The duo had entered into an exclusive partnership two years ago, culminating in the formation of this new venture.
Bayes Esports Solutions will provide esports data products for business customers, including clients within gaming and media.
Dojo Madness Chief Technology Officer, Martin Dachselt, will take up the role of Bayes Esports Solutions Managing Director.
Dachselt said: "The successful cooperation we had with Sportradar in the past is now giving birth to a full joint venture between both companies, merging the best experiences of both parties in a fully independent business entity."
Warren Murphy, Managing Director, Betting and Gaming at Sportradar, said: "The Bayes Esports Solutions joint venture is a game changer for Sportradar in an exciting and growing part of the sports economy that undoubtedly presents massive opportunities."