Who wants to be a millionaire? Nik Bonaddio did when he won $100,000 on the TV game show and launched Numberfire. That’s the way to get funded without going the VC route.
It’s a great story that Numberfire COO Adam Kaplan liked telling his audience last September 29 at the New York Sports Tech Meetup sponsored by GameChanger in downtown Manhattan. He also took the opportunity to announce the release of its app.
Numberfire has since been working with the likes of ESPN and FIFA, providing unstructured data and leveraging mathematical modeling to mine it for insight that predicts players and team performance.
It’s a long way from ex-jocks giving their own forecasts.
“It’s not based on emotion. It’s quantitative and based on rigorous mathematical modeling. Calculated and delivered on demand,” Kaplan said.
How does it all work? He said Numberfire ingests live data and regression modeling.
An analogy that Bonaddio likes to use from his past interviews is the common cold. You know when you’re going to get a cold. In sports, it can be the same way.
The data Numberfire uses to make projections is reportedly of public record.
Today, Numberfire offers analytics for the NFL, NBA and other sports organizations like the FIFA World Cup where it also leveraged its analytic capabilities in real time.
Numberfire’s monetization model is based on subscription content services and native display ads in various devices.
“We turn analytics into multiplatform products that deliver engagement, revenue and positive user experiences,” he said.
The meetup was also co-organized by Stainless Code. It uses advanced semantic technology to allow easy integration of their metadata logging tools in real-time video workflows. Current clients include Major League Baseball and Turner Sports.
Sponsors of the meetup were GameChanger and SportsData. GameChanger provides scorekeeping, stats, live GameStream and recap stories for thousands of amateur teams. SportsData, subsidiary of Sportradar, provides real-time scores, stats, play-by-by, and other sports info for 40+ sports, 800+ leagues, and 200,000+ events.