Hang, a ‘Twitch For Athletes’ Endeavor, Adds Investors
Hang, a watchalong streaming platform, has raised roughly $5 million between a seed round and current Series A fundraising efforts as it connects athletes and fans for live video chats. Recent investors include former Madison Square Garden Company CEO Hank Ratner, who joined Chicago Bulls center Andre Drummond and Pro Football Hall of Famer Andre Reed on the company’s board of advisors along with former WarnerMedia president of ad sales JP Colaco.
The platform, launched in the fall of 2021 by former CNN/U.S. president Jon Klein and entrepreneur Lorne Greene, hosts athlete-centric video chats during live sports action. The service has produced numerous events tied to college, NBA and NFL games, among others. For each, the company brings in retired pros and additional celebrities—such as Terrell Davis, Chiney Ogwumike and Cooper Manning—to interact with viewers in a Zoom-like environment monetized through sponsorships. Roughly 40 fans are able to join the calls via video, with many more invited to interact via text while watching. The streams are also simulcast on social platforms such as YouTube and Facebook.
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“We just wanted to see: Would it be fun to watch a game alongside an athlete? To be able to talk to them and pose your questions? Have them look at you and say your name and answer?” Klein said in an interview. “And from the word ‘Go,’ it just blew our minds.”
After launching, Hang executives recognized additional interest in their content in on-demand environments outside of live game windows. Hang has also invested in developing content focused around women’s sports. Across platforms, a women’s Final Four viewing party on Hang attracted more than 1 million viewers, the company said.
“We appreciate the pain points that traditional media are experiencing right now in sports,” Klein said. “The RSN collapse is indicative of the decline of the middleman. Every team, every league and all the brands that sponsor them have to have a direct relationship with fans and that’s what we deliver.”
Following recent fundraising efforts, the company expanded its headcount to 14, with an emphasis on sales and marketing positions.
The next phase for the venture, Klein said, involves building the infrastructure to allow athletes to host their own ‘Hangs’ with limited production support—“so that an athlete on their night off can just launch a Hang the way you would launch a Zoom call.”
“It’s been a pleasant surprise to see how into it the athletes are,” Klein said. “They say to us, ‘You guys are the Twitch for athletes.’”
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