Dream Sports Raises $225m At $2.5B+ Valuation With Future M&A Plans
? Later Stage VC
Mumbai-based 12-year-old fantasy sports company Dream Sports has raised $225m in a funding round from Tiger Global Management, TPG Tech Adjacencies, ChrysCapital, and Footpath Ventures
Up to date, Dream Sports has raised over $325m, reaching a post-money valuation of over $2.5B
The funding will go towards platform expansion in India, where cricket is very popular
Dream Sports is also preparing an acquisition spree and plans to acquire about 4-5 gaming startups. The company is already in talks to acquire Indian esports platform SoStronk, known for its CS:GO events and competitions
? Previous Rounds
In 2018, Dream Sports has raised $100m in a Series D round led by Tencent, with the participation of the company’s existing investors Kalaari Capital and Multiples Alternate Asset Management
In April 2019, Dream Sports was valued at over $1B in a secondary investment of $60m by Steadview Capital
? Products
Dream Sports is a developer behind Dream11, a fantasy sports platform that enables users to create their own teams and compete for cash prizes
The platform is mainly focused on cricket, but it also includes football, basketball, kabaddi, hockey, volleyball, handball, and baseball
Currently, the platform has over 100 million users and partners with such sports companies as NBA, VIVO PKL, IPL, BCCI, ICC, ISL, CPL, FIH, BBL, ECL, KPL, and T20 Mumbai League
Apart from Dream11 app, Dream Sports owns several other brands: DreamPay, DreamX, DreamSetGo, and FanCode (multi-sport aggregator platform for sports fans), as well as a philanthropic arm called Dream Sports Foundation
SOURCES: TECHCRUNCH, BIZBEHINDSPORTS
