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Paraform Funded $20M to Empower Recruiters Over AI in Hiring Marketplace

recruiters

Paraform is a San Francisco, CA-based developer of a recruiting platform intended to connect companies with specialized recruiters. The company’s platform provides a platform for connecting with companies and businesses, referring candidates to job opportunities with specialized recruiters at a lower cost, and monitoring their performance to adjust flexibly based on demand. This enables individuals to find jobs through a digital portal at their desired startups and companies.

Paraform was funded $20 million led by Felicis, with participation from A*, BOND, DST Global, Liquid 2, and angel investors, including the co-founders of Canva, Instacart, YouTube, and xAI, along with Shyam Sankar, Harley Finklestein, Mark Pincus, and others.

The company intends to utilize the funds to scale its platform to meet the demand of startups and enterprises alike, deepen product development, and expand its global community of recruiters.

In a landscape saturated with generative AI tools for recruitment—automating resume parsing, outreach, and even interviews—Paraform is making a bold, contrarian bet: human recruiters, not AI, should steer the hiring process.

Jason Rumney, a top recruiter on Paraform’s network, explains that recruiting platforms today use AI to replace recruiters, but Paraform uses it to empower them. Paraform streamlines the busywork, allowing them to focus on what drives results – building relationships and closing critical hires.

Paraform’s CEO and co-founder, John Kim, likens elite recruiters on the platform to sports agents: strategic figures who navigate complex negotiations and advocate for talent. The company’s proposition: equip recruiters with powerful AI tools—call transcription, CRM automation, candidate matching—while leaving key decisions firmly in human hands.

John Kim notes that AI cannot evaluate soft skills, predict team dynamics, or assess whether a candidate will make a meaningful contribution to long-term success. Paraform is betting that these human judgments differentiate a good hire from a transformative one.

Currently connecting high-growth startups and enterprises—such as Palantir, Cursor, Windsurf, Decagon, and Hightouch—with independent recruiters and boutique search firms; Paraform boasts placements 3 times faster than traditional agencies.

The Series A funds will support:

  • Expansion of its global recruiter community
  • Enhanced product development, including deeper AI workflow tools and CRM systems
  • Scaling to address surging demand from both early-stage and enterprise customers

Paraform’s rise occurs amid a broader boom in AI recruiting. While many startups chase fully automated hiring, a growing segment emphasizes human-centric workflows. A mid-year survey from Staffing Industry Analysts found that AI is best suited for specific tasks rather than full-scale role replacement—suggesting fertile ground for platforms like Paraform.

Post‑funding, Paraform has also made strategic acquisitions, such as Styx—a sourcing tool that enhances AI-driven candidate fit by pulling signals from GitHub and Stack Overflow. Already, 25% of candidate-interview matches on Paraform are AI-suggested—a hybrid approach that enables faster and more informed selection.

Paraform’s fresh war chest—$20 million—marks a clear investment in people over AI, utilizing technology to amplify human hiring expertise, not replace it. As AI continues to reshape HR, Paraform asserts that a recruiter-first model can offer a competitive edge, providing faster placements, a stronger candidate-company fit, and outcomes that AI alone cannot deliver.

By: K. Tagura

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Extend Funded $17M to Develop AI Document Automation Cloud

Document

Extend is an NYC-based operator of internet extension document tools intended to provide powered workflows inside existing tools. The company specializes in reducing context switching, eliminating the need for copy and pasting, increasing the capacity of existing tools, and automating ticket workflows, enabling clients to customize websites without hiring a salesforce administrator.

Extend was funded with $17 million led by Innovation Endeavors, with participation from Y Combinator, Homebrew, Character, and angel investors, including Scott Belsky (former Chief Strategy Officer of Adobe) and Guillermo Rauch (CEO of Vercel).

Revolutionizing Document Intelligence

Historically, companies relied on legacy OCR systems and fragmented integrations to extract data from PDFs, scans, handwriting, and tables—but accuracy often suffers, and pipeline development can drag on for months. Extend positions itself as a full-stack document processing cloud, combining advanced LLM-powered parsing, precise extraction, pipeline orchestration, schema generation, and human-in-the-loop tools—all under one umbrella.

The startup claims 95%+ accuracy across a variety of document types, even degraded or handwritten content, and is already cash-flow positive with multi-million-dollar annual recurring revenue—surpassing all prior seed funding before closing this latest round.

“We’ve seen remarkable momentum over the past year, and this funding allows us to double down on our mission of helping ambitious teams unlock the full potential of their unstructured documents,” said Kushal Byatnal, co-founder and CEO.

Further highlighting their strength in the market:

Pedro Franceschi, CEO of Brex, reported Extend “outperformed every solution we tested—including other vendors, open source and even foundation models” and now supports document workflows for Brex’s 30,000 users.

Eli Badgio, co-founder and CTO, noted that the platform reduces time-to-production from months to just days, thanks to its LLM foundation and robust developer and operator tooling.

Davis Treybig, Partner at Innovation Endeavors, praised Extend’s “full-stack approach,” which empowers teams to both automate existing workflows and build innovative internal features for a competitive advantage.

Two New Features: Sandbox Mode & Automated Config

With this round closed, Extend is rolling out two significant enhancements:

Sandbox Mode: a self-serve trial environment enabling developers and business users to upload documents and test workflows immediately—no setup required.

Automated Config Generation (beta): eliminates manual schema configuration and prompts engineering by auto-generating custom schemas from sample documents. Future updates will add a computerized loop that continuously refines configuration based on evaluation feedback.

In Tehrani.com’s coverage, the feature rollout further underscores Extend’s advantage, as it surfaces as a 95%+ accurate, LLM-driven platform capable of processing complex PDFs into structured, production-ready data.

A Strong Roster of Clients

Extend claims adoption by major brands across industries—including Brex, Square, Checkr, Flatiron Health, and numerous Fortune 500 companies—that rely on the platform to manage millions of documents daily with high accuracy.

These clients span sectors where data precision is mission-critical, including fintech, healthcare, logistics, insurance, and more, all seeking reliable transformation from unstructured sources to validated data.

Market Context: The Document Cloud Frontier

While cloud platforms for computing, storage, and collaboration are commonplace, Extend touts itself as a pioneer in the largely untapped document processing cloud space—a specialized layer built to handle the complexity of unstructured enterprise data at scale.

As enterprises accelerate digital transformation, scrappy startups and incumbents alike are betting heavily on AI to tame messy data assets. Extend’s seamless tie-ins—schema-free ingestion, automated pipelines, and pilot-to-production tooling—position it for a potential breakout in a rising market.

By: K. Tagura

Who we are: Funded.com is a platform that is A+ BBB accredited over 10+ years. Access our network of Angel Investors, Venture Capital or Lenders. Let us professionally write your Business Plan.

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Guardz Funded $56M to Boost MSP Cybersecurity with AI-Driven Platform

Cybersecurity

Guardz, a Miami, FL-based cybersecurity startup, was funded $56 million, bringing its total capital to $84 million, in just over two years. The round was led by ClearSky, with participation from Phoenix Financial and existing investors, including SentinelOne, Glilot, Hanaco Ventures, and strategic angel investors from iAngels, GKFF Ventures, and Lumir, among others.

Founded in 2022 by Dor Eisner (ex-IntSights) and Alon Lavi (ex-Argus Cyber Security), Guardz emerged from stealth in early 2023 with a mission to safeguard small and mid-sized businesses (SMBs) via their MSP partners. Their AI-native unified cybersecurity platform integrates identity, endpoint, email, cloud, and data protection into a single engine—powered by 24/7 managed detection and response (MDR) that blends AI-driven automation with expert-led threat hunting.

By consolidating multiple point tools into one cohesive system, Guardz significantly reduces MSP workload and alert fatigue. The company cites internal research showing that 77% of MSPs struggle with fragmented security solutions, hampering responsiveness and efficiency.

SMBs have long been overlooked by sophisticated attackers due to their limited resources; however, the advent of automated cybercrime and generative AI tools has dramatically shifted that dynamic. Guardz addresses this by enabling MSPs—the frontline defense for many SMBs—to offer enterprise-grade cybersecurity with simplified deployment, real-time threat mitigation, built-in compliance, and even cyber insurance coverage.

The company intends to use the funds to Expand U.S. operations, Deepen R&D in AI-native automation, Accelerate go-to-market efforts, and Strengthen platform integrations.

As cyber threats become increasingly automated and identity-centric, small to medium-sized businesses (SMBs) are becoming just as attractive targets as large enterprises. MSPs—often with limited resources—are caught in the crossfire. Guardz’s strategy to unify tools with AI-backed MDR addresses this pain point head-on, positioning MSPs as growth enablers, not just service providers.

With its latest $56 million infusion, Guardz is poised to accelerate a new wave of cybersecurity solutions designed for SMBs via MSPs. By combining AI-native automation, identity-forward detection, unified controls, and regulatory readiness, Guardz aims to become the cybersecurity backbone for the global small to medium-sized business (SMB) sector.

This round marks a pivotal milestone in Guardz’s journey—signaling a transformative step in how Managed Service Providers (MSPs) secure and scale managed services.

By: K. Tagura

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Canid Funded $10M to Transform Pediatric Vaccine Management

Vaccine

Canid, a NYC-based, developer of a healthcare dashboard and process tool intended to simplify vaccination record management. The company’s tool offers administrative consulting, secures vaccine margins, automates your vaccine workflow, and oversees vaccine inventory, enabling state officials and pediatric practitioners to focus on their day-to-day practice.

Canid was funded $10 million led by Telescope Partners with participation from FJ Labs, Brooklyn Bridge Ventures, SeedtoB and other strategic angel investors. The new funding aims to expand Canid’s innovative vaccine management platform across ten additional U.S. states and enhance tools for managing pediatric vaccine patient populations.

Founded in 2020 by CEO Pedro Sanchez de Lozada, Canid offers an end-to-end solution designed to alleviate the administrative burdens associated with vaccine management in pediatric practices. The platform automates various aspects of vaccine operations, including purchasing, billing, inventory tracking, and patient outreach, allowing healthcare providers to focus more on patient care.

Sanchez de Lozada commented the vaccinations have been taken for granted for decades. They’re the #1 most valuable public health tool we have as a society, and yet they’re always the last priority for our healthcare system. Their goal at Canid is to change that. By eliminating the burden out of giving and receiving vaccines, they hope to make it exciting again to take part.

Canid’s platform addresses critical challenges faced by pediatricians, such as the financial strain of vaccine procurement and the complexity of insurance reimbursements. By purchasing vaccines on behalf of practices and managing billing processes, Canid ensures that providers receive full compensation for their services. The system also automates inventory management, reducing the risk of stockouts or overstocking, and facilitates the organization of mass vaccination clinics through an integrated scheduling feature.

The recent funding will support Canid’s expansion into new markets, particularly in the Southwest and Midwest regions of the United States. The company plans to leverage this growth to improve vaccination rates and public health outcomes by providing practices with tools to identify under-vaccinated children and streamline patient outreach campaigns.

As Canid continues to grow, its mission remains focused on supporting independent pediatric practices by reducing administrative burdens and enhancing the efficiency of vaccine delivery. By doing so, the company aims to ensure that children receive timely vaccinations, ultimately contributing to better public health outcomes.

By: K. Tagura

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Mura Funded $6M to Transform Field Service Operations with AI

Operations

Mura is a New York City-based developer of an invisible automation platform designed to streamline workflows within existing systems. The company’s platform integrates to provide the benefits of artificial intelligence without adding unnecessary complexity, featuring compatibility with pre-existing systems, automation capabilities, and lightweight implementation, enabling industries to enhance efficiency and optimize their operations.

Mura was funded $6 million, led by Level One Fund and Lerer Hippeau, with participation from angels and other investors. Seed funding round to revolutionize commercial field service operations using artificial intelligence.

Founded in 2024, Mura is building an AI-driven platform designed to streamline and optimize the day-to-day operations of commercial field service teams. These teams, which include HVAC, electrical, plumbing, and maintenance contractors, often face fragmented workflows, outdated legacy systems, and a lack of real-time visibility. Mura aims to solve these issues with an intelligent system that automates dispatching, scheduling, reporting, and communications.

The company’s platform leverages natural language processing (NLP) and predictive analytics to provide real-time decision-making tools. Field technicians and back-office staff can coordinate more efficiently using Mura’s mobile and cloud-based solutions. According to the company, early adopters have reported significant time savings and increased job completion rates since implementing the software.

The $6 million capital injection will be used to expand the engineering and product teams, enhance go-to-market efforts, and accelerate the development of proprietary AI models tailored explicitly for field operations. The company is also planning to scale its customer success team to support a growing base of enterprise clients across North America.

The commercial field service market, estimated at over $80 billion in the U.S. alone, has long been dominated by a mix of analog systems and enterprise software that is often too rigid or expensive for mid-sized contractors. Mura aims to fill that gap with flexible, intelligent tools that require minimal setup and adapt to the unique workflows of each business.

Mura’s product currently supports automated job dispatching, technician tracking, customer notifications, invoicing, and real-time analytics. Upcoming features will include AI-generated work summaries, predictive maintenance suggestions, and integrations with existing ERP and CRM platforms.

As AI continues to make inroads into traditional industries, Mura’s approach exemplifies a larger trend of “applied AI” — using machine learning not for futuristic applications but to solve real-world problems in overlooked sectors. With its fresh funding and ambitious roadmap, Mura is positioning itself at the forefront of this transformation in the field services industry.

By: K. Tagura

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Algoma Secures $2.3M to Streamline Real Estate Deals

Real Estate

Algoma, a NYC-based developer of a forward-thinking digital platform designed for feasibility, pre-construction process, and automating the integrated and repeatable delivery of sustainable buildings. The company’s platform combines automation with mass timber, resulting in rapid architecture and engineering designs by streamlining processes, to achieve quick delivery, reduce costs and enhance returns for real estate developers, enabling developers to leverage mass timber for swifter construction delivery while effectively eliminating embodied carbon emissions.

Algoma was funded $2.3 million led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC and angel investors. Algoma plans to invest the funds in expanding its engineering team, enriching its product suite, and advancing its web platform.

Algoma is on a mission to simplify and streamline how real estate deals are managed online. Its web platform acts as a centralized digital hub for real estate agents, buyers, sellers, and other stakeholders to coordinate, document, and close deals more efficiently.

The real estate sector has long been criticized for its reliance on outdated systems and disjointed workflows. Many deals are still handled through a patchwork of emails, spreadsheets, PDFs, and phone calls — often resulting in delays, missed details, and added costs. Algoma’s web platform is designed to eliminate those inefficiencies by offering a single dashboard that connects all parties and automates common tasks.

With tools for contract management, document sharing, scheduling, compliance tracking, and real-time communication, the platform is already gaining traction among boutique brokerages and mid-sized real estate firms across Canada and the U.S. Early users report faster deal cycles and fewer errors, helping them close more transactions with less friction.

According to industry research, the global real estate software market is projected to grow to $18.7 billion by 2030, driven by increased digitization and demand for more efficient property management tools. Algoma positions itself at the center of this transformation by targeting the high-friction segment of deal management.

The company’s roadmap for the next 12 months includes launching AI-powered assistants for agents, more customizable workflows for brokerages, and a mobile app version of the platform. Additionally, Algoma is exploring partnerships with national real estate associations to further integrate its tools into everyday agent practices.

Beyond product development, Algoma will use the funding to grow its customer success and sales teams, with the goal of expanding into new U.S. markets by Q1 2026. The company currently operates out of its headquarters in Toronto, with a remote team spread across North America.

As the real estate industry continues its shift toward digitization, companies like Algoma are positioning themselves to be the connective tissue that powers the next generation of property transactions. With fresh funding and a clear vision, Algoma appears well-prepared to make that vision a reality.

By: K. Tagura

Who we are: Funded.com is a platform that is A+ BBB accredited over 10+ years. Access our network of Angel Investors, Venture Capital or Lenders. Let us professionally write your Business Plan.

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ClearVector Funded $13M to Advance Identity-Focused Cybersecurity

Identity

ClearVector, a Reston, VA-based developer of an identity-driven security system designed to help organizations protect themselves in a cloud-native and cloud-first future. The company’s platform offers information support, one-click remediation, a real-time notification facility, activity status, and others, enabling clients to be prepared for a breach well in advance.

ClearVector was funded $13 million Series A funding round, aimed at accelerating the growth and capabilities of its identity-driven cybersecurity platform. The new investment was led by Scale Venture Partners, with participation from Okta Ventures, Inner Loop Capital, and existing angel investor Menlo Ventures, in conjunction with the funding. Ariel Tseitlin, Partner at Scale Venture Partners, will join the Board of Directors.

Founded in 2020, ClearVector protects organizations from modern threats by continuously monitoring and controlling identity and access across cloud-native environments. Unlike traditional perimeter-based models, ClearVector’s platform focuses on identifying and mitigating risks at the identity layer, which has become a top attack vector in recent years due to the widespread adoption of remote work and cloud technologies.

ClearVector CEO and co-founder John Laliberte said they built ClearVector to give enterprises real-time visibility and control over how identities behave across the entire environment. With this funding, they’re scaling to meet the growing demand for zero-trust and identity-first security.

The new capital will enhance product development, expand go-to-market strategies, and grow the company’s engineering and customer success teams. ClearVector plans to double its headcount over the next 12 months, with a strong focus on hiring experts in cloud security, machine learning, and behavioral analytics.

ClearVector’s platform uses a combination of behavioral analytics, real-time policy enforcement, and machine learning to detect and respond to anomalies in identity usage. This includes everything from excessive privilege escalations to suspicious lateral movements, often precursors to serious breaches. The company supports integration with major identity providers and cloud platforms, making it easier for customers to adopt identity-first security without overhauling their existing infrastructure.

Several mid-sized enterprises in the technology, financial services, and healthcare sectors have already adopted the platform. According to Allen, customer feedback has driven the company’s rapid iteration and feature development.

The cybersecurity industry has seen a surge in funding over the past few years as organizations grapple with a growing number of sophisticated threats. According to Gartner, identity-related attacks account for over 80% of breaches, making identity protection a top priority for CISOs worldwide.

ClearVector’s funding comes at a time when security budgets are under more scrutiny, but decision-makers remain committed to tools that improve resilience without increasing complexity. The startup’s identity-first model offers a targeted, efficient way to reduce risk without adding unnecessary friction to users and operations.

Looking ahead, ClearVector plans to expand its product capabilities into new areas, including non-human identity monitoring, advanced threat simulations, and integration with broader XDR (Extended Detection and Response) ecosystems. ClearVector is well-positioned to be a key player in the next generation of cybersecurity, starting with identity at its core.

By: K. Tagura

Who we are: Funded.com is a platform that is A+ BBB accredited over 10+ years. Access our network of Angel Investors, Venture Capital or Lenders. Let us professionally write your Business Plan.

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CodeAnt AI Funded $2M to Boost Code Review Automation and Software Security

Software Security

CodeAnt AI, a San Francisco, CA-based, developer of a devtool platform intended to enforce clean code practices in software security. The company’s platform automatically detects and fixes code issues to automate code quality checks and security vulnerability detection, write cleaner, more maintainable, and less error-prone code without the need for manual review and correction, enabling development teams to enhance code reliability, reduce technical debt, and accelerate delivery cycles.

CodeAnt AI was funded $2 million led by Y Combinator, VitalStage Ventures, and Uncorrelated Ventures, with participation from DeVC, Transpose Platform, Entrepreneur First and angel investors. The funding will be used to expand the engineering team, invest in machine learning research, and grow enterprise partnerships across North America and Europe.

CodeAnt AI has set out to address one of the most time-consuming and error-prone aspects of software development: manual code reviews. The company’s AI-powered platform uses large language models and deep learning techniques to analyze code submissions in real-time, identifying security vulnerabilities, logic errors, and code style violations before human review even begins.

Amartya Jha the founder of CodeAnt AI said, that code reviews are critical for catching bugs and enforcing best practices, but they’re often tedious and inconsistent. Their  platform acts like a supercharged reviewer, giving developers immediate, actionable feedback while ensuring that no critical security flaws slip through the cracks.

According to Jha, the AI can understand both the syntactic and semantic structure of code, making it capable of identifying subtle vulnerabilities that often go unnoticed in peer reviews. This includes common issues such as injection flaws, race conditions, and insecure authentication logic. By embedding security analysis directly into the review process, CodeAnt aims to reduce the average time it takes to detect and fix vulnerabilities—currently estimated at over 200 days, according to IBM’s Cost of a Data Breach Report.

The company’s early adopters include fintech startups and mid-sized SaaS firms who have reported improved code quality and a 30–40% reduction in time spent on code reviews. The platform felt like having a senior engineer with a security background reviewing every pull request.

In addition to bug detection, CodeAnt AI’s tool offers real-time collaboration features for engineering teams. Developers can ask the AI for suggestions, request explanations for flagged issues, and even get auto-generated test cases based on code context. The platform currently supports JavaScript, Python, Go, and Java, with Rust and Kotlin integrations in development.

To further its mission, CodeAnt plans to launch a beta program for enterprise clients in Q3 2025, offering integrations with GitHub, GitLab, and Bitbucket. The company is also investing in explainable AI (XAI) to ensure transparency in how its recommendations are generated, a key concern for larger organizations seeking to maintain compliance and accountability.

As the AI arms race continues in the developer tools space, CodeAnt AI’s fresh funding and clear focus on security-first review automation positions it as a notable player to watch. With software vulnerabilities remaining a top concern for organizations worldwide, the startup’s goal of making every line of code safer may resonate beyond engineering teams—reaching the desks of CISOs and CEOs alike.

By: K. Tagura

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EdgeRunner Funded $12M to Bring Offline AI to the Battlefield

EdgeRunner

EdgeRunner AI is a Seattle, WA-based developer of a generative AI platform designed for domain-specific AI for the warfighter, defense community, and regulated enterprises. The company offers a platform for on-device AI agents, ensuring data privacy, security, and performance across various hardware platforms. Thus, it enables defense professionals and regulated enterprises to enhance operational efficiency while safeguarding sensitive data.

EdgeRunner AI was funded $12 million, led by Madrona Ventures, with participation from seed lead Four Rivers Ventures. New angel investors HP Tech Ventures and Alumni Ventures joined, bringing the total funding to $17.5M. Matt McIlwain, Managing Director at Madrona Ventures, will join EdgeRunner AI’s board of directors.

The new funding will accelerate the deployment of EdgeRunner’s “edge AI” systems—tools that run advanced machine learning models on local hardware, eliminating reliance on cloud computing or constant connectivity.

At its core, EdgeRunner is solving a problem that’s long plagued defense and tactical operations: how to run robust AI systems in environments where internet access is unreliable or nonexistent.

Edge AI refers to artificial intelligence that runs on devices rather than in distant data centers. This allows for real-time decision-making in the field, whether it’s identifying threats via drone footage, parsing local radio chatter, or guiding autonomous ground vehicles—all without a data uplink.

EdgeRunner’s hardware and software stack is designed for these harsh, bandwidth-constrained conditions. The company’s flagship product, Praetorian, is a compact, ruggedized AI module that can be mounted on drones or vehicles or carried by soldiers. It runs large language models (LLMs) and vision systems directly on-device, allowing for autonomous sensor data analysis and instant recommendations.

Until now, most military AI has relied heavily on cloud infrastructure or large server deployments, often far from the field. EdgeRunner is flipping that model. Its edge devices process data locally, improving speed and reliability and adding a layer of operational security by keeping sensitive data off networks.

The U.S. Department of Defense has already shown interest. EdgeRunner is currently piloting its systems with several defense agencies under small-scale contracts, and Schiavo said the company is actively expanding these partnerships.

While the initial focus is defense, EdgeRunner sees potential for its tech in disaster response, border security, and even space missions—any scenario where latency is critical and connectivity can’t be guaranteed.

The $12 million injection will help EdgeRunner double its engineering team, expand its testing programs, and refine its product suite. According to Red Cell Partners, the investment is not just about a promising startup—it’s about reshaping the way critical AI systems are deployed.

As the Pentagon and allied forces look to modernize their tactical capabilities, companies like EdgeRunner may be the key to unlocking battlefield-ready AI without a signal to function.

EdgeRunner’s funding marks a significant vote of confidence in the future of offline AI. With battlefields, borders, and crisis zones growing more complex, the ability to bring high-performance AI to the edge isn’t just a technical challenge—it’s a strategic imperative.

By: K. Tagura

Who we are: Funded.com is a platform that is A+ BBB accredited over 10+ years. Access our network of Angel Investors, Venture Capital or Lenders. Let us professionally write your Business Plan.

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ALT Sports Data Funded $5M to Expand NXTbets Platform

NXTbets

ALT Sports Data is a San Diego, CA-based operator of a proprietary trading platform designed for modeling and distributing betting markets for alternative sports. The platform offers real-time odds and pricing, pre-match and live odds services, and in-play betting markets for specialist sports. It leverages advanced data models and market insights to engage with a global fanbase of over one billion alternative sports enthusiasts, enabling sportsbook operators to reach and retain untapped audiences.

ALT Sports Data was funded $5 million led by Relay Ventures and Eberg Capital, with participation from Motley Fool Ventures, Scrum Ventures, and a consortium of strategic angel investors.

The funding marks a significant step forward for the company as it aims to solidify its position in the evolving sports betting landscape, particularly in the underserved and fast-growing alternative sports segment. These include action sports like skateboarding, surfing, motocross, and others with passionate fanbases but limited presence in mainstream betting platforms.

ALT Sports Data has focused on aggregating and monetizing real-time data from non-traditional sports. With the legalization of sports betting continuing across the United States and other key markets, the company is tapping into an emerging niche: fans and bettors looking for deeper engagement with alternative sports.

NXTbets is central to this strategy. The platform offers curated betting insights, performance data, and real-time odds for events that typically fly under the radar of traditional sportsbooks. According to the company, NXTbets saw a 150% increase in user activity over the past six months, driven by a growing appetite for niche content and a surge in alternative sports events worldwide.

The newly raised capital will be used to scale internal operations, improve data infrastructure, and forge new partnerships with sports leagues, content creators, and sportsbooks. A portion of the funding will also go toward enhancing NXTbets’ user interface and expanding coverage to include more live events, betting models, and content formats, such as short-form video and interactive tools.

The move comes when alternative sports are gaining mainstream traction, particularly among younger audiences. Events like the X Games and Red Bull-sponsored competitions have built global fanbases, and more recently, action sports have gained Olympic recognition.

Analysts see ALT Sports Data’s approach as aligned with broader sports media and betting industry trends. As personalized content and micro-betting grow, niche sports could be a key battleground for user attention and retention.

By focusing on high-engagement, underrepresented sports, ALT Sports Data is positioning itself at the intersection of content, betting, and community. This combination could prove decisive in the coming years.

The company plans to integrate more machine-learning tools into its data platform, allowing for predictive modeling and customizable betting experiences. It also plans to roll out multilingual support and localized content in Europe and Latin America, where alternative sports have strong followings.

By: K. Tagura

Who we are: Funded.com is a platform that is A+ BBB accredited over 10+ years. Access our network of Angel Investors, Venture Capital or Lenders. Let us professionally write your Business Plan.