Sportradar has announced two new partnerships, one with Canada pension Plan Investment Board (CPPIB) and one with TCV, a growth equity firm based in Silicon Valley.

Both CPPIB and TCV together acquired a 35% stake in Sportradar worth $2.4bn from the private equity firm EQT and minority shareholders.

In a press release, Sportradar CEO, Carsten Koerl said: “CPPIB and TCV are known for extensive global tech experience and a track record for working alongside innovate management teams to help achieve their long-term vision.

“Having two new investors with a strong North American footprint is ideal given our increasing focus and expanding operations in the US, as the sports industry evolves to meet the expectations of today’s sports fans.”

Carsten Koel will retain ownership of Sportradar and EQT will reinvest some of its sale proceeds back into Sportrader.

Some of the company’s existing shareholders include former NBA star Michael Jordan, Mark Cuban and Revolution Growth.

Sportradar expect this new North American investment will allow them to expand their reach in the US market, with Koerl finally adding: "Sportradar will continue to develop best-in-class, integrity and technology- driven services as we expand into new market segments, and we’re excited to have such a strong team behind us.”

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