Total amount raised
$67.3 Millions
Latest funding date
9/1/2021
Location
Sleeper has successfully raised significant funding through multiple rounds, with its latest being a Series C. The platform offers a unique blend of fantasy sports and eSports, creating a vibrant community for sports enthusiasts.
Keep reading to explore the intricacies of Sleeper's fundraising journey and the investors backing this innovative platform.
What Is Sleeper?
Sleeper, founded in 2015, is a sports platform designed for fantasy leagues and eSports. The company is headquartered in San Mateo, California.
Founded by Henry Leung, Ken Wang, Nan Wang, and Weixi Yen, Sleeper aims to connect fans and create a community where users can enjoy sporting events together.
With a small team of 1-10 employees, Sleeper continues to innovate in the fantasy sports and eSports space, fostering lasting friendships and memorable experiences.
How Much Funding Has Sleeper Raised?
- Seed Round
- Amount Raised: $2M
- Date: August 2017
- Lead Investors: Birchmere Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and attract early users.
- Series A
- Amount Raised: $5.3M
- Date: October 2018
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and grow the user base.
- Series B
- Amount Raised: $20M
- Date: May 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance user engagement and introduce new game offerings.
- Series C
- Amount Raised: $40M
- Date: September 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand game offerings and introduce the Wallet feature for integrated transactions.
Total Amount Raised: $67.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm based in Silicon Valley. They have been instrumental in funding technology startups and have a strong presence in the tech industry.
- Investment Focus Areas: Technology, social apps, eCommerce.
- Notable Investments: Facebook, Airbnb, Slack.
- General Catalyst
- Details: General Catalyst is a venture capital firm that partners with founders to build companies that withstand the test of time. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Healthcare, software, consumer products.
- Notable Investments: Stripe, Snap, Airbnb.
- Birchmere Ventures
- Details: Birchmere Ventures is an early-stage venture capital firm. They focus on investing in innovative startups with high growth potential.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: ModCloth, NoWait, SolePower.
- Klay Thompson (Thompson Family Foundation)
- Details: Klay Thompson is a professional basketball player and philanthropist. Through the Thompson Family Foundation, he invests in various ventures and supports community initiatives.
- Investment Focus Areas: Sports, education, community development.
- Notable Investments: Not publicly disclosed.
- Kevin Durant (Thirty Five Ventures)
- Details: Kevin Durant is a professional basketball player and co-founder of Thirty Five Ventures. The firm focuses on investing in startups and media projects.
- Investment Focus Areas: Technology, media, sports.
- Notable Investments: Postmates, Acorns, Overtime.
What's Next for Sleeper?
With the recent $40 million Series C funding, Sleeper is poised to expand its game offerings and introduce the Wallet feature, which will allow users to sync their preferred payment methods. This expansion presents a significant opportunity to increase user engagement and retention, especially as the platform has already doubled its user base in 2021.
Future fundraising opportunities seem promising, given the strong backing from high-profile investors like Andreessen Horowitz and NBA stars. However, Sleeper will need to navigate challenges such as maintaining high user engagement and integrating the new Wallet feature seamlessly. The competitive landscape of fantasy sports and gaming apps will also require continuous innovation to stay ahead.
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