SAN FRANCISCO, September 16, 2021 / PRNewswire / – Sleeper, the fastest growing organic fantasy sports company in United States, today announced a Series C fundraising of $ 40 million. This most recent round of funding is led by venture capital firm Andreessen Horowitz, who was also the primary investor in Sleeper’s Series B round.
Sleeper has taken the fantasy sports world by storm since the launch of Fantasy Leagues in 2018. In 2021, the company not only more than doubled its user base, surpassing 3 million active users, but it is growing. Also ranks among the top 50 app store users. According to the CEO of Sleeper, Nan Wang, when people step into the fantasy world of Sleeper sports, they stay and get engaged.
âOur mission from day one has been to bring people together through sport and that’s what we see happening inside our app. Typically, when a product doubles its user base, engagement is decreasing. This was not the case for Sleeper. As we exceeded our own growth expectations this year, our engagement increased. Sleeper is more than a fantastic sports app, it is a place to hang out with your friends, and that’s why our users stay active and keep coming back. “
General Partners David George and Andrew Chen co-led the investment on behalf of Andreessen Horowitz. In addition, all existing core investors also participated in the round. Notable angel investors including current and former NBA athletes Klay thompson (Thompson Family Foundation); Shane Battier; and Baron davis, NFL cornerback Byron jones, sports commentator Ros Gold-Onwude, co-founder of Twitch and Gold House Kevin Lin, co-founder of NerdWallet Tim chen, and the co-founders of Thirty Five Ventures Rich Kleiman and Kevin Durant are also investors in the company.
âSleeper’s multiplayer experience is all about helping sports fans connect with their friends, which leads to solid engagement, retention and organic growth, similar to what we can see on social apps., “ noted Andrew Chen, general partner at Andreessen Horowitz and member of the board of directors of Sleeper. “I am delighted that my partners at the head of the a16z growth fund want to invest more as the Sleeper team builds the benchmark sports community.”
As for the sequel, Sleeper will continue to expand gaming offerings on its platform and is in the process of creating a new feature called Wallet that will allow users to sync their preferred payment methods with the platform. According to Wang, all Sleeper users are currently transacting with each other in one way or another off-platform, and Wallet will bring all sports-related transactions to the platform, allowing Sleeper to monetize in a way. natural.
âVery few social apps can directly integrate user wallets, but by helping to solve a natural problem, we can also introduce payments to the platform in a way that further expands our ability to create exciting new experiences. for the next generation of fans. “
Sleeper is a fantastic sports app which aims to bring people together through sports and games. With fantastic leagues spanning the NFL, NBA, college basketball and League of Legends, Sleeper has become the world’s fastest growing organically fantastic platform, while achieving some of the highest levels of engagement per user. the highest in the sector. At Sleeper, it’s not just about sport; it’s about making personal connections and lasting memories.
For more information on Sleeper, visit www.sleeper.app or follow the conversation on Twitter via @SleeperHQ and on Instagram via @playsleeper.
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