A data startup working with Formula 1 raised $5 million to expand betting on niche and emerging sports

Joe Dunnigan and Todd Ballard founded ALT Sports Data.

Todd Ballard

• ALT Sports Data gathers data on niche sports so sportsbooks can create bets.
• The company, which works with leagues like Formula 1, just raised $5 million in seed funding.
• Its CMO broke down the company's business pillars that it says drive fan engagement.

ALT Sports Data, founded by GoPro alums Joe Dunnigan and Todd Ballard, announced Monday that it secured $5 million in funding.

The...