Since launching in 2012 the company has achieved consistent revenue growth and now boasts a user database of more than 50,000 people – this has continued to grow rapidly and is targeted to exceed 100,000 by the end of Q1 2016. However the Sport:80 team is confident that this represents only a fraction of the total potential market; Sport:80 currently works with 2 of the 62 International Sport Federations, which collectively, Directors estimate, have more than 240,000,000 members and form a market worth approximately £720,000,000 to the Company.
Sports federations, even at international level, still predominantly rely on disparate, labour intensive, and often, paper-based systems to manage their internal operations. This presents a distinct opportunity as, in the Directors’ estimation, the current crop of competitor products do not provide the same depth of functionality as the Sport:80 Platform.
What sets Sport:80 apart?
The Directors believe that Sport:80 has cultivated strong relationships with international and national Olympic and Paralympic sporting federations over the past decade through its management team. The Sport:80 Platform was purposely developed in response to a demonstrated market need and the Group has already secured commercial relationships with the British Olympic Association, Archery GB, British Fencing, England Fencing, Disability Target Shooting GB, BISFed, GB Boccia, Squash South Africa, International Federation for athletes with intellectual disabilities (INAS) and the International Wheelchair & Amputee Sports Federation (IWAS).
What is the Offer?
The Group is seeking to raise a minimum of £300,000 (and up to £750,000) in exchange for 4.7 to 11.1% equity. It is the intention of the Directors to use the proceeds to accelerate the development of the Platform, expand the Group’s capabilities and strengthen its position as a leading sports and event management platform provider. Contingent upon a successful fundraise and implementation of the business plan, the Directors plan to list the company on a UK stock exchange during 2016.