FanUp Raises Seed Round With All-Star Investors, Allowing Friends and Fans to Squad Up and Win Together

FanUp successfully completes $1.0M seed round at a $7.0M post-money valuation. The skill-based gaming app brings an unrivaled user experience with fun and visual features, that blend sports, esports and pop culture.

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FanUp, Inc.

Feb 02, 2021, 11:15 ET

PHILADELPHIA, Feb. 2, 2021 /PRNewswire/ -- FanUp (iOS), the best way to enjoy fantasy sports with friends and rival fans, has announced the successful completion of a $1 million Seed Round of financing, allowing the company to reinvent the fantasy sports industry, comparably to Peloton in Health and Fitness, and Spotify in Music and Streaming; with fun and visual content, social features, and data that personalizes fans' experiences with their favorite teams, players, brands, influencers, and groups. The investment round was initially led by Alumni Ventures Group/Nassau Street Ventures, Ozone Ventures, Value Asset Management and Reno Seed Fund, who bring deep expertise in gaming, and scaling consumer tech from Seed through IPO.

FanUp CEO and co-founder Tej Bodiwala said, "This is a major milestone in our company's journey, and a precursor for what's on the horizon. As fans, we've all missed the moments that connect us socially and make 'the game' part of a global culture, shared by billions. We're excited to introduce our first-to-market features and content that recreate the euphoria of March Madness, The Bachelor, IPL Cricket, and the social experience of a Super Bowl party, every time fans are in the app. We're at an inflection point and look forward to defining, and re-imagining, a new norm of fandom at a time it's needed most."

Additional investors in FanUp's Seed Round include: Ryan Moore (Founding Partner, Accomplice; Board, DraftKings), Phelps Gate Partners, George Baker (CEO, ParkHub), multi-platinum producer Shane Lindstrom (aka Murda Beatz), and Angel syndicates in NYC, Philadelphia, LA, London, and Toronto with recent exits to SoftBank and Sinclair Group.

The Seed round accelerates FanUp's entrance in the two largest gaming markets in the world (US & India), which will grow to a combined estimate of $46.2B over the next few years. FanUp has an integral focus on casual gamers, and young professionals, who offer broader market access (almost half are women) and prefer social and multiplayer features.

"For casual fans that have a wide range of varying interests, the fantasy landscape can be a tohubohu; chaotic and quite empty," said Tej Bodiwala. "We're proud to simplify the process and stay true to our mantra of innovation and fans first, always. We want every fan to have eudaemonic experiences, that brings them daily entertainment and happiness."

Value Quraishi, CIO, Value Venture Studios, Inc., says "the days of endless text scrolls are finally over. Now fans can enjoy sports the way they're meant to be. With FanUp, it's not about rosters, salary caps, and gaming by yourself. It's all about fans, their friends, and our community."

FanUp has "the sauce" for every fan, whether casual or hardcore. It's all about simplicity and ease of use. Fans can enter free-to play and cash contests in less time than it takes to pour a cup of coffee; with entertaining gameplay, including one-of-a-kind Tier contests, Squares, Pick 6, Challenges and Group Play for NFL, NBA, esports, pop culture, and Cricket (coming Mar. '21).

FanUp (iOS) launches in the US and Canada with a special Super Bowl LV Peloton and Mirror contest, and in India (Android and iOS, Mar. '21) for IPL Cricket.

Download the app in the App Store (Feb. 2), win 2,000 points instantly, and join FanUp's Super Bowl Tier Contest for a chance to win a Peloton Bike+, a Mirror Home Gym, or both! May the best fans win.

ABOUT FANUP

FanUp is fantasy sports and esports re-imagined; with fun, interactive, sports and pop-culture contests. Our prizes, brands, and social features, cater to causal fans and a younger demographic, ensuring we grow the entire market. May the best fans win.

CONTACT

To inquire about press, investment and partnership opportunities contact Kaya Brooks: [email protected]

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FanUp Raises Seed Round

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SOURCE FanUp, Inc.