Rival just made a move that feels like a power play. The NYC-based fan engagement platform closed a $2.8M raise, oversubscribed, already stretching past $3M before 10/31. The timing wasn’t random. It dropped alongside Rival’s acquisition of Shake, a Gen Z-focused social gaming startup. Two shots, one target. Rival isn’t just securing capital, it’s stacking the deck.
Founded in 2020, Rival built a B2B2C bridge that turns brands, leagues & teams into digital arcade operators. Think tournaments, contests, loyalty rewards, and zero-/1st-party data collection, all white-labeled so partners own their brand while unlocking the 3.32B global gaming audience. That’s how you land 46 pro teams & major brands, NY Giants, Detroit Pistons, New Balance, Ravens, Aston Villa, Coca-Cola, Subway, without trying to be another consumer platform. The avg age of Rival’s users? 24.5. And 72% are net-new to client CRM systems. Translation: Rival delivers the audience teams dream about but can’t reach on social.
Leadership has been a big part of the story. Co-founder Shawn Murnan shifted from CEO to chairman in 2021 to focus on strategy. Matt Virtue, previously CSO, stepped in as CEO, backed by a résumé that runs through Liverpool FC, Horizon Media’s Scout Sports & Entertainment, ANC Sports, BE-AT.TV & Foxrock Partners. Rival isn’t hype, it’s a business architected around where Gen Z actually lives: gaming.
The Shake acquisition unlocks new gears. Co-founders Jack Kingsley, Spencer Lichtenberg & Heather Brooks Karatz built a platform around lightweight, high-frequency prediction contests tied to live sports & entertainment. Post-acquisition, Kingsley takes COO, Lichtenberg CTO, while Brooks Karatz advises Rival strategically. Pair Rival’s long-form tournaments with Shake’s quick-hit engagement and you’ve got both ends of the fan spectrum, the marathon & the sprint.
This round wasn’t fueled by faceless VC $, it came from insiders: league execs, team owners, CMOs. Chris Davis, CMO & Brand President at New Balance, sits on Rival’s board and has been one of its strongest advocates, pointing to the platform’s ability to connect brands authentically with gaming communities. That’s industry validation money can’t buy.
The funding will double Rival’s team, accelerate product development, and push into new verticals across sports, entertainment & global markets. As cookies die off, Rival’s zero-/1st-party data capture turns every click, contest & tournament into a strategic asset. For brands hunting relevance with Gen Z, Rival isn’t an option, it’s infrastructure.
Rival isn’t just building fan communities. It’s architecting the new economies of attention. And now, with Shake in the mix, it owns both pace & endurance.
