Sorare, the fantasy football platform, has announced that it has raised $680 million in Series B financing led by Softbank, with participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree; and existing investors Benchmark, Accel and Headline.
Football players Gerard Piqué, Antoine Griezmann, Rio Ferdinand and César Azpilicueta also participated in the round. In addition to the investment, Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group will join Sorare’s Board of Directors.
“We are continuously shifting towards digital experiences to celebrate and hone our passions. This is also true for sports, where clubs, players and their passionate fans are looking for new ways to connect with each other online”, said Nicolas Julia, CEO and co-founder of Sorare. “Sorare’s game is born from our love for football and our expertise in tech. We saw the immense potential that blockchain and NFTs brought to unlock a new way for football clubs, footballers, and their fans to experience a deeper connection with each other. We are thrilled by the success we have seen so far, but this is just the beginning. We believe this is a huge opportunity to create the next sports entertainment giant, bringing Sorare to more football fans and organisations, and to introduce the same proven model to other sports and sports fans worldwide.”
“Sorare sits at the intersection of two really exciting industries in digital collectibles and fantasy sports,” said Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group. “It’s evident from Sorare’s amazing growth this year alone that football fans around the world have been eagerly waiting for the “game within the game” that Sorare provides. We’re pleased to be joining them on this journey and are really excited to see what the company will achieve in its next phase of growth.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.