Sports Technology M&A Update – August 2025

Development of Professionalism in Youth Sports Facilitates Rises in Sports Technology M&A

Tailwinds from rising sports franchise valuations, institutional capital inflows, favorable sports betting legislation, and consumer health and wellness trends have all supported the widespread expansion of sports technology M&A through year-to-date (YTD). The growing Youth Sports segment has continued to peak buyer interest amid the rapid professionalization of collegiate and amateur sports. These growth catalysts have supported the estimated global Youth Sports market size, which reached $38.1 billion in 2024, according to Cognitive Market Research.¹  Business owners have leveraged M&A to strengthen their offerings, streamline operations, unlock new revenue streams, and expand geographically in an otherwise fragmented market. Notably, horizontal consolidation has been a popular tool among Youth Sports segment participations that have looked to diversify product portfolios and gain access to adjacent capabilities and customer bases. Operators in the sector have seen sizable growth due to the professionalism of youth sports—defined as organized sports programs for players under the age of 18—in areas such as Player Development and League Management. Sector participants’ integration of new capabilities aims to improve overall experience for players, parents, coaches, and teams and has driven a steady stream of revenue growth for sports technology businesses selling into the Youth Sports market. Looking ahead, this trend of professionalization is expected to continue driving demand for integrated digital solutions that have helped bolster Sports Technology Market M&A activity, innovation, and consumer investments to date.

Venture capital and private equity continues to invest in a consolidating Youth Sports market with innovation in technology, data analytics, facilities, performance enhancement, and social engagement, supported by strong consumer demand and spending.

Peter BaileySenior Director, Capstone Partners

Youth Sports Spending Propels Increased Desire for Enhanced Amenities, Improved Operations

The growing popularity of youth sports has propelled technological innovation and growth within the Sports Technology market to date as participants have continued to make product enhancements in-line with the desires of heavily invested, passionate consumers. The Youth Sports segment generates about $40 billion in annual revenue, according to the Aspen Institute.²  This shift has been supported by heightened parental spending; the average annual amount spent on a single child’s primary sport rose 46.6% from $693 in 2019 to $1,016 in 2024, according the Aspen Institute’s 2024 National Youth Sports Parent Survey.³ In contrast, Real Personal Consumption Expenditures (PCE) on the more broad Recreation Services category increased by just 8.7% over the same period, according to the U.S. Bureau of Economic Analysis (BEA).⁴ The difference in spending trends—where rising parental investments have continued to outpace recreational expenditures—has exemplified the powerful spending activity of the Youth Sports market that has continued to underpin sector growth to date.

Amid this growth, youth sports organizations have increasingly demanded software solutions to streamline business operations while youth sports participants have sought technology-enabled best-in-class athletic experiences. Notably, the largest increases in parental youth sports expenses over the five-year period occurred in team camps or athlete schools (+82.7%), team registration (57.6%), and travel and lodging (41.8%). Sector participants have prioritized investments in enhanced amenities, advanced player development analytics, streamlined scheduling and communication tools, and improved travel logistics solutions to address rising demand for technology-enabled solutions among both youth sports’ administrators and players. Notably, solutions that offer enhanced communication and convenience have been a particular focus among consumers, providing sector participants with opportunities to broaden a sticky customer base and recurring revenues. These youth sports-focused initiatives—that expand unique, technology-enhanced experiences and optimize back-end operations—are expected to help companies secure a competitive edge in the expanding Sports Technology market.

Key Growth Drivers, Rising Private Equity Interest Buoy Sports Technology M&A

Sports technology M&A activity has surged 47.7% YOY driven by strong fundamental growth and and the consolidation of key application components. Deal volume is up from 44 transactions in year-to-date (YTD) 2024 to 65 in YTD 2025. Innovation has shifted the landscape, fueling a dynamic M&A market in youth sports and the broader Sports Technology ecosystem, where companies have activated consolidation playbooks to scale operations, enhance service offerings, and meet the rising demand for professionalized, technology-forward athlete experiences.

Opportunities to roll-up business in rapidly growing segments or with attractive, in-demand tools—like development and management technologies—have underpinned growing financial buyer activity in the Sports Technology sector to date. Private equity (PE) M&A activity has contributed seven platform and 17 add-on transactions to YTD sector deal volume. This represents a combined 100% YOY increase, up from 12 PE deals in YTD 2024. This growth has also seen PE M&A take a larger portion of sector deal flow YOY, up from 27.3% to 36.9% in YTD 2025. Sector PE M&A growth has stemmed largely from rising sponsor-interest in development and management technology for sports applications. Of note, Accel-KKR- and Arctos-backed youth sports management platform, LeagueApps, acquired online booking and sports facility management service provider, RecTimes, in May 2025 (undisclosed). This transaction is expected to expand LeagueApps’ registration and management tool, LeagueApps Facilities, into an all-encompassing platform as part of its mission to provide a complete operating system for youth sports organizations. The LeagueApps acquisition underscores PE’s strategy to buy-and-build best-in-class, vertically integrated youth sports businesses. Capstone expects the Youth Sports space to remain a hotbed for financial sponsor activity given its strong fundamentals, market fragmentation, and opportunity for productivity improvements through professional management. LeagueApps subsequently acquired soccer platform Mod11 in June 2025 to strengthen its position in youth soccer and serves elite organizations including MLS Next, USL, and the Elite Academy League (undisclosed).

M&A activity in the Sports Technology sector has continued to evolve, characterized by shifting buyer dynamics and growing interest among both private and public buyers. Dealmaking from these buyers has ticked higher compared to YTD 2024, increasing 28.1% YOY to 41 transactions in YTD 2025. Private business owners have shown persistent appetite for inorganic growth, pursuing 28 deals in YTD 2025 compared to 21 in the prior year period. Alternatively, public buyers’ transaction volume has increased marginally, with 13 deals in YTD 2025 compared to 11 in YTD 2024. Strategic acquirers—particularly those with a single offering—have prioritized acquisitions of businesses with adjacent product offerings in an effort to create a cohesive end-to-end platform, bolster scale, expand software development talent, and drive innovation. Targets that possess operational management solutions—such as scheduling and logistics software, player performance data collection capabilities, and fan engagement analytics—are expected to see competitive sale processes at strong valuations. Competition for quality targets that address these demands has supported healthy and improving valuations across the Sports Technology market to date. Average M&A multiples between 2022 and YTD have reached 11.9x EV/EBITDA, a turn higher than the average seen between 2019 and 2021. As strategics continue to pursue M&A to expand service capabilities, bolster market share, and drive growth, Capstone expects companies in the sector providing services or application solutions automating processes to see elevated acquirer interest through year end and into 2026.

Private Equity Roll-Up Appetite Bolsters Sports Technology M&A Activity

PE acquirers in the Sports Technology space have actively pursued companies offering cutting-edge products, operational optimization tools, and strong integration potential. Many of these transactions have focused on horizontal or vertical roll-ups that align with and strengthen overarching company goals. Additionally, major PE firms such as KKR, (NYSE:KKR), Juggernaut Capital Partners, and Waud Capital have established presences in the Youth Sports space and are expected to continue reshaping the market through additional investment. This surge in PE activity has significantly contributed to the overall growth in M&A YTD, underscoring investor confidence in the long-term value of the Sports Technology sector. Two standout PE transactions are highlighted below.

• Stack Sports Acquires PlayMetrics (June 2025, Undisclosed) – In June 2025, Genstar Capital-backed Stack Sports acquired PlayMetrics from Blue Star Innovation Partners for an undisclosed value. Stack Sports offers software solutions for sports organization management, recruiting, and player development. PlayMetrics provides a youth sports management system catered towards the modernization of daily operations for directors, teams, coaches, and player families. The acquisition enhances PlayMetrics’ technology platform with Stack Sports’ scalability to service the growing Youth Sports environment. “Sports organizations are increasingly seeking a single, cohesive platform to manage their daily operations and complex business needs. PlayMetrics has been transformational in delivering a one-stop solution for members, coaches, directors, and administrations. By joining forces with Stack Sports, we further enhance our ability to serve our customers with innovative, reliable, and intuitive software,” noted Michael Doernberg, CEO of PlayMetrics, in a press release.⁵ This deal marks the latest in a slew of add-on transactions for Stack Sports under Genstar’s management. Stack Sports’ recent acquisitions include Meridix (March 2023), Affinity Sports (August 2019), and Blue Sombrero (August 2019), all acquired for undisclosed sums.
• Hudl Acquires Titan Sports (June 2025, Undisclosed) – Accel Partners-backed Hudl acquired wearable technology and software provider, Titan Sports, in June 2025 for an undisclosed sum. Hudl is a cloud-based technology company that provides performance videos and data for athletes and coaches. The acquisition bolsters Hudl’s video analysis and data collection capabilities with the addition of Titan Sports’ GPS tracking system, a lightweight wearable that captures more than 150 data metrics for performance breakdown and improvement, according to a press release.⁶ “We’re focused on giving every team the tools to capture, analyze, and act on performance data. Adding Titan strengthens that mission by making verified physical data more accessible—so coaches can train smarter, get their teams game-ready, and help athletes track their progress and build confidence in their development,” said Greg Nelson, Senior Vice President at Hudl, in the press release.

Sports Technology Equity Capital Deployments Prioritize Innovation Investments into Mature Sector Participants

Equity financing activity in the Sports Technology sector has declined from 34 transactions in YTD 2024 to 29 in YTD 2025. However, total equity capital invested in the sector has increased 53.1% YOY to $5.7 billion YTD. The rise in total capital deployed as deal volume has declined represents PE growth equity and venture capital (VC) fund managers’ preference for larger investments in scalable companies with existing operations. This reflects a continuation from 2024, which saw total capital invested jump significantly higher YOY than deal count. Moreover, the median pre-money valuation has reached $362.8 million, a 157.3% increase from $141 million in prior year period and the highest average seen since 2020 ($575 million). Increased average pre-money valuations in the Sports Technology Equity Financing market have reinforced preferences for mature, market ready investments that have clear exit visibility for growth equity investors. Additionally, equity investors have increasingly targeted sector participants with technology-enabled sports solutions to date. This appetite has materialized in robust growth funding opportunities for operators enhancing athletic experiences across all levels of sport, ranging from youth sports to Olympic athletes.

Legacy players have tapped into the Equity Capital market through venture arms to partner with disrupters in the Sports Technology space. Of note, Unrivaled Sports secured $120 million of early stage VC funding in April 2025. DICK’S Sports Goods (NYSE:DKS) led the round, joined by Dynasty Equity, LionTree, Miller Sports + Entertainment, and The Chernin Group. Unrivaled Sports operates a portfolio of youth sports destinations and programming, including Cooperstown All Star Village, Ripken Baseball Experiences, and Under the Lights Flag Football, among others. Unrivaled Sports underwent a significant expansion in the prior year, growing its national footprint across 30 states and enhancing capacity and experiences at owned properties, such as lodging, field, and amenity upgrades and renovations, according to a press release.⁷ The investment rationale from DICK’S focused on expanding its touchpoints with consumers beyond sporting goods to encompass the full youth sports athlete experience. Unrivaled Sports is expected to enhance the DICK’S live sports media platform, GameChanger, which enables fans and parents to virtually watch games, scores, and stats live. This strategic partnership not only underscores the growing investment interest in youth sports infrastructure but also signals a broader industry shift toward delivering premium, technology-enabled experiences that meet the evolving expectations of athletes, families, and organizers alike. The Sports Technology market’s reliance on cutting edge software solutions is expected to further propel healthy levels of equity investments through 2025 and 2026. Key growth equity transactions in the Sports Technology market are outlined below.

• Teamworks Secures $235 Million in Series F Financing (June 2025) – Teamworks secured $235 million in a Series F funding round—led by Dragoneer Investment Group and Athletic Ventures—for a post-money valuation of $1.3 billion (June 2025). Teamworks is a provider of operating systems for athletic performance improvement, including holistic performance development, game preparation, and operational excellence. This financing round will fuel Teamworks’ goal of expanding artificial intelligence (AI)-solutions across professional, collegiate, and Olympic programs. “From our origins in communication and scheduling, to building the defining operating system for sports, this funding positions us to accelerate our data science capabilities and to shape the future of AI in sports,” mentioned Zach Maurides, CEO and Founder of Teamworks, in a press release.⁸
• Epicore Biosystems Raises $32 Million in Series B Funding (May 2025) – Epicore Biosystems raised $31.7 million in a Series B funding round for a post-money valuation of $121 million (May 2025). Steele Foundation for Hope led the round, joined by Alumni Ventures, Beta Lab, and Joyance Partners. Epicore Biosystems offers a sweat-sensing patch that provides a concurrent analysis of key metrics including hydration, stress, nutrition, and wellness. This wearable has been utilized at major sporting events like the 2025 Super Bowl and applied to U.S. Army and Navy use cases. The company plans to use the additional capital to expand into international Industrial markets and scaling its cloud analytics capabilities. “We’re thrilled to have mission-driven investors onboard who recognize both the value of new data streams and the utility of biosensor technologies to transform safety, well-being and productivity,” noted Dr. Roozbeh Ghaffari, CEO and co-founder of Epicore Biosystems, in a May Fit Tech Global article.⁹

Backed by strong sector tailwinds, demand for operational and technological improvements has continued to fuel sports technology M&A and equity financing activity to date. Sports technology providers with offerings that address the operational and technological demand of the current landscape are expected to continue generating interest from acquirers and investors alike. Capstone expects these acquirers to continue consolidating technology solutions aiding professionalism, player development, and league management in-line with consumer demand trends through year-end and into 2026.

To discuss the rise of professionalism in youth sports, provide an update on your business, or learn about Capstone’s wide range of advisory services and sports technology M&A knowledge, please contact us.

Matthew Milone, Analyst, was the lead Market Intelligence contributor to this article.

Endnotes

1. Cognitive Market Research, “Youth Sports Market Report 2025,” https://www.cognitivemarketresearch.com/youth-sports-market-report, accessed August 5, 2025.

2. Project Play, “Youth Sports Facts: Challenges,” https://projectplay.org/youth-sports/facts/challenges, accessed August 5, 2025.

3. Project Play, “Project Play Survey: Family Spending on Youth Sports Rises 46% Over Five Years,” https://projectplay.org/news/2025/2/24/project-play-survey-family-spending-on-youth-sports-rises-46-over-five-years, accessed July 15, 2025.

4. U.S. Bureau of Economic Analysis, “Real Personal Consumption Expenditures: Recreation Services,” https://fred.stlouisfed.org/series/DRCARX1Q020SBEA, accessed July 21, 2025.

5. BusinessWire, “PlayMetrics and Stack Sports Combine to Create Leader in Sports Software,” https://www.businesswire.com/news/home/20250611023323/en/PlayMetrics-and-Stack-Sports-Combine-to-Create-Leader-in-Sports-Software, accessed July 15, 2025.

6. Hudl, “Hudl Completes Acquisition of Titan Sports, Expanding Performance Tracking Ecosystem,” https://www.hudl.com/blog/hudl-acquires-titan-sports, accessed July 15, 2025.

7. PRNewswire, “Unrivaled Sports Announces DICK’S Sporting Goods as New Strategic Investor in Growing and Elevating Youth Sports Experiences,” https://www.prnewswire.com/news-releases/unrivaled-sports-announces-dicks-sporting-goods-as-new-strategic-investor-in-growing-and-elevating-youth-sports-experiences-302447074.html, accessed July 15, 2025.

8. Teamworks, “Teamworks Raises $235M to Accelerate AI-Powered Innovation,” https://teamworks.com/blog/teamworks-series-f/, accessed July 15, 2025.

9. Fit Tech Global, “Sweat-Sensing Performance Wearable Epicore Raises US$32M for Expansion and Innovation,” https://www.fittechglobal.com/fit-tech-news/Sweat-sensing-wearable-raises-US32m-for-expansion-and-innovation/355794, accessed July 15, 2025.