Dream Sports, the parent firm of fantasy sports app Dream11, announced it has raised $225 million in a primary and secondary investment led by Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital, and Footpath Ventures, as per a media report.
Dream11 is the flagship brand of Dream Sports, which also has brands like FanCode, a multi-sports aggregator platform, DreamX, a sports incubator, and DreamSetGo, a sports experiences platform.
Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports’ marquee investors include Kalaari Capital, Think Investments, Multiples Equity, Tencent and Steadview Capital.
Talking about the deal, Harsh Jain, CEO and Co-Founder, Dream Sports said, “As a homegrown Indian company, we are proud to continue adding value to our 10 crore Indian sports fans, investors, employees, and the overall sports ecosystem in India. In the last two years, we have grown beyond fantasy sports to sports content, merchandise, streaming, experiences, and there is much more to come. Our vision is to ‘Make Sports Better’ for India and Indian fans through sports technology and innovation.”
Recently, the startup won the IPL title sponsorship rights for Rs 222 crore, replacing Chinese mobile phone company Vivo for a four-and-a-half month deal.
Dream11 became a unicorn in April 2019 after a secondary investment by Steadview Capital, the Asia-focused alternative asset manager. Until 2019, the user base for the platform grew at a CAGR of around 230 percent over the period of three years.
“We have grown from one to many brands and from 200 Sportans (employees of Dream Sports) to 450 in the last two years” added Bhavit Sheth, COO and Co-Founder, Dream Sports.
Mumbai-headquartered Dream Sports has a vision to ‘Make Sports Better’ by providing multiple fan engagement avenues like fantasy sports, content, commerce, experiences, and events, among others.
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