Overtime Sports Raises $80 Million In Funding From Jeff Bezos, Drake And More

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Overtime, the extremely popular sports brand, has raised $80 million dollars in funding from investors ranging from rapper Drake, Amazon founder Jeff Bezos and NBA athletes, according to a recent Variety article.

The Series C funding was led by return investor Sapphire Sport, Black Capital, and a diverse syndicate of distinguished leaders in technology, sports, finance and music. The notable investors also include Micromanagement Ventures (the family of the late NBA Commissioner David Stern), Alexis Ohanian, Jeff Kearl (via Pelion Capital), Morgan Stanley Counterpoint Global, Blackstone Strategic Partners, and more than 25 current and former NBA stars, including Trae Young, Devin Booker, Klay Thompson and Pau Gasol.

This funding will be used towards the expansion of Overtime, including building internal capabilities around NFTs, trading cards, and the company’s unique approach to content and community to develop sports betting tailored for the next generation of fans.

Overtime will also make a significant investment into the development of Overtime Elite (OTE), the company’s new basketball league. This will include guaranteeing salaries for all OTE athletes, hiring a dedicated staff of more than 80 league employees, and making other investments critical to launching a new league. OTE’s inaugural season begins in September.

With the NBA and major corporate investors, other notable investors include PROOF, Gaingels, Concrete Rose Capital, Dentsu Ventures, Intersect Capital, LightShed Ventures, WNBA All-Star and commentator Chiney Ogwumike, Rogue Insight Capital, Bakari Sellers, 10X Capital, True Capital Management, and Ares Management’s Nate Walton. In total, Overtime has now raised more than $140 million in funding.

Steven Boero
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