Accelerate Fund II invests further in StellarAlgo as they grow fan engagement
Calgary, AB, November 10, 2021 – After StellarAlgo defied the odds with continued growth as the pandemic shuttered live events, Accelerate Fund II today announced a follow-on investment into the Calgary-headquartered company that helps the sports and entertainment industry engage live fans with its customer cloud platform. This investment is part of StellarAlgo’s $16.5 million Series A funding recently announced.
Accelerate Fund II originally invested in StellarAlgo in July 2020 as part of a $1.5 million seed financing. StellarAlgo has more than doubled their business every year since its platform launched in 2017.
More than 85 sports franchises, enthusiast brands, and live audience properties and sponsors throughout North America and Europe use StellarAlgo’s suite of products to implement a data-driven, personalized approach to connect and engage with fans, and maximize the lifetime value of their fan universe. StellarAlgo’s partners, including the MLB’s New York Yankees, the NBA’s Milwaukee Bucks, the NHL’s LA Kings, and the US Open Tennis Championship, all draw upon StellarAlgo’s machine learning capabilities to better understand their fans and drive both loyalty and revenue.
“This funding represents a major milestone for our company and will significantly advance the industry’s ability to monetize fan bases through digital channels,” said Vincent Ircandia, founder and CEO at StellarAlgo. “Sports and live audience organizations around the world are grappling with a rapidly evolving fan, and we make it possible for these properties – and their partners – to connect with and convert the world’s most passionate audiences.”
StellarAlgo will use its latest investment to continue the expansion of its cloud-based solutions and double its workforce over the next 12 months. StellarAlgo continues to hire best-in-class data engineers, customer success, product development, sales and marketing team members. The company is also set to open new headquarters in the United States and Europe.
“StellarAlgo’s resilient growth comes from leading the industry in using data to predict how to best engage live sports and entertainment fans whose behaviour was in shift even before the pandemic,” said Arden Tse, Investment Manager, Accelerate Funds. “It’s fantastic to see the company continuing to grow and have such an impact in Alberta, North America and soon globally.”
Founded in 2016, StellarAlgo is the leading customer cloud platform for the sports and entertainment industry, serving live audience organizations in North America and Europe, including enthusiast brands, sports teams, sponsors, and live events properties. With the most modern Data Warehouse offering on the market underpinning its flagship Customer Data Platform (CDP), industry professionals use StellarAlgo’s customer cloud platform to connect and engage with fans on a personalized level never before seen in the industry.
Backed by proprietary machine learning technology trained on over 40-billion interaction data points across more than 100-million unique records, StellarAlgo’s customer cloud platform enables industry professionals to predict and understand how fans engage with their favorite properties while implementing a fan-centric approach that maximizes the lifetime value of their fan universe – it’s the reason more than 85 major and minor league sports franchises, entertainment, and live audience organizations put the StellarAlgo platform at the core of their operations. StellarAlgo is headquartered in Calgary, Canada. For more information, please visit stellaralgo.com.
About Accelerate Fund II
Accelerate Fund II is an early-stage angel co-investment fund in Alberta. In May 2020, a follow-on Fund III was announced. Accelerate Fund co-invests alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, clean and energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund II and III are managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead Limited Partner with a total of $15M invested into the fund. www.acceleratefund.ca
See StellarAlgo’s press release.
Accelerate Fund II