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Fund your Fantasy: Startups that raised big money in Fantasy Sports

Startups! Take note! Pay attention! Big money is calling.

Startups! Take note! Pay attention! Big money is calling. Over the previous few weeks, we’ve introduced to the horizons of fantasy sports. What started as a way for enthusiasts to earn some money and have some fun is now one of the biggest industries. Fantasy Sports clocked in at around $ 4.6 Billion in 2012-13. You already know the figures. You already know that big game awaits. But if you are still hesitant, let us put your mind to ease.

Your success in fantasy sports depends on how you deliver the experience. Fantasy sports softwares are designed to make the complete experience a thrilling ride. Be it the forums, the drafts, the league plays or the new formats and big winnings. Investors are no fools. They haven’t missed out on the fact that at present, 10% of American population is engaged in fantasy sports of some kind. They also know that players throughout the year have injected $1.6 billion into fantasy sports, excluding the entry fees.

To give you real life examples, take a look at some of the biggest Fantasy sports websites that have raised big money through investors.

Case 1

Fanduel

The New York based daily fantasy sports operator Fanduel clocked in an impressive figure of $11 Million through fundraising last year. One of the major reasons for Fanduel’s high growth is its daily playing format. Players get to charge in, play big and win big over the course of a day instead of having to wait for the entire season. The biggest proof of Fanduel’s high momentum is its 500% growth in terms of handing out the winnings. While in 2011, Fanduel handed out $10 million in winnings in 2011 whereas in 2012, they handed out $50 Million in winnings!

Case 2

DraftKings

In November 2013, DraftKings raised $24 Million in collaboration with a funding round (Series B) led by Redpoint Ventures, with participation by GGV Capital, Atlas Venture, and BDS Ventures. And to think, this mega figure is for a company that was just eighteen months old! In the course of a single year, DraftKings tripled its user base with the start of hockey, football and basketball seasons while swelling their revenue 10x.
In addition, DraftKings has already raised $7 Million in Series A funding. Closer home, we have DumpsterFire, a Vinfotech Fantasy Football project which has garnered attention across the industry for their high energy competitive experiences.

Another Vinfotech project OverUnderSports, a fantasy sports portal where you can play every game possible in the fantasy league format is rapidly gaining industry grasp and winning hearts. Fantasy Leagues are no small game. Here, you play big, you win big! And that goes for the users as well as the enterprises and startups. Who knows, you can be the next sports entity who is paid attention to with their meteoric rise in fantasy sports. All you need is a web development team which can create the perfect online portal for you. Someone who understands the fantasy sports arena as well as your user base. Let yourself be the game changer. Its time we get down to the field and score high!

Vinfotech is a web development and design firm with an impressive portfolio of Fantasy League Solutions and Sports Web Solutions. If you’re a startup looking to get in on the game, give us a call. Let’s play!

Source: Thanks to VentureBeat and CrunchBase for the information.

About Vinfotech

Vinfotech creates world’s best fantasy sports-based entertainment, marketing and rewards platforms for fantasy sports startups, sports leagues, casinos and media companies. We promise initial set of real engaged users to put turbo in your fantasy platform growth. Our award winning software vFantasy™ allows us to build stellar rewards platform faster and better. Our customers include Zee Digital, Picklive and Arabian Gulf League.

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