StellarAlgo Raises $1 Million to Bring Analytics to Pro Sports
Athletics and tech platforms don’t often interact as much as some other sectors, but when they do it can create huge opportunities for companies to take advantage of the massive professional sports industry.
StellarAlgo has raised a $1 million investment round from the Accelerate Fund II Limited Partnership as well as several prominent angel investors including James Lochrie, the co-founder of Wave.
The Calgary-based StellarAlgo is a SaaS data analytics platform that helps sports and entertainment organizations make the most out of their customer engagement efforts. These teams and groups already collect huge amounts of data on their customer base through methods like ticket sales and social engagement, but they still can’t react fast enough to take advantage of every opportunity. That’s where StellarAlgo comes in.
The company can work with NHL, NBA, MiLB, and MLS teams to optimize pricing decisions, optimize retention, and find new ways to grow the customer base, all in an effort to improve the organization’s ROI. StellarAlgo’s platform can even work its capabilities into other live audience scenarios such as museums and concerts.
“StellarAlgo is a leader in live ticket analytics, helping sports organizations optimize the value of their audiences,” said Lochrie, an angel investor in StellarAlgo. “In a very short time the company has added some of the biggest names in the industry as customers. Vince and the StellarAlgo team have created a product that facilitates regular and ongoing engagement with their customers’ target audiences and buyers. The rapid adoption by the industry has proven the value of the product.”
New capital will go towards scaling the sales and growth teams, thereby adding more professional sports clients to their list. StellarAlgo will also look to build out their platform to offer better predictive modelling and forecasting of ticket sales.
StellarAlgo already has some A-list clients, including the Portland Trail Blazers, the Vancouver Canucks, the LA Galaxy, and the US Open for tennis. The founder of the company, Vincent Ircandia, previously worked with data at sports organizations including a few of the company’s current clients.
