Veteran industry investors pledge capital to emerging alternative sports league

Emerging niche sports entertainment group Pro League Network (PLN) has confirmed the closure of its latest seed funding round, with a new investment flurry led by US investor Roger Ehrenberg via IA Ventures and Eberg Capital.

PLN has also confirmed the addition of industry veteran Chris Grove, co-founding partner of gaming-led investment company Acies investments, and former Microsoft and Twitter (now X) head Jeff Ma as strategic advisors.

Ehrenberg recently invested in micro-betting startup Betr and has wasted no time in backing the sports entertainment company that produces niche sports on which several sportsbooks including DraftKings, Bet365, and Betfred offer betting markets.

In a statement, the company said it will use the newly acquired funding to develop more content in a bid to increase its portfolio of sports which currently sits at 16.

Commenting on the investment and the company’s growth since its launch in December 2022, Ehrenberg said that PLN was leading the way in providing fresh content for the igaming industry.

Ehrenberg said: “PLN is at the forefront of creating a new kind of entertainment. We’ve been impressed by the momentum they have generated across the industry and look forward to helping them grow.”

Fellow investor Grove praised PLN’s innovative approach to sports betting and giving consumers a host of alternatives when it comes to placing bets.

He said: “Realizing the full potential of legal sports betting in the US will require expanding the fundamental definition of sports betting, including expanding the sports we think about when we think about betting.

“PLN’s mission of enabling and creating emerging sports for betting is key to the ability of sportsbooks to offer more fans more options more often,” Grove added.

PLN’s niche sports offering includes CarJitsu Championship, Strongman, and Beastball, with players able to bet in several states including Kansas, Iowa, New Jersey, and Oregon.