Cipher Sports Technology Group’s vision is to be at the center of a bettor’s most exciting moments by creating memorable content powered by proprietary predictive analytics, machine learning and AI models. Pulse 2.0 interviewed Cipher Sports Technology Group CEO Adam Fiske to learn more.
Adam Fiske’s Background
Adam Fiske grew up in regional Australia before heading to the big smoke of Melbourne to start his career in advertising and media.
“I’ve been fortunate to work with some of the world’s leading brands, with a more recent focus on sports and online wagering,” said Fiske. “As CEO, I’m primarily responsible for the group’s day-to-day leadership and strategic direction.”
Favorite Memory
What has been your favorite memory working for Cipher Sports Technology Group? “Hard to pick one, so I’ve picked two. 1.) Announcing Cipher to the market last year and celebrating that moment with the team. It was a lot of hard work to get to that point, and sharing it with the world was great. 2.) Our most recent hack-a-thon, where our team collaborated and innovated. Experiencing the team’s energy and seeing the quality of work was a very proud moment. Stay tuned for some of those innovations to make their way into our product suite,” Fiske reflected.
Challenges Faced
What are some of the challenges Fiske faced in building the company and has the current macroeconomic climate affected the company? “Our first challenge was bringing two companies together in a merger, which has been one of the most rewarding challenges of my professional career,” Fiske acknowledged. “The macroeconomic climate has affected our company, with share prices of all our major partners impacted, meaning major cuts to marketing budgets. But we are well placed to absorb this and make the company stronger.”
Core Products
What are Cipher Sports Technology Group’s core products and features? “We provide the ultimate combination of data, content, and tools to help people on their sports betting journey and aim to be at the center of their most exciting moments. We do this through our consumer brands, led by Dimers.com in the US, and partnerships with media companies, operators, and leagues. Our AI and ML predictions-led content provides independent insights to engage users and drive new revenue streams,” Fiske explained. We have seen great interest in our recently developed white-labeled content platform, and we are excited to roll out a couple of new partners ahead of football season.
Evolution Of Cipher Sports Technology Group’s Technology
How has Cipher Sports Technology Group’s technology evolved since launching? “The first thing we did after securing capital was to invest in the scalability of our technology; this has allowed us to develop new products at rapid speed and maintain quality while also unlocking new opportunities with strategic partners,” Fiske noted.
Significant Milestones
What have been some of Cipher Sports Technology Group’s most significant milestones?
Some of his favorite recent milestones are:
– Growing the team to 30 people across three countries.
– Moving into new NYC offices and our Melbourne HQ, and all of the fun that came with fitting them out.
– Hitting 500k monthly users on Dimers.com.
– Receiving industry recognition with multiple award shortlistings.
Customer Success Story
When I asked Fiske about a customer success story, he noted: “Our partnership with PennLive, part of the Advance Local group, has generated significant new revenues for both parties. This new revenue has allowed PennLive to further invest into covering local news in PA, which is a rewarding thing to be a part of,” Fiske pointed out. “Our partnership with Advance Local has now grown to include more markets and opportunities for both parties.”
Funding
Are you able to discuss funding and/or revenue metrics? “We are thrilled to have been backed by several shareholders along our journey, and more recently closed an AUD 5 million round led by Cygnet Capital. We’re pleased to share that our revenue has grown by over 200% year-over-year,” Fiske revealed.
Total Addressable Market
What total addressable market (TAM) size is Cipher Sports Technology Group pursuing? “We’re pursuing a share of the global online wagering market – particularly in the US – currently valued at USD 60 billion and forecast to be about $150 billion by 2030,” Fiske assessed.
Differentiation From The Competition
What differentiates Cipher Sports Technology Group from its competition? “Our extensive experience, combined with our innovative scale-up culture and obsession with delivering rich customer experiences, gives us an execution advantage. More practically, our approach to building complex data-driven content and presenting it to the customer in an engaging and relatable manner sets us apart in a competitive market,” Fiske highlighted.
Future Company Goals
What are some of Cipher Sports Technology Group’s future company goals? “We’re determined to place Cipher at the center of all bettors’ most exciting experiences and see ourselves as a future Top 5 player in the sports betting data and content space. I’m pleased to say we are well on the way to achieving that!” Fiske concluded.
