Total amount raised
$840 Million
Latest funding date
11/1/2021
Location
Dream Sports has successfully raised funding over three rounds, with notable investors such as Tiger Global Management, Alpha Wave Global, and D1 Capital Partners backing the company. The platform encompasses various brands, including Dream11, FanCode, and DreamSetGo, catering to over 140 million users.
What Is Dream Sports?
Dream Sports, founded in 2008, is a leading sports technology company based in Mumbai, Maharashtra, India. The company operates several brands, including Dream11, FanCode, DreamSetGo, and Dream Cricket, catering to over 140 million users.
Co-founded by Harsh Jain and Bhavit Sheth, Dream Sports has grown significantly, employing over 1000 people. The company is committed to enhancing the sports experience through innovative offerings and contributing to the growth of the Indian sports ecosystem.
How Much Funding Has Dream Sports Raised?
- Series Unknown
- Amount Raised: USD 840,000,000
- Date: November 2021
- Lead Investors: Falcon Edge, DST Global, D1 Capital, RedBird Capital, Tiger Global
- Valuation at Round: USD 8,000,000,000
- Secondary Market
- Amount Raised: USD 400,000,000
- Date: March 2021
- Lead Investors: D1 Capital Partners, TCV, Falcon Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive digital engagement in real-life sporting events and contribute to the Indian sports ecosystem.
- Undisclosed
- Date: January 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the company.
Total Amount Raised: USD 840,000,000. Excludes the March 2021 secondary market transaction of USD 400 million and the undisclosed January 2010 round.
Current Valuation: Not publicly disclosed
Key Investors
- DST Global
- Details: DST Global is a global internet and consumer-technology investment firm founded by Yuri Milner. It was one of the lead investors in Dream Sports' USD 840 million round announced on November 24, 2021 at an USD 8 billion valuation.
- Investment Focus Areas: Late-stage internet, consumer technology and fintech companies worldwide.
- Notable Investments: Facebook, Spotify, Airbnb, Swiggy, Byju's
- RedBird Capital Partners
- Details: RedBird Capital Partners is a US private investment firm founded by Gerry Cardinale that specialises in sports, media and entertainment businesses. It was one of the lead investors in Dream Sports' USD 840 million round announced on November 24, 2021.
- Investment Focus Areas: Sports, media, entertainment and consumer businesses.
- Notable Investments: Fenway Sports Group, Toulouse FC, Skydance Media, On Location Experiences
- TCV
- Details: TCV (Technology Crossover Ventures) is a prominent venture capital firm that has made significant investments in global tech companies. This was their first investment in India, marking a notable entry into the Indian market.
- Investment Focus Areas: Technology, consumer internet, software.
- Notable Investments: Netflix, Airbnb, Sportradar, Peloton.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm known for its diverse portfolio and strategic investments. They were a lead investor in Dream Sports' secondary market funding round.
- Investment Focus Areas: Various sectors globally.
- Notable Investments: Not publicly disclosed.
- Falcon Edge
- Details: Falcon Edge Capital, co-founded by Navroz Udwadia, is an investment firm that often invests via its Alpha Wave incubator. They participated in Dream Sports' secondary market funding round.
- Investment Focus Areas: High-growth companies.
- Notable Investments: Various high-growth companies via Alpha Wave.
- Tiger Global Management
- Details: Tiger Global Management is a leading investment firm with a focus on private and public companies in the global internet, software, consumer, and financial technology sectors. They are an existing investor in Dream Sports.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Not publicly disclosed.
- ChrysCapital
- Details: ChrysCapital is one of the largest and most successful private equity firms in India. They have a strong track record of investing in high-growth companies.
- Investment Focus Areas: High-growth companies.
- Notable Investments: Not publicly disclosed.
What's Next for Dream Sports?
Dream Sports stands at the cusp of significant growth, driven by the burgeoning Indian sports ecosystem and increasing digital engagement with real-life sporting events. The $840 million investment, the largest in the Indian sports tech sector, shows the market potential and the opportunities to bring fans closer to the sports they love.
Future fundraising opportunities appear promising, with major global investors like TCV, D1 Capital Partners, and Falcon Edge already on board. The confidence shown by existing investors such as Tiger Global and ChrysCapital suggests ongoing support for future funding needs, potentially leading to further capital inflows and strategic acquisitions to enhance their technology and market reach.
However, Dream Sports may face challenges in maintaining user engagement and growth momentum, navigating regulatory hurdles in the fantasy sports industry, and competing with other sports tech platforms. Addressing these challenges will be crucial for sustaining their upward trajectory and capitalizing on the immense opportunities ahead.
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