BDC Capital has made a C$14 million Series C investment in LiveBarn, a Montreal-based technology company that provides an automated system for broadcasting amateur and youth sporting events. The investment was made by BDC’s Growth Equity Fund.
Montreal, March 9, 2021 – BDC Capital today announces it has made a $14 million series C investment in LiveBarn, through its Growth Equity Fund. After launching in 2017, the fund has now invested $175 million in Canadian businesses seeking capital for organic growth or acquisitions.
“LiveBarn is an exciting, high-growth business and we’re delighted to partner with them as they transition to the next stage of their journey,” said Maxime Tourangeau, Partner, Growth Equity at BDC Capital. “They are led by a dedicated management team which has consistently shown impressive financial results. LiveBarn’s business model is innovative and unique and is proving to be a great success as evidenced by their ever-increasing subscriber growth.”
LiveBarn provides systems which allow for the live streaming or on demand broadcasting of youth and amateur sports from venues across North America, indoors or out. Last November, the company ranked 11th on Deloitte’s Technology Fast 50, a ranking of the fastest growing tech companies in Canada, with an impressive 1,455% growth over the last four years.
Ray Giroux, COO of LiveBarn, explained “this investment will be used to significantly accelerate our growth, as we continue to aggressively expand throughout North America. We are excited to partner with the BDC Capital team to leverage their industry expertise in supporting digital technologies. We are well positioned to pursue our expansion, building on our first mover advantage in a market we created. The BDC team shares the same passion and vision for the youth and amateur sports streaming space, demand for which is at an all-time high.”
BDC Capital’s Growth Equity provides patient, minority equity investments, from $3 million up to $35 million, to mid-market businesses in Canada. It offers an attractive alternative to this critical segment in Canada’s economy, so owners can retain operational and financial control of their business. With a national network and local accessibility, the Growth Equity team creates long-term partnerships with Canadian businesses and their owners by providing tailored advisory support and management-friendly flexible structures so they can adapt in a constantly evolving future and realize their potential.
LiveBarn’s fully automated system broadcasts amateur and youth sporting events using cutting-edge technology that automatically follows the flow of the game, no matter the sport. Broadcasts are available for hockey rinks, indoor courts for volleyball or basketball, turf venues for soccer or football, and baseball or other outdoor fields across the United States & Canada. LiveBarn is installed on over 1,500+ surfaces and has broadcast over 27 million hours to date. Visit livebarn.com for more.
About BDC Capital
BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions.Visit bdc.ca/capital.