Given the scale and the players involved, here’s a noteworthy raise out of the valley — Hunt Valley, that is.
A venture group recently launched by Sinclair Broadcasting Group lead a $2 million seed round for ScoreStream. As a result, the giant telecommunications company will use ScoreStream’s crowdsourcing platform for high school and local sports scores and photos. The San Diego-based startup will use the money to expand its offerings.
Maryland-based New Enterprise Associates was already an investor in ScoreStream before the deal was announced this week. With the seed round, the global VC firm’s recently-appointed venture advisor Paul Palmieri signed on as an angel investor.
“ScoreStream is leveraging the wisdom of the crowd to turn social signals into valuable new digital content resources,” Palmieri, a cofounder and former CEO of Millennial Media, said in a statement. “I am delighted to partner with this proven team as they accelerate the growth of this compelling technology platform.”
Also among the angel investors is Sagamore Ventures, which is Under Armour CEO Kevin Plank’s investment firm. While his company has been making big tech plays of its own, this is the second time Plank’s separate investment arm has surfaced as an angel investor on a deal this year. In February, Sagamore was among the investors in UrbanStems, a D.C.-based flower delivery service, our sister site Technical.ly DC reported.
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