19 C
Tuesday, June 18, 2024

Icelandic sports and team technology company grabs €3.7M in post-seed funding

- Advertisement -

Reykjavik-based Abler has collected €3.7 million in a post-seed funding round. Abler is a sports management technology company and creator of Sportabler, a team management and calendar application that simplifies all communication, planning, and organisation by digitising and greatly increasing efficiency in the management and facilitation of organised sports programs. The round was led by Frumtak Ventures, an Icelander VC firm. Holding 95% market share in Iceland, the company is targeting to strengthen its influence both in the Scandinavian region, the UK, and the USA. This investment will also help the company expand its product range.

Abler’s product family connects all stakeholders and enables parents and guardians to register and pay for various activities, such as league football, handball, gymnastics and dance, as well as purchase related team-branded products. At the league and team management level, program organisers and coaches leverage Sportabler’s comprehensive management tools to significantly improve the administration of team sports and other organised activities. These administrative features include roster management, event management, venue booking, resource utilisation, logistics, e-commerce, contacts and communication between parents, coaches and league managers.

Abler, Markus Mani Maute“Abler’s vision is to make good sports programs better and improve the working environment of an industry that plays a vital role in communities,” said Markus Mani Maute, Co-founder of Abler and former professional handball player in Iceland and Germany. “Sports improve the overall physical, mental and social health of communities, and we believe that strengthening the organisations that run these programs is key to increasing interest and participation.”

To achieve these goals, Abler has partnered with top experts in sports, psychology and academia to develop its products and services. The company has already captured over 95% of the organised sports market in Iceland and is currently running pilot programs for youth league football and handball in the UK and Germany. While the system was initially designed for sports, Abler now also serves a much broader audience of organised groups that benefit from Abler’s membership management features, such as fitness centres, music schools and other organised activities. It will use the new capital to continue developing the Abler product family and deepen its reach in the Nordic, UK and EU markets.

Abler, Frumtak Ventures, Svana Gunnarsdottir“Abler is digitising the industry and serving everything from community youth sports to elite clubs. It’s an industry ripe for modernisation, and Abler is doing so in a way that drives physical and social health and well-being in communities across the globe,” says Svana Gunnarsdottir, Managing Director of Frumtak Ventures.

“The Abler team has significant expertise in professional sports and youth program development and has combined this knowledge with the most advanced technologies to create fantastic new market opportunities.”

Abler previously received angel investment from notable gaming and tech investors Alli Ottarsson (Makers Fund, Riot Games), Siggi Olafsson (Novator, CCP Games), Thor Fridriksson (Plain Vanilla, TeaTime, Rocky Road), as well as professional footballers Birkir Bjarnason and Alfreð Finnbogason, handball coaches Gudjon Valur Sigurdsson and Dagur Sigurdsson. It has received grant funding and support from the Iceland Technical Development Fund, the Innovation Center of Iceland and the Icelandic Directorate of Health.

Click to read more funding news.

- Advertisement -
Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

Related News

Stay Connected


Latest News