Sportgenic on Monday announced that it has secured $10 million in Series B funding from Adams Street Partners, Louie Partners, KPG Ventures, and Greycroft Partners.
Originally launched in 2005, Sportgenic competes in the highly targeted world of sports advertising. The company is a sports ad network that aims at connecting some of its major clients like Nike and Toyota to sports enthusiasts, across 350 niche sports sites like BMX-Forum.com, CollegeSwimming.com, and Ironman.com. It claims to reach 20 million unique visitors per month across the sites where it places ads. That’s a decent size in the sports category, but doesn’t even crack the top 50 in terms of ad networks as a whole.
With $10 million more in the bank and a handful of new additions — it added two members to its board and a new senior vice president of sales — Sportgenic improving its game. But will sports advertising be enough?