SA国际传媒

Sports league startup closed a $100 million Series D valuing the company at $500 million.

The new cash brings the total amount raised by the 6-year-old company to more than $250 million.

The round was led by and return investor . , , and were part of the round.

The company is also backed by several pro sports stars. More than 6% of active NBA players鈥攊ncluding and 鈥攈ave invested in Overtime, according聽 to the company.

Building a community

Overtime is trying to create a large sports community鈥攎ainly focused on Gen Z and millennials鈥攁round sports video and highlights on social media channels. The company takes videos of high school games from fans and posts them to accounts that have tens of millions of followers.

The company also has recently started to launch its own sports leagues鈥擮vertime Elite (basketball) and OT7 (football).

鈥淭his significant investment co-led by Liberty Media, who has fostered the explosive growth of Formula 1, is a real validation of the disruptive sports IP that we have created over the past year,鈥� said co-founder and CEO in a . 鈥淥ur investors, new and previous, see the massive growth potential of Overtime Elite and OT7, both of which have developed hyper engaged audiences, as well as the potential for future sports leagues as well.鈥�

Overtime says it currently has more than than 65 million followers and its content receives more than 2 billion video views each month. The company plans to use the new proceeds to grow both OTE and OT7, the creation of other new sports leagues, and grow its e-commerce and Web3 presence.

Before he co-founded Overtime with ,听Porter served as head of digital at (WME).

Illustration: Dom Guzman