US-based business management software provider Kore Software has formed a corporate venturing subsidiary called Kore Software Capital that will make strategic investments of up to $1m in size.
Kore produces software that helps sports and entertainment organisations run their businesses, giving them insight into the behaviour of their fans and customers.
The technology is used by more than 100 major league teams including Spanish football team FC Barcelona, basketball franchises Charlotte Hornets and Oklahoma City Thunder and American football team Los Angeles Rams.
Todd Cusolle, co-founder and president of Kore Software, said: “We are aiming for tech companies, emerging league team ownership positions, such as eSports, and other innovative companies within sports and entertainment.”
The fund’s first investment is in Fevo, a US-based startup that has created an online platform that allows groups to buy tickets for the same events, for which it has provided an undisclosed amount.
Ari Daie, Fevo’s chief executive, said: “We are thrilled to have this support and backing. Kore has revolutionised how fan relationships and sponsorship revenue are managed globally. Now Kore’s experience and guidance will help Fevo improve the fan experience and achieve a huge level of success too.”