2080 Media Inc., an Atlanta-based company that helps customers produce and distribute untelevised live sporting events, has raised $3 million in Series A funding. Imlay Investments led the round, and was joined by Buckhead Investment Partners and Noro-Moseley Partners. The company also announced that it has acquired the assets of digital media company PlayON Sports from Turner Sports International Enterprises.
Atlanta-based 2080 Media, Inc. announced today that the Company is acquiring the assets of PlayON Sports from Turner Sports International Enterprises, Inc., effective immediately. 2080 Media is a digital media company focused on production and distribution of broadband content. Former Turner Broadcasting System, Inc. executive David Rudolph is the Chief Executive Officer of the Company, and will be responsible for the day-to-day operations of PlayON Sports. PlayON Sports will continue operating under its current name.
2080 Media plans to focus PlayON Sports on the fast-growing collegiate and high school sports markets, by providing clients with the ability to deliver TV-quality live and on-demand webcasts for all their untelevised sporting events. Previous clients of PlayON Sports include the Atlantic Coast Conference, the Atlantic Sun Conference, the United Soccer League, and Raycom Media.
“Fans have always wanted convenient access to the sporting events they are passionate about viewing, and it’s now possible to satisfy that demand through IP distributed video,” said Rudolph. “We look forward to immediately building on the success that Turner had with PlayON Sports, by working with our partners to make the PlayON technology solution more widely available, and bringing fans at home the content they are looking for.”
2080 Media’s Series A round of financing was led by Imlay Investments and included Buckhead Investment Partners and Noro-Moseley Partners. The board members of 2080 Media include Mike Eckert, former CEO of The Weather Channel and Pathfire; Mark Buffington, Managing Partner of Buckhead Investment Partners; Greg Foster, Partner at Noro Moseley; Rudolph; and another to-be-named executive. Pursuant to the terms of the acquisition, Turner has become a shareholder in 2080 Media.
About PlayON Sports
PlayON Sports is a digital media company that offers a comprehensive solution for high quality, low cost production and distribution of untelevised live events via the Internet. PlayON Sports is a private company based in Atlanta, Georgia, and is owned and operated by 2080 Media. For more information, visit www.playonsports.com.
About Imlay Investments, Inc.
Imlay Investments, Inc., an Atlanta-based venture/angel capital firm founded by John P. Imlay, Jr., former Chairman of Dun and Bradstreet Software, was developed to encourage the development of high technology companies based predominantly in the Atlanta area. Imlay’s prior portfolio companies include Internet Security Systems, Knowledgestorm, Synchrologic, and Tradex Technologies.
About Buckhead Investment Partners
Buckhead Investment Partners is a Registered Investment Advisory firm that focuses on combining top-tier, empirically-driven investment advice in the public markets with unique exposure to equity investments in privately-held companies. Founded in 2007, Buckhead Investment Partners manages assets worth over $75 million. The company focuses on servicing high net worth and institutional investors. For more information on Buckhead Investment Partners or its affiliated companies, please visit www.buckheadinvestments.com.
About Noro Moseley Partners
Established in 1983, Noro-Moseley Partners is one of the oldest and largest venture funds in the Southeast, having raised over $600 million and invested in more than 160 companies. The Firm recently held a first closing on its sixth fund and is aggressively pursuing new investment opportunities throughout the region. NMP’s focus is to help the Southeast’s most promising entrepreneurs grow companies that create significant value for all their stakeholders. NMP invests primarily in Southeastern-based early and early-growth-stage companies in the healthcare, technology and financial technology-enabled services fields. Noro-Moseley Partners’ offices are located in Atlanta, Georgia. For more information about NMP, visit www.noromoseley.com.