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StellarAlgo Raises $1M Investment Round(June 20, 2018)
Business intelligence platform helps professional sports teams better market to fans and drive ticket sales
CALGARY, Alberta, June 20, 2018 (GLOBE NEWSWIRE) -- StellarAlgo, a SaaS data analytics company that helps sports and entertainment organizations maximize the engagement and lifetime value of their customers, is pleased to announce that they have raised a $1M investment round. This is the first significant raise for StellarAlgo. Investors for this round include the Accelerate Fund II Limited Partnership and several prominent angel investors, including James Lochrie.
While professional sports teams and entertainment businesses already amass data on their fans, they miss out on opportunities because they are unable to analyze, predict, and react fast enough. StellarAlgo accelerates the ability for their customers to identify and act on retaining and capturing fans, and effectively pricing promotions for their most passionate followers.
StellarAlgo’s data platform helps sports franchises from leagues like the NHL, NBA, MiLB, and MLS to quickly and effectively capitalize on the massive amounts of business and fan data they collect. The platform offers the same capabilities for live audience and entertainment groups including museums and concerts.
This capital raise will allow the company to scale its sales and growth strategy, significantly expanding its existing client base of professional sports teams and entertainment organizations. It will also help StellarAlgo extend its advanced analytics offerings to include better predictive modelling and forecasting of ticket sales opportunities.
Their proprietary algorithms help optimize pricing decisions, maximize customer retention, and find and grow new customers to generate significant ROI in revenue and fan engagement. StellarMoments™, a machine learning-powered notification system, helps identify and prioritize opportunities as they occur so organizations can connect with customers at just the right time.
StellarAlgo’s platform is used by professional sports teams and organizations such as the Portland Trail Blazers, the Vancouver Canucks, the LA Galaxy, and the US Open Tennis. The company was founded by Vincent Ircandia, who previously built and led customer data teams at AEG Sports, the LA Kings, and the Portland Trail Blazers.
“StellarAlgo is a leader in live ticket analytics, helping sports organizations optimize the value of their audiences. 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,” said James Lochrie, co-founder of Wave Accounting and founder of Exhibition Capital.
For more information on StellarAlgo, please visit www.stellaralgo.com.
heidi at theagencyinc dot ca
+1 403 399 2514
StellarAlgo's proprietary customer data platform allows organizations to easily collect, organize, and drive insight to maximize the engagement, affinity and lifetime value of their customers. StellarAlgo is uniquely positioned to help organizations quickly and cost-effectively organize, analyze and leverage the data they need to make successful business decisions. The company works with professional sports teams in the NBA, NHL, MiLB, MLS, and the US Open Tennis. They also have customers in the live entertainment sector including the MoPOP.