Latvian sports technology company Tournated raises $750K

Latvian sports technology company Tournated has raised $750K from Scandiweb, Asian sports club Shijiazhuang Chaofeng Sports and an international padel organization.

This funding will help Tournated expand its presence in the Americas and Asia and strengthen its position in racquet sports, as well as accelerate growth in other disciplines.

Tournated is a company that has developed a solution that allows any sports organization to create its own sports management platform. The software allows federations, clubs and event organizers to automate the management of networks, leagues, tournaments and clubs, optimize administrative operations, licensing and payments, increase athlete and spectator engagement, and create their own markets for sports services. The company's platform is currently used by 300 sports organizations in 50 countries. The company was founded in 2023 in Latvia by Nikita Ribakovs.

In February 2025, Tournated raised an investment of €50K from LatBAN, the Latvian Business Angels Network.  

Scandiweb is a global e-commerce agency that specializes in marketing, web development and digital operations. The company was founded in 2003 in Latvia.