Luxembourg-based private equity firm Wychwood Capital Partners has invested $1 million in Sportslobster.com. Based in the UK, Sportslobster is a sports social network.
LONDON–(BUSINESS WIRE)–Four months after its launch at Wembley Stadium Sportlobster.com, the sports social network, has secured a further $1,000,000 of funding to coincide with its September 2013 iPhone app launch.
The investment from Wychwood Capital Partners, a private equity firm based in Luxembourg has been secured after its soaring success since launch in April, with several hundred thousand users regularly enjoying the site.
Sportlobster is the first one-stop shop for sports fans, with the site bringing news, rumours, photos and videos, events scheduling, predictions and blogs into one online platform. So far the site is proving a hit with fans as well as celebrities, such as Michael Owen, Sky Formula One presenter Natalie Pinkham, and former Manchester United footballer Terry Gibson.
This latest backing will allow Sportlobster to graduate from a start-up to a business, according to co-founder and CEO Andy Meikle: “We’re especially pleased to have Wychwood Capital Partners on board as, on top of the funding, they bring a wealth of strategic assistance and development of start-ups to the table to take us on to the next level.”
Co-founder and COO, Arron Shepherd, adds: “The recent $1,000,000 is necessary because of the rate at which we’re growing. When we launched there were only three of us, now we’re a busy team of nearly 20 programmers and marketing professionals and this is all before we bring in a large commercial team in 2014 once confident our user experience is optimised.”
John Paul Keane, Managing Director at Wychwood said: “We regard Sportlobster as a ground-breaking, unrivalled platform for sports fans. We believe this is an excellent opportunity and we are delighted to partner with an exciting, dynamic and focused management team. We share the vision, allied to a real commitment to quality and success.”
Shepherd and Meikle, aged 26 and 28 respectively, are committed to improving the user experience of the site and Sportlobster has identified the need for an app for its users as currently (47%) visit the site via smartphone.
Meikle says: “The app is going to dramatically improve the experience of sports fans both in the way they receive relevant information and how they interact with fellow fans around the world.”
“Sportlobster is constantly evolving and we work hard every day to improve the user experience. Our biggest ambassadors are our users and we are convinced the leap in quality experienced with the launch of the app will ensure word spreads fast and user numbers rocket as a result.”
Sportlobster’s vision to change the way people connect through sport is quickly being realised. With continuous improvement and burgeoning user numbers, the sport social network is destined to become a permanent fixture on the phones and desktops of sports fans worldwide.
See more here: www.sportlobster.com