The investment will be used to drive expansion across Asia, including priority markets China, India, Singapore, Indonesia, Thailand and Vietnam, besides Europe, South America and the US. The capital will also be used for driving partner and user acquisition.
Founded by Singapore-based MyHero, SportsHero is the new incarnation of FootballHero; it was rebranded to include a broader sporting focus.
It is a gamified social sports prediction platform where users can predict, interact and compete on all major sports – virtually, and in real-time – to become a SportsHero. Fans can interact with fellow sports fans on the SportsHero network in a number of ways to make any game more interesting and competitive. Top-ranked sports fans are included on its leader board, and they are eligible to win daily, weekly and monthly prizes in conjunction with its brand partners.
Brands can tap SportsHero to engage its user base, opening official accounts with sponsored content.
The app will also feature in-app virtual currency available via SportsHero Points and Golden Tickets, exchangeable for merchandise, event tickets, and other items on SportsHero.
Sports included in the app at launch are football (soccer), and baseball (Major League Baseball), with Tennis, American Football (National Football League), and Basketball (NBA), with hockey (NHL) in development. Particular emphasis will be placed on local leagues and teams, with a view to building the overall sporting culture and ecosystem in each market.
Dinesh Bhatia, CEO and Co-founder of SportsHero, said, “We have seen very promising success and engagement with TradeHero (a finance app from the company) in gamifying financial learning and stock trading, driven by community engagement. There’s a very strong correlation between finance and sports – we saw the opportunity to replicate this success with SportsHero, tapping into the fast growing Asian and global e-sports markets. The vision is to be the number one social network dedicated to sports in the world. We will do this by helping fans and brands monetise their passion for sports through SportsHero.”
Over the next 12 to 18 months, SportsHero plans to roll out support for additional sports including golf, table tennis, and badminton. The app will continue to be focused on making more people enjoy games, matches, and competitions by getting them more involved in predicting the outcome based on social sentiment on the platform, as well as personal sentiment – all within a fun and engaging environment.
SportsHero looks to accelerate its listing on the Australian Securities Exchange (ASX) by August 2016 via a reverse takeover of Nevada Iron.