Finance

Discovery Invests in WinView

Joins group that participated in WinView’s $12 million ‘B’ round 5/15/2017 9:24 AM Eastern

WinView, a startup that has built a free mobile app that lets users win cash prizes by making situational predictions during live TV sporting events, said it has raised a $12 million “B” round from a group that includes Graham Holdings, Discovery Communications, LionTree Partners, and Ted Leonsis’ Monumental Sports & Entertainment.

WinView said the funding round was led by former TiVo and NBC exec Tom Rogers, who is also executive chairman of WinView. With the new round factored in, WinView has raised about $20 million.

WinView said it will use the funding to drive further development and marketing of its skill-based mobile app for a wide range of pro sports, including baseball, basketball and football.

WinView Games, an ad-supported, free app, covers sporting contests via in a live studio by a team of producers based on what is happening in real time. As an example, users can predict outcomes of a football game, including propositions such as the opening coin toss, outcomes of field goals, and placing wagers (in the form of points) on whether a running back might fumble the ball during the current quarter.

“It’s an incredibly skill-oriented game,” Rogers told Multichannel News last year when WinView announced it had raised about $6.5 million, and a $3.4 million “A” round led by Rogers and former Cablevision Systems (now Altice USA) vice chairman Hank Ratner, who is now president and CEO of Independent Sports and Entertainment, a New York-based firm that represents more than 300 athletes across several major pro sports.

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WinView currently offers apps for iOS and Android. The company said it has a portfolio of 40 “foundational patents” covering the synchronization of the second-screen with TV broadcasts and commercials. 

The new investors “is a major validation of our live TV sports prediction platform and its upside potential to engage TV viewers in a new way to enjoy televised sports," Rogers said in a statement. "The WinView Games app fills a sports culture void by converting fans and TV viewers from spectators into play-along-live participants. Following last fall's successful start, these investments will enable us to take a significant step forward toward reaching our mobile, social and gaming business goals while capitalizing on fan excitement across virtually all professional sports including basketball, baseball and football. We also will strive to be part of the in-stadium experience, enabling fans to predict plays from their seats."

"WinView's products complement Discovery's goal to reach and engage our superfans around the world and across all screens,” added David Zaslav, Discovery’s president and CEO.

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