The Action Network, Inc. Secures $17.5 Million USD in a Series B Funding Round


(Los Angeles, CA) For the sports fan that, likes to bet.  The website, Actionnetwork.com, is a very trusted source for sports betting insights and analytics.  It is said that, the aforementioned website helps to dramatically improve, the sports betting experience.  This is accomplished through the Action Network’s proprietary data, tools, news articles and real-time betting odds analytics.  In other words, the Action Network, Inc. is an oasis of sports betting content.  Recently, the aforementioned business revealed that, it has secured $17.5 million USD in a Series B funding round.  As part of the funding round; several business enterprises invested in, and, contributed to the $17.5 million dollars.  The most notable of these investors are; Fertitta Capital, Inc., and, The Chernin Group, LLC.

          The investment, on the part of Fertitta Capital, Inc. and The Chernin Group, LLC, signals changes.  Specifically, it has changed the composition of the board of directors.  First, Nakisa Bidarian of Fertitta Capital, will be joining the Action Network’s Board of Directors.  Second, Mike Kerns of Chernin Digital, will also be joining the Action Network’s Board of Directors.  Incidentally, Chernin Digital is a business that, is owned by the Chernin Group.  Nakisa Bidarian is the Chief Executive Officer of Fertitta Capital, Inc.  Through a press statement, Mr. Bidarian said the following.  “The Action Network is the ideal investment to allow us to fully leverage that experience.  We are confident that the company’s best-in-class leadership team, products and content will continue to expand its position as the leading sports betting media company.”  Nakisa Bidarian also said.  “Since its inception, Fertitta Capital has focused on uncovering opportunities to leverage our unique combination of experience across sports, media and betting.” 

          Technically, The Chernin Group’s investment, is a re-investment.  In October of the year 2017, The Chernin Group helped to found, the Action Network, Inc.  Mike Kerns is the President of Chernin Digital.  Through a press statement, Mr. Kerns said the following.  We are thrilled to welcome Fertitta Capital, and this exceptional group of sports, media and technology investors into the fold, as we build the next phase of The Action Network.  The company’s remarkable growth this last year is a testament to our strong leadership team, and this latest financing will help us expand our audience reach and depth of product offerings for years to come.”

          Other investors or business enterprises that, contributed to the $17.5 million dollars, include the following.  First, is David Blitzer of Harris Blitzer Sports & Entertainment.  Second, is the Chicago Cubs of MLB.  Third, is Bitkraft E-sports Ventures.  Fourth, is 6721 Capital.  Fifth, is Anthony Noto.  Mr. Anthony Noto, is the ex-C.O.O. of Twitter. 

          To end, the Action Network, Inc. did release a press statement.  Patrick Keane is the Chief Executive Officer of the Action Network, Inc.  Through a press statement, Mr. Keane said the following.  The Action Network is the benchmark for modern sports betting data, content and analytics.  With sports betting now legal in eight states and more than a dozen other states considering legislation to legalize, we see an incredible opportunity as we focus on securing the necessary approvals in regulated US sports betting jurisdictions as well as those around the world.”  Patrick Keane also said, “We are elated to have the confidence and support of top investors across sports and media.”  As previously stated, the aforementioned business recently revealed that, it has secured $17.5 million USD in a Series B funding round.  Several business enterprises invested in, and, contributed to the $17.5 million dollars.  Lastly, the most notable of these investors are; Fertitta Capital, Inc., and, The Chernin Group, LLC.

 

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Written from Press Release

Registered Writer with

PR Newswire Association, LLC

R-Berumen28

02/23/2019


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