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%.