PrePlay Raises $4.7 Million In Series B
RSE Ventures is a venture capital fund founded by Stephen Ross and Matt Higgins. Ross is a majority owner of the Miami Dolphins and is known for donating $100 million to the University of Michigan business school. Higgins was the EVP of Business Operations at the New York Jets.
PrePlay launched in 2010 and has hit 100,000 registered users. The company builds mobile and tablet apps to enhance the sports-watching experience. PrePlay users competed in worldwide social contests that involves predicting the outcomes of the events they are watching on live TV. PrePlay is compatible with hockey, football, and baseball.
PrePlay has made a total of eight million predictions so far. On the opening day of baseball earlier this month, users made over 200,000 “play-by-play predictions.” This is double the company’s prior single-day record. The company sees about an average of 50 minutes per user session.
“We think the whole social TV, second-screen business is upside down. It’s currently dominated by generic one-size-fits-all check-in apps and by TV programmers who want you to watch their shows, but have no feeling for games, no feeling for great mobile product. We fit into the category of ‘second-screen’, but we’re tackling the problem of engagement from a mobile-first, gaming perspective. We care deeply about creating rich, high-quality game experiences, and believe TV tune-in and engagement with content and brands flow naturally from there,” stated PrePlay CEO Andrew Daines.
PrePlay will be using the funding to grow their Ruby on Rails, iOS, and Android teams to build on their sports portfolio. The company plans on integrating ads and in-app purchases into their apps.