ScoreStream scores $2 Million to win the local sports game

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Sinclair Broadcast Group leads Series Seed Financing

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ScoreStream Inc. has announced the completion of a $2 million dollar Series Seed financing led by Sinclair Digital Ventures, a division of Sinclair Broadcast Group. ScoreStream will use the proceeds from the financing to expand the company’s crowdsourcing platform, which provides real-time local sports scores, photos and conversations to consumers and leading television, newspaper, radio and Internet properties.

“Sinclair is an ideal partner and investor for ScoreStream given its distribution scale, in-house technical expertise, dedication to local sports, and its commitment to the digital transformation of media,” stated Derrick Oien, CEO of ScoreStream. “We’re excited to be working with Sinclair in a way that will grow our business and enhance our products.”

“ScoreStream is a prime example of the type of investment in which we are focused,” commented Rob Weisbord, Chief Operating Officer, Sinclair Digital Group. “ScoreStream will be utilized for enhanced coverage of our high school sports via our local news and ASN broadcasts and our websites, providing our communities instant access to information about their favorite schools and teams. Sports will be a continued focus for both Sinclair Digital and Sinclair Digital Ventures.”

In addition to Sinclair Digital Ventures, previous investors Avalon Ventures and New Enterprise Associates participated, along with several angels from Baltimore and Los Angeles. Prominent Baltimore-based angels include Sagamore Ventures; the investing arm of Kevin Plank, founder & CEO of Under Armour and Paul Palmieri, co-founder and former CEO of Millennial Media.

“ScoreStream is leveraging the wisdom of the crowd to turn social signals into valuable new digital content resources,” said Paul Palmieri. “I am delighted to partner with this proven team as they accelerate the growth of this compelling technology platform.”

About ScoreStream:

ScoreStream crowdsources sports scores, photos, chat and more, empowering fans and media alike to engage local sports like never before. ScoreStream, Inc. is a privately held Delaware corporation headquartered at the EvoNexus incubator in downtown San Diego, CA. For more information, please visit http://scorestream.com, or contact press(at)scorestream(dot)com.

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Derrick Oien
ScoreStream
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since: 02/2011
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