I’m excited for sports technology in 2024. There will be attractive deal flow for VCs in 2024. The number of U.S. VC led deals should increase in 2024 because VCs will be able to capitalize data. The hurdle for startups to secure venture financing has risen significantly. Below are five categories that will be the focus in 2024 and examples of raises in those categories.
Performance Analytics
Performance analytics touches are at the fore front of every league, team, and organization. As data becomes currency in sports. Wearables such as data tracking advances by Garmin, smart clothes, and the ability to predict injury risk.
An example of a recent raise in this category is Sportable. Sportable specializes in utilizing Micro-Tracking (MT) technology to enhance data collection and analysis—primarily in ball and contact sports like rugby, soccer, and American football.
2. Fan Engagement
Teams are constantly looking for ways to reach their core fans and to affect younger and more casual fans. Fan engagement startups allow teams to build relationships and loyalty with fans.
An example of fan engagement is Dust Identity Inc. who raised $40M in December
3. Sports Streaming
Sports broadcast look increasingly than they have in the past decade. Amazon’s Thursday Night alternative broadcast showcases live data and predictions. Sports Betting has slowly crept into the broadcast with companies like Genius Sports (our podcast with Genius Sports), and teams are looking to create their own streaming solutions.
An example of new streaming opportunities is the new Clipper Vision
4. Immersive Experiences
AI dominated the 2023 tech scene. Virtual reality is being used to help athletes train. Oculus and Apple are bringing VR sports viewing to the our couches. The ability to provide athletes and consumers with realistic sight, sound, touch, and simulating stadium sound.
An example of this is Sports Pro VR
5. Womens Sports
Women’s Sports have dominated lately as viewership across soccer, basketball, and volleyball have exploded. Research found that fans of women's sports (FOWS) are more likely to purchase from brands associated with women's sports teams/female athletes, highlighting ROI potential for investing in women's sports media and content.
An example of the looming investment into Women’s Sports is Monarch Sports
I can’t wait for 2024 in sports technology and the new advancements that will shape the sports landscape!