[Funding alert] FanCode raises $50M from parent company Dream Sports
Digital sports platform FanCode has raised $50 million from parent Dream Sports’ investment arm, Dream Sports Investments (DSI), as it looks to expand its reach and have a deeper connect with its customer base.
Founded in March 2019 by Yannick Colaco and Prasana Krishnan, FanCode, which has a user base of 20 million, will use this round of funding to accelerate the growth and scale of its digital sports services.
This expansion would mean looking at expanding its user base across a multi-sport platform besides hiring engineering and product development talent.
Harsh Jain, CEO and Co-Founder, Dream Sports
FanCode is one of the key brands of Dream Sports, the unicorn sports tech company, which also has other brands such as Dream11, DreamX, DreamSetGo and DreamPay in its portfolio.
On the 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.”
Since its inception in 2019, FanCode has partnered with some of the leading global sports brands such as the NFL, MLB, Cricket West Indies, New Zealand Cricket, NBA, Bundesliga, multiple IPL teams, and live-streamed nearly 30,000 hours of sports content.
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.”
FanCode has established three D2C revenue lines between FC Live (live sports content), FC Shop (official sports fan merchandise), and FC Stats (sports analytics and insights).
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.”