are still in the early innings of effectively monetizing short-form content, and Greenfly is uniquely positioned to capitalize on this fundamental shift in consumption patterns globally.”

Greenfly onboarded over 40 partners across the globe in 2023 alone. The company also made multiple strategic hires including bringing on board a new chief financial officer, chief revenue officer, and managing director for EMEA, as well as executing its first acquisition, purchasing Miro AI, the leading contextual analysis platform for sports content. Mercato Partners’ investment came from a dedicated sleeve earmarked for pioneering AI technology, inside its latest $400M growth fund.

“Most video consumed around the world in the past year was short-form content on platforms like YouTube Shorts, TikTok, and Instagram Reels,” Greenfly CEO Daniel Kirschner said. “Sports organizations as well as their entertainment counterparts now understand that short-form content is not simply social content that can serve as marketing for core experiences. It is a core experience itself – for many fans, a primary experience – and creates opportunities for meaningful monetization. Last year was the fastest period of growth in our company’s almost ten-year history. This funding will help us continue to unlock powerful strategic relationships and give us the resources we need to supercharge our continued growth.”

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