Fansure Inc. (“Fansure” or “The Company”) today announced that it has entered into a definitive agreement to acquire TRNDS Sports, Inc. (“TRNDS Sports”), a sports betting intelligence company that created the first mobile-backtesting tool for sports bettors. The terms of the acquisition were not disclosed.
With its user-friendly experience that makes it easy for bettors to discover and leverage scenario-based data to make informed bets, TRNDS Sports positions Fansure to accelerate the acquirer’s entry into the sports betting space and power its overall COVID-adjusted growth plan, which includes re-allocating efforts into betting intelligence at the B2C and B2B level.
“We are very excited to add the TRNDS Sports app to the Fansure portfolio. Their team and product will be integral to our growth going forward while enhancing our value proposition to the sports betting community ” said Fansure’s Founder and CEO Vijay Shravah.
The transaction occurs at an opportune time for Fansure, whose original ticket protection product for fans has been adversely affected by the COVID-19 pandemic due to fans not being able to attend games. Shravah further commented, “The negative effects of COVID-19 have sent a shockwave around the world and across a multitude of business sectors. Unfortunately, the in-stadium fan experience has been meaningfully impacted by the pandemic in a detrimental way and it seems that those effects will linger well into 2021 barring a vaccine. As a result, we’ve decided to de-risk our roadmap by repurposing our proprietary data models to be applied toward data provision and insights within the sports betting space. We see a huge addressable market and an impending explosion in growth within the industry as the economies of many states will be sluggish coming out of the pandemic and many will look to the legalization of gambling to help backfill millions in lost revenues.”
TRNDS Sports has seen strong engagement since its MVP launched in the Fall of 2019 and looks to capitalize on the industry boom with the addition of new features within their consumer app and the rollout of a B2B offering.
This transaction builds on a close personal relationship between the two companies’ founders who once shared the same initial technology partner. Jordan Pascasio, founder and CEO of TRNDS Sports said, “We are thrilled to officially become a part of the Fansure family. As part of Fansure, TRNDS Sports can further differentiate its B2C data provision and accelerate its growth by leveraging Fansure’s proprietary data models and engineering talent. It also gives us an opportunity to help contribute to Fansure’s B2B insights development by adding a sports betting flavor to the approach. We are excited by the opportunity to push our initial product forward and we are maniacally focused on providing delightful user experiences and streamlined data accessibility to sports bettors.”
As part of the acquisition, Pascasio will join Fansure as the company’s VP of Product.
Following completion of the transaction, the TRNDS Sports app will initially operate as a standalone brand within Fansure and Mr. Pascasio will report to Mr. Shravah. The transaction is subject to customary closing conditions and is expected to close in the third quarter of fiscal 2020.
About Fansure
Fansure is a sports analytics company that provides predictive analytics and financial protection in the absence of star players. Led by NASA rocket scientists, Fansure developed machine learning technology that predicts the likelihood of star players missing games. To learn more, visit: https://fansure.com
About TRNDS Sports
Backed by Sportradar’s Acceleradar program, TRNDS Sports provides the first consumer-facing mobile backtesting tool that allows users to quickly analyze historical team profitability across any scenario by leveraging an easily navigable interface sitting atop a robust database. The company also offers a B2B product that provides marketing automation solutions to sports betting media platforms. To learn more, visit: http://www.trnds-sports.com
