FanCode, a digital sports platform, announced that it raised USD 50 Million in a funding round on Thursday (27.05.2021). The funding round was led by Dream Sports investments (DSI), an investment arm of Dream Sports. Dream Sports is the parent company of FanCode.
The company will use the fund raised to expand its reach with new customers and increase its customers base and have a deeper connection with them.
Words from the investor –
On the latest funding into FanCode, Harsh Jain, CEO and Co-Founder of Dream Sports, said –
“FanCode is transforming the way sports is consumed online by focusing on long-tail sporting events and personalisation of content, commerce, and sports statistics across all sports. We are happy to support FanCode’s efforts in scaling up the business and making sports more accessible to over 800 million fans in India.”
About FanCode –
FanCode was founded and established by Yannick Colaco and Prasana Krishnan in the month of March 2019. It is a multi-sport aggregator platform for every kind of online sports fan, it mainly focuses on longtail sports content and commerce contextuals.
It has gathered a user base of 20 Million since it was initiated. It will use the fund raised to expand the user base and maintain a good connection with them. This expansion will be in multiple digital sports services, across various platforms.
Other than this it will be used to push the growth and scaling of product development and engineering by hiring new talents.
FanCode is a key brand of Dream Sports, a unicorn in the sports-tech sector. Dream Sports has some other successful brands like DreamX, Dream 11, DreamPay and DreamSetGo.
Till now, FanCode has made partnerships with a few leading sports brands around the globe like MLB, NFL, New Zealand Cricket, NBA, Bundesliga, Cricket West Indies, and different IPL Teams.
Words from the Co- founders –
On the latest amount raised, Yannick Colaco, Co-Founder of FanCode, said –
“The funding from Dream Sports will help us enhance our existing offerings and invest in further innovation in the sports tech domain as we scale up to our goal of growing to a user base of 100 million sports fans by July next year.”
Adding to what Yannick said on the funny raise, Prasana Krishnan, Co-Founder of FanCode, said –
“The investment from Dream Sports is a testament to the growth and potential of FanCode, and we look forward to scaling our business, continuing to create unique digital fan experiences, forging more strategic partnerships, and onboarding the best talent.”
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