“Find all financial, market, strategy and technology information about Level Up Basketball company. Structure it as an investment memo.”
Level Up Basketball, founded in 2021 and headquartered in New York, NY, is a sports technology company focused on providing a mobile app for basketball training. The app aims to make training accessible and affordable, targeting players worldwide who cannot afford expensive in-person coaching.
In 2023, Level Up Basketball reported significant growth, with 127,000 new users (up 252% from 2022) and gross revenue of $42,816 (up 352% from 2022). They’ve raised $450,000 from venture capital firms and angel investors, indicating strong investor interest. Their annual recurring revenue (ARR) is approximately $40,000, with 960 active premium subscriptions, suggesting a subscription-based model.
The company’s strategy focuses on leveraging AI-powered coaching, gamification, and a marketplace for human coaches to engage users. Their technology includes an AI coach powered by GPT (likely from OpenAI), offering personalized guidance, which is an unexpected detail given the niche application of AI in sports training. They also provide video workouts and community features to enhance user interaction.
Level Up Basketball targets a global market of basketball players, with 50% of users from the US and 50% from South America and Europe. They face competition from apps like HomeCourt and Utrain, but their unique AI features may give them an edge in the growing sports tech sector.
Level Up Basketball, a New York-based sports technology startup founded in 2021, has emerged as a notable player in the basketball training app market. This survey note provides a detailed examination of the company’s financials, market position, strategy, and technology, offering insights for potential investors and stakeholders.