About a year after securing $1 million in seed funding, Miami startup SportsManias said it has closed on an additional $3.5 million in Series A financing to help it scale its business. SportsManias.com aims to be the diehard sports fan’s source for personalized real-time team news.
SportsMania’s mother-son co-founding team of advertising executive Aymara Del Aguila and Vicente J. Fernandez said $3 million came from Jorge Mas of Mas Equity Partners, its original backer, and $500,000 is from a new undisclosed Miami-based private investor.
Fernandez said funding will be used to continue product improvements. SportsManias also plans to build partnerships with newspapers across the country and grow its fan base through additional marketing, he said.
SportsManias has an existing partnership with the Miami Herald and is in conversations with other news organizations, Del Aguila said. “Several publications have expressed interested,” she said.
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The startup recently rolled out a revamped version of its free application with new features including rumors push notifications. “When the Miami Heat free agency was going on, anytime anyone across all the publications would tweet about where Lebron James may be going, we pushed out a notification to all the users,” said Fernandez.
The company also added “head to head feeds,” which combine sources for opposing teams in a single place. “If you are not at the game, you are living that game,” added Del Aguila. “If you are at the game, it is an interesting experience as a second screen because you are getting this professional journalistic analysis as the game is going on.”
Since last summer, SportsManias’ team has grown from four to a dozen people. It has also quadrupled its traffic: The site currently receives 2 million unique visitors monthly, Del Aguila said, and the company expects rapid growth through additional media partnerships.
This is the second investment Mas Equity Partners has made in SportsManias. Last summer it invested $1 million in the then-bootstrapped company, Mas Equity Partners’ first tech-startup investment.
At the time, Jorge Mas, who is also chairman of the board of the Coral Gables-based infrastructure engineering and construction firm MasTec, said he liked the growth profile of SportsManias and believed Mas Equity Partners can help the team with strategic planning, organizational management and access to capital markets to help take the company to a much larger level.