FanCode raises $50M from parent firm Dream Sports

Digital sports platform FanCode on Friday announced it has raised $50 million from parent company Dream Sports investment arm called Dream Sports Investments (DSI).

Since its inception in 2019, FanCode has over 20 million users and has partnered some of the biggest global sports brands such as the NFL, MLB, Cricket West Indies, New Zealand Cricket, NBA, Bundesliga, multiple IPL teams, live streaming nearly 30,000 hours of sports content.

Founded by sports industry veterans Yannick Colaco and Prasana Krishnan, the company offers interactive live streaming of sports matches with customisable data overlays, fastest ad-free live scores and a flexible choice to subscribe for content by introducing Match Pass and Tour Pass.

“The funding from Dream Sports will help us enhance our existing offerings and invest in further innovation in the sports tech domain as we scale up to our goal of growing to a user base of 100 million sports fans by July next year,” said Colaco.

Dream Sports, a homegrown company that owns brands such as fantasy sports platform Dream11, FanCode, and DreamX, in March announced the completion of a $400 million (approximately Rs 2,904 crore) secondary investment led by TCV, D1 Capital Partners and Falcon Edge.

Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports currently employs close to 600 people.

“We are happy to support FanCode’s efforts in scaling up the business and making sports more accessible to over 800 million fans in India,” said Jain, CEO and Co-Founder of Dream Sports.

FanCode personalises content and commerce for all sports fans.

“In a short period, FanCode has created not only best-in-class digital sports platform but also pioneered several user-first initiatives in India,” added Krishnan, another co-founder of FanCode.