The Action Network, a Los Angeles, CA-based sports media company that provides in-depth betting content, tools and analytics for sports fans, closed on $17.5m in Series B funding.
The round was led by Fertitta Capital, with participation from independent media holding company The Chernin Group, which formed The Action Network in October 2017, David Blitzer of Harris Blitzer Sports & Entertainment, which owns a stake in the Philadelphia 76ers and New Jersey Devils, The Chicago Cubs, global esports investor BITKRAFT Esports Ventures, 6721 Capital and former Twitter COO Anthony Noto. As part of this investment, Nakisa Bidarian, CEO of Fertitta Capital, joined The Action Network’s board of directors, along with Mike Kerns, President of Chernin Digital.
The company intends to use the funds to continue to expand its position as the sports betting media company.
Launched in January of 2018 and led by Patrick Keane, CEO, The Action Network provides premium storytelling and analysis, real-time odds, in-depth information on the betting markets, personalized alerts for users, as well as the ability to track bets via its website and sports app.
The mobile application, available for free on iOS and Android, also allows users to track bets, receive alerts corresponding to picks and see how much money is placed on each side of every wager.