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SOURCE Binary Event Network
Company Also Announces Closing of Second Angel Round of Capital Investment
NEW YORK, Jan. 31, 2014 /PRNewswire/ -- Binary Event Network, Inc. ("BEN"), a privately-held technology company that uses financial market technologies to connect live event programming with digital second screen experiences, today announced that Amanda Angelini has joined the company as President. Ms. Angelini brings over 15 years of distinguished experience across media/sports business development, investment banking, business expansion and law, serving most recently as Vice President of Business Development at USA TODAY Sports Media Group. At BEN, she will lead the continued commercialization and marketing of the BEN platform, oversee future growth opportunities and provide day-to-day leadership.
Separately, BEN also announced that it has closed its most recent angel round of financing, raising $1.875 million in capital from veteran finance, media and technology investors, including Broadhaven Capital Partners, an independent investment bank and growth equity investor serving the financial technology sector. The capital will be used to launch a production release of Pivit, the company's first "competitive spectator" app following the successful introduction of a Beta version in 2013. Additional funds will be used to build the team, accelerate marketing and user acquisition plans, establish business partnerships and expand the platform into complementary vertical markets.
Greg DePetris, BEN's co-founder, said, "By applying financial technology to sports, news, politics and other live events, BEN has created a new model of active engagement that connects a user's first screen with any form of second screen. Amanda brings the ideal experience, strategic acumen and relationships to ensure we move ahead with a broad and successful commercialization effort. Her career reflects deep and sophisticated engagement with sports/digital marketing, business expansion and proven execution skills, and we are delighted she has joined the team.
"I also want to thank BEN's exceptional angel investors. We appreciate their continued support and confidence in our robust, real-time transaction platform," Mr. DePetris concluded.
Ms. Angelini added "BEN's ability to use financial market technologies to connect live event programming with real-time digital second screen experiences is truly unique, and I am honored to join the team. The opportunity to capture changing public and fan sentiment in real-time is a tremendous and unique opportunity within media industry and financial technology. My immediate focus as President will be to ensure the successful launch of Pivit, while developing our business partnerships and revenue streams as we work toward longer-term product development, marketing and growth opportunities."
Prior to joining USA TODAY Sports Media Group, Ms. Angelini was Senior Director of Digital Business Development & Publisher Strategy for Soccer United Marketing/Major League Soccer. She also held positions of increasing responsibility in investment banking and capital markets for Citi Markets and Milbank, Tweed, Hadley & McCloy, both in New York, and at Arnold Bloch Leibler in Melbourne, Australia. Ms. Angelini received a Graduate Diploma in Applied Finance and Investment from the Security Institute of Australia and a Bachelor of Law Degree from Queensland University of Technology. She is a member of the New York Bar Association and received a graduate certificate in Sports Business from New York University.
About Binary Event Network
Founded in January 2011 by financial and media industry veterans, Binary Event Network (BEN) combines a global financial exchange platform with proprietary real-time content to create a new interactive experience for live events. The company's first product, set for release in January 2014, is a pioneering global social sports app designed to complement first and second screen experiences for sports enthusiasts and data consumers on mobile and tablet devices. BEN relies on data analysis and pricing models derived from the financial markets to stream a probability index that adjusts dynamically as changing sentiment, events on the field, and related inputs drive consensus opinion concerning the outcome of a game. Participants engage with the index by expressing their own opinions about what's likely to happen next, accumulating points, affecting the measure of consensus opinion, and proving their expertise. For more information, please visit www.BENMarkets.com or www.PlayPivit.com.
About Broadhaven Capital Partners
Broadhaven Capital Partners is a leading independent investment bank and growth equity investor focused exclusively on the financial services sector. Broadhaven's advisory business provides unconflicted financial advice on mergers, acquisitions, joint ventures, private placements, restructurings and other strategic transactions. With clients ranging from large, multinational corporations to emerging growth companies, Broadhaven offers clients unrivaled sector expertise, deep industry relationships and dedicated senior-level attention. For more information, visit www.broadhaven.com.
Jen Sanders, Perry Street Communications
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