PlayOn! Sports Adds $26 Million Via Series D Financing
High school sports proponent PlayOn! has completed a new round of financing totaling $26 million.
Atlanta-based 2080 Media, Inc., which operates as PlayOn! Sports, said it finished a Series D round of financing, led by Indianapolis-based Herff Jones, Inc., and also includes extant investors Buckhead Investment Partners, Hamilton Ventures, and Imlay Investments. PlayOn! has also struck a partnership with Herff Jones.
The funding is being earmarked to support new growth initiatives, including the fledgling NFHS Network, a digital service wrapping up high school sports content from around the country that is expected to kick off before the 2013-14 academic year, and to expand other strategic priorities.
The partnership between PlayOn! and Herff Jones -- a provider of high school yearbooks, class rings, caps and gowns, diplomas, educational products, cheerleading training camps, competitions and sports uniforms and equipment --will expand the former’s School Broadcast Program and jointly market the companies’ products and services.
The partners are working with PlayOn!'s agency of record, MELT, LLC. which will assist with sponsorship sales as part of the strategic expansion of the company and the NFHS Network.
"Working with Herff Jones is a tremendous opportunity for PlayOn! Sports," said David Rudolph, CEO of PlayOn! Sports, in a statement. "Partnering with the proven leader in the high school space across their multiple products and services will allow us to rapidly expand and deepen our relationships.”
Noted Jeff Webb, CEO at Herff Jones, Inc.: “Herff Jones is excited to partner with PlayOn! Sports as they continue to solidify their position as the leader in the high school sports media. Our shared goals of providing services to schools and value to students by preserving high school memories make PlayOn! and Herff Jones natural partners.”
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