EXCLUSIVE: SorareData raises €2 million

Thursday, September 7, 2023

The data application for the fantasy sports game Sorare has just completed a new round of financing. The aim? To offer data on all the major Web3 sports games.

Every Sorare player knows... SorareData. In just three years, the French data application has become a must-have for tracking players' performances, transfers and values - in short, for managing your team to best effect and winning matches in the fantasy football game (there's also basketball and baseball).

As the new season gets underway, SorareData claims 50,000 weekly users, and 12.000 of them have a paying subscription (9.99 euros per month and 99.99 euros per year), which enables the company to post an annual turnover in excess of 1 million euros 💶. Good results that have obviously not escaped the notice of investors, since according to our information, the start-up created in 2020 has just raised €2 million as part of a seed with a valuation in excess of €10 million.

Sorare Data had already raised €700,000 as part of a pre-seed in September 2021. Sorare and Kima Ventures (Xavier Niel's fund) had invested in the start-up, which has 14 employees.

This time, SorareData is bringing new players into its capital, such as UK fund Fabric Ventures (read our report from London).

With this new round of funding, the start-up aims to accelerate its development. SorareData will become a brand within a larger whole. "The company will now be called Podium, with several brands inside like SorareData," explains Maxime Hagenbourger, founder of the start-up.

Podium's first new brand is Reign Metrics, which is the equivalent of a SorareData, but for the American football fantasy game, Reign Makers. "It's a major player in the US," explains Maxime Hagenbourger, who stresses that Podium is not aiming to launch applications for all fantasy games. "We're only going to work with the most successful games."

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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