Reely Revenue, Valuation & Funding (2024)

Reely projected full-year 2022 revenue of $3.1 million, up from approximately $1.2 million in 2021 and $216,000 in 2018. Before the COVID-19 pandemic, the company was generating roughly $18,000 per month. Sports shutdowns during the pandemic drove revenue to near zero, but the business recovered sharply, reaching more than $100,000 in monthly recurring revenue by late 2021.

Reely had 128 customers as of November 2021, spanning Division 2, Division 3, and Subdivision 1 collegiate athletic programs, professional sports teams, high school organizations, and esports platforms. George Mason University was cited as a representative customer, purchasing approximately 300 games per season across baseball, football, basketball, and other major sports.

Pricing is structured as a SaaS model based on the number of games a customer processes through the platform. The base rate is approximately $40 to $50 per game, producing an average annual contract value of roughly $12,000 for a school purchasing around 300 games. Smaller schools purchasing as few as 60 games would pay proportionally less. The largest customer at the time of the interview was purchasing 2,200 games, though Evans noted pricing scales down at higher volumes, so that customer was not paying $40 per game. Challenger Mode, a European esports platform with 2.5 million users and 15,000 monthly tournaments, was a newly signed customer as of the interview date. Reely does not currently take a cut of advertising revenue flowing through its platform, though Evans indicated that could change once the footprint is large enough to support programmatic advertising.

Reely operates a per-game SaaS model in which customers pay based on the number of games or events processed through the platform each season. The average contract value was approximately $12,000 annually as of 2021, based on a price of roughly $40 per game for a customer purchasing around 300 games. Pricing scales down for higher-volume customers.

Gross logo churn was extremely low: Evans said Reely had lost only two customers in the two years since he joined, out of a base that reached 128. The company does not currently monetize advertising inventory flowing through its platform, though Evans described that as a future opportunity once the platform reaches sufficient scale for programmatic ad sales. Profitability was not discussed in the interview. Burn rate and runway were not disclosed. The system generates a highlight clip in approximately three seconds, which Evans described as the core technical differentiator enabling real-time distribution at scale.

Reely had 11 total employees as of November 2021, six of whom were engineers. Evans did not provide further breakdown of team composition beyond those figures.