Total amount raised
$4.3 Billion
Latest funding date
9/1/2021
Location
Sorare has successfully raised funding over four rounds, with the latest being a Series B round involving 24 investors, including SoftBank. The platform offers a global fantasy football game where players can buy, trade, and play with official digital cards.
Keep reading to explore the intricacies of Sorare's fundraising journey and the investors backing this innovative platform.
What Is Sorare?
Sorare is a private company based in Paris, Ile-de-France, France. It operates in the blockchain, cryptocurrency, fantasy sports, gaming, and soccer industries. The company has between 101-250 employees.
Known for its global fantasy football game, Sorare allows players to buy, trade, and play with official digital cards. The company has successfully raised funding through a Series B round, attracting 51 investors, including notable names like Aldea Ventures and Antoine Griezmann.
How Much Funding Has Sorare Raised?
- Pre-Seed Round
- Amount Raised: USD 550,000
- Date: May 2019
- Lead Investors: Kima Ventures, Seedcamp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and launch the first version of the game.
- Seed Round
- Amount Raised: USD 10,000,000
- Date: July 2020
- Lead Investors: Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A Round
- Amount Raised: USD 50,000,000
- Date: February 2021
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate hiring, onboard the top 20 football leagues, and launch a mobile application.
- Series B Round
- Amount Raised: USD 680,000,000
- Date: September 2021
- Lead Investors: SoftBank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform globally and enhance user experience.
Total Amount Raised: USD 740,550,000. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company known for its investments in technology, energy, and financial sectors.
- Investment Focus Areas: Technology, Telecommunications, Energy
- Notable Investments: Alibaba, Uber, WeWork
- Benchmark
- Details: Benchmark is a venture capital firm based in Silicon Valley, known for its early-stage investments in technology companies.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: Twitter, Uber, Snap
- Headline
- Details: Headline is a global venture capital firm investing in early-stage technology companies.
- Investment Focus Areas: Technology, Consumer internet, Enterprise software
- Notable Investments: Bumble, Sonos, Farfetch
- Kima Ventures
- Details: Kima Ventures is a French venture capital firm investing in early-stage startups worldwide.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: TransferWise, Zenly, Algolia
- Seedcamp
- Details: Seedcamp is a European seed fund that identifies and invests in world-class founders attacking global markets.
- Investment Focus Areas: Fintech, Healthtech, SaaS
- Notable Investments: Revolut, UiPath, TransferWise
What's Next for Sorare?
Sorare stands at the cusp of a transformative journey, with opportunities to onboard the top 20 football leagues and launch a mobile application. The platform's rapid growth, marked by a 52% month-on-month increase in trading volume, underscores its potential to revolutionize digital football fandom.
Future fundraising rounds seem inevitable as Sorare scales its operations and expands its team. The $50 million Series A funding round, led by Benchmark, sets a strong precedent for attracting further investment. However, challenges such as high Ethereum gas fees and competition from other NFT platforms could pose hurdles.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Sorare and gather other critical business insights.
Sign up for free to start transforming your sales approach today by visiting Clay's signup page.
