Total amount raised
$4.9 Billions
Latest funding date
12/1/2022
Location
Fanatics has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company is a leading global digital sports platform, offering a wide range of products and services across various business units.
Keep reading to explore the intricacies of Fanatics' fundraising journey and the investors backing this innovative platform.
What Is Fanatics?
Fanatics, founded in 2002, is a leading global digital sports platform based in Jacksonville, Florida. The company was established by Alan Trager, Jason Watkins, Josh Luber, Michael Rubin, and Mitch Trager.
Fanatics specializes in designing, manufacturing, and distributing high-quality fan gear and jerseys across various retail channels. The company aims to meet the real-time expectations of leagues, teams, fans, and retailers in today’s mobile-first, on-demand culture.
With a workforce of over 22,000 employees, Fanatics operates more than 2,000 retail locations worldwide, including Lids retail stores. The company also offers sports betting and iGaming services through its Sportsbook platform.
How Much Funding Has Fanatics Raised?
- Amount Raised: $150M
- Date: June 2012
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance distribution channels.
- Amount Raised: $170M
- Date: June 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and scale operations.
- Amount Raised: $300M
- Date: August 2015
- Lead Investors: Silver Lake
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in technology and expand market reach.
- Amount Raised: $1B
- Date: September 2017
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and enhance digital capabilities.
- Amount Raised: $350M
- Date: August 2020
- Lead Investors: Fidelity, Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new verticals and enhance product offerings.
- Amount Raised: $320M
- Date: March 2021
- Lead Investors: Blackstone Group, Franklin Templeton, Major League Baseball, Neuberger Berman, Silver Lake, Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and expand market presence.
- Amount Raised: $325M
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and enhance technological infrastructure.
- Amount Raised: $10M
- Date: January 2022
- Lead Investors: Alameda Research
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To explore new business opportunities and innovations.
- Amount Raised: $1.5B
- Date: March 2022
- Lead Investors: National Football League
- Valuation at Round: $27 billion
- Motivation Behind the Round: To support business growth and acquisitions.
- Amount Raised: $700M
- Date: December 2022
- Lead Investors: Clearlake Capital Group
- Valuation at Round: $31 billion
- Motivation Behind the Round: To pursue new acquisitions and grow the business.
Fanatics has raised a total of $4.825 billion with a current valuation of $31 billion.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund that invests in technology companies. It is known for its large-scale investments and global reach.
- Investment Focus Areas: Technology, energy, financial sectors
- Notable Investments: Uber, WeWork, Alibaba
- Clearlake Capital Group
- Details: Clearlake Capital Group is a private investment firm that led the latest $700 million funding round for Fanatics. The firm specializes in private equity and special situations.
- Investment Focus Areas: Technology, industrials, consumer sectors
- Notable Investments: Ivanti, Diligent
- Fidelity Management & Research Co.
- Details: Fidelity is a multinational financial services corporation. It offers a wide range of investment products, including mutual funds and ETFs.
- Investment Focus Areas: Mutual funds, ETFs, wealth management
- Notable Investments: Apple, Amazon, Google
- Silver Lake
- Details: Silver Lake is a global private equity firm focused on technology investments. It has been an existing investor in Fanatics and participated in multiple funding rounds.
- Investment Focus Areas: Technology, tech-enabled industries
- Notable Investments: Airbnb, Dell Technologies, Twitter
- LionTree
- Details: LionTree is a merchant bank focused on media, technology, and telecommunications. It has been involved in several funding rounds for Fanatics.
- Investment Focus Areas: Media, technology, telecommunications
- Notable Investments: Snap Inc., Spotify, Warner Music Group
What's Next for Fanatics?
Fanatics is poised to capitalize on a wealth of opportunities, particularly through strategic acquisitions and partnerships. With recent investments in companies like Mitchell & Ness and Topps, the potential for growth is substantial. The company’s expansion into new segments such as sports betting and gaming further broadens its market reach, promising significant revenue increases.
Future fundraising efforts are likely, given the company's history of successful funding rounds and its plans for an IPO. However, challenges such as integrating new acquisitions and maintaining growth momentum in a competitive market could pose hurdles. Navigating these complexities will be crucial for Fanatics as it continues to scale.
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