Worldwide leading sports results application 365Scores has been recently acquired for $160M by British public company Entain, one of the world's largest sports betting and gaming groups.
The cross-media platform of 365Scores has served over 40 million sports fans around the world since 2012. It provides the fastest and the most accurate live scores updates online and offers coverage of 10 different sports and more than 2,000 competitions across the world.
365Scores started with four founders, who have remained together and still work in the company they founded: CEO Ami Serkis, CTO Roei Aharoni, CRO Yevgeny Brener, and VP of Research and Development Roy Hayumi.
LETA Capital was a lead investor in 365Scores' $5.5 million round in 2014 from its first fund LETA Capital Fund I. As of 2023, the fund’s DPI (cash-on-cash value of distributions) is 2.5x with 0.5x to 0.7x RVPI (the net asset value of a fund's remaining). Currently, the first fund’s IRR is 24%.
"The combination of 365scores' deep expertise in data-driven sports media content alongside Entain's global scale and market leading platform capabilities will provide customers with a broader offering of interactive content and experiences," Entain commented on the deal.
Alex Chachava, Managing Partner at LETA Capital and a 365Scores board member, shares his warm memories about the first meeting with the team and reflects on the company’s success. Read his recent blog post on Medium.