True has sold its stake in data-driven marketing tool Spirable, marking the end of a partnership that saw us stepping in as the company's first investors – and working closely to help them fulfil their huge potential.
Spirable, who've been acquired by Global sports tech and data company Genius Sports were an exciting business to be working with from day one. Excited and inspired by the founders' vision to help brands leverage video marketing across major media channels, True incubated Spirable. We gave them office space alongside the True team at our Innovation Hub, and made meaningful introductions to leading global retailers, consumer brands and executives from across the True Live Network.
It paid off. The acquisition by Genius Sports will propel the company even further, allowing them to embed themselves in the world of sports technology, and transform the industry from the inside. We will be watching with great interest as this dynamic brand continues to thrive.
Matt Truman CEO and Co-founder of True said: “We invest in people! Dave and Ger represented everything we look for in people at such an early stage. I am delighted that as their first investors True has been able to play a small part in their huge success over the last five years, through the relevant introductions we’ve made from our unique network and more. We look forward to seeing the business grow from here. For True, this is another significant exit for our growth fund and a strong demonstration of True’s ability to be more helpful to entrepreneurs and management teams.”
Co-founder and CEO of Spirable Ger O’Meara says: “The team at True were early believers in our vision and became our very first investors. They have supported us with funding, sound advice and introductions to major retail brands right along the journey, including DIAGEO and Boots, as well as to growing businesses such as Ribble from their Portfolio. Dave and myself are very grateful for the big role that True has played in Spirable’s journey to date.”
Genius Sports are the official data, technology and media partner to hundreds of organisations globally, and will enhance the Spirable offering through access to official sports data and HTML5 programmatic technology.
Spirable will continue to operate under the Spirable brand, with the same team, innovative product and brilliant service, but with the additional benefit of a world-class data and technology company.