Accelerate Fund II invests in StellarAlgo – analytics to boost fan loyalty and revenue for sports and entertainment businesses
CALGARY, AB, June 19, 2018 – Accelerate Fund II is pleased to announce its investment in StellarAlgo, a Calgary based SaaS data analytics company which helps sports and entertainment organizations maximize the engagement and lifetime value of their customers. Companies across North America including the Vancouver Canucks, the Los Angeles Kings, the Portland Trail Blazers, and US Open Tennis use StellarAlgo’s technology.
Currently, professional sports teams collect data about their fans’ habits and spending but their existing analytics systems are often not able to interpret this data in an automated and actionable way. Therefore, organizations lose out on fan engagement and sales opportunities. StellarAlgo’s data platform accelerates their customers’ ability to identify and act on retaining and capturing fans, while effectively identifying optimal price points for their most passionate followers.
“StellarAlgo was founded from the need to help sports and entertainment businesses effectively leverage their data analytics to optimize their sales cycles and better engage with their fans,” said Vincent Ircandia, CEO of StellarAlgo. “With our analytics insights, sports and entertainment companies can identify how to materially increase their annual revenues via an augmented, actionable understanding of customer lifecycles and optimal price points.”
The investment from Alberta’s Accelerate Fund II, along with the other Angel investor funds, will help StellarAlgo to scale their sales capabilities and growth strategy. The company plans to significantly expand its existing client base of professional sports teams in the NHL, NBA, MLS and minor league baseball. A portion of the proceeds will also go towards investment in optimizing their technology.
“StellarAlgo is a remarkable technology business that’s grown profitably from the start,” explains Nate Glubish, Investment Manager for Accelerate Fund II. “The team combines two rare skill sets – they are specialists in data science and have a deep knowledge in the sports industry and the entertainment business. We are excited that Vince moved from the US to found StellarAlgo in Canada and we look forward to helping the business scale.”
StellarAlgo’s proprietary customer data platform allows organizations to easily collect, organize, and drive insight to maximize the engagement, affinity and lifetime value of their customers. StellarAlgo is uniquely positioned to help organizations quickly and cost-effectively organize, analyze and leverage the data they need to make successful business decisions. The company works with professional sports teams in the NBA, NHL, MiLB, MLS, and US Open Tennis. They also have customers in the live entertainment sector including the MoPOP. www.stellaralgo.com
About The Accelerate Fund II
Accelerate Fund II is an early-stage angel co-investment fund in Alberta. We co-invest alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund II invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, clean and energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund II is managed by Yaletown Partners with the support of The A100.
Alberta Enterprise Corporation is Accelerate Fund II’s Limited Partner. www.acceleratefund.ca
Accelerate Fund II/Yaletown Partners
Claudia @ matertialinsight.com