Led by Liberty Media and Counterpoint Global, Overtime has now raised more than $250 million total to fund digital content offerings, Overtime Elite, OT7, and beyond.
On Tuesday, Overtime announced that it has closed a Series D funding round led by Liberty Media Corporation and Counterpoint Global, a returning investor. The funding will be used toward growing its Overtime Elite (OTE) basketball league, OT7 high school football league, and new sports leagues and verticals emphasizing e-commerce and Web3.
The company also plans to invest in broader short-form and long-form digital content offerings across football, basketball, soccer, gaming, and sneakers.
Additional Overtime investors include Bezos Capital, Winslow Capital, Blackstone, and Sapphire Sport. In total, Overtime has now raised more than a quarter-billion dollars in funding.
“This significant investment co-led by Liberty Media, who has fostered the explosive growth of Formula 1, is a real validation of the disruptive sports IP that we have created over the past year,” said Dan Porter, Overtime’s CEO and co-founder, in a company release. “Our investors, new and previous, see the massive growth potential of Overtime Elite and OT7, both of which have developed hyper-engaged audiences, as well as the potential for future sports leagues as well.”
Existing investors outside of the Series D round include Black Capital, Alexis Ohanian, Drake, Quavo, Carmelo Anthony, 35Vs’ Kevin Durant and Rich Kleiman, and Trae Young. Overtime said in a news release that over 6% of active NBA players have invested in the company.
Added Overtime President and co-founder Zack Weiner on the occasion:
“This is a dream team of investors and their expertise will be key as we take Overtime to the next level. We have been so fortunate to have investors who see their role as much broader than simply writing a check, and we again are welcoming new investors into the Overtime family who want to dig in and help us build.”
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