CityLegends Secures €1 Million Investment
27th Nov 2023
In a significant development for the urban sports and culture community, SportUp starter CityLegends has successfully closed a seed funding round, securing nearly €1 million in investments from a syndicate of prominent backers.
The funding, led by investors such as LeanSquare, LUMO Labs, imec.istart, Dutch Sport Tech Fund, and angel investor Matthieu de Clercq, is set to propel CityLegends into a new phase of growth and expansion. The platform, which boasts the title of the largest community platform for urban athletes and artists, is gearing up to redefine the landscape for the global community of unbound urban enthusiasts.
Expanding Horizons
The substantial investment is earmarked for several key initiatives that will fortify CityLegends' market presence. With a focus on broadening marketing efforts and expanding the user base across Western Europe, CityLegends is also set to embark on a go-to-market strategy along the U.S. West Coast in collaboration with urban sports brands. The funding will play a crucial role in refining the platform's in-app premium model, introducing additional features to enhance the overall user experience.
Jimmy Hermans, co-founder and CEO of CityLegends, expressed the company's mission: "We are forging the platform for the local and global community of unbound urban athletes and artists. CityLegends is all about video-driven content, exploring new spots, and connecting with others. We are building the world’s largest community based on the needs of our community."
Investor Confidence
The investor consortium, which includes notable names such as LeanSquare and LUMO Labs, has demonstrated a collective commitment to CityLegends' vision. LeanSquare Investment Manager Bertrand Joiret remarked, "CityLegends perfectly embodies these values by pushing the boundaries of technology to make urban sports more accessible, exciting, and connected than ever."
Andy LĂĽrling, Founding Partner at LUMO Labs, expressed excitement about continuing support for CityLegends and the journey ahead, emphasizing the team's dedication to their mission and community.
Matthieu de Clercq, angel investor, echoed his enthusiasm for CityLegends’ vision, stating, “CityLegends’ commitment to uniting urban sports and culture enthusiasts is done in a highly innovative way and fits numerous locations across the world. I believe in their potential to revolutionize this landscape and create a global community that inspires and connects.”
Empowering Urban Athletes
CityLegends' platform empowers athletes through the sharing of "clips," "spots," "jams," and participation in diverse contests connected to a global ranking system. This fosters a competitive ecosystem of urban esports, providing opportunities for digital achievements, merchandise, cash prizes, and access to physical world World Cup qualifiers.
In its pursuit of strengthening urban sports worldwide, CityLegends actively collaborates with brands, municipalities, and governments. Through its urban institute, LINES by CityLegends, the platform seeks to understand the ecosystem, secure funding, and unlock opportunities, contributing to the sustainability of cities and involving brands within these communities.
CityLegends' successful funding round and the support of a diverse group of investors signal a transformative period for the platform. As it expands its reach and refines its features, CityLegends is ready to be at the forefront of uniting the global urban sports and culture community. The platform's commitment to innovation, connectivity, and inclusivity aligns with the evolving needs of its dynamic and vibrant user base. We're very curious what this next chapter will bring!
Read the original press release article here