ThriveFantasy, a player prop DFS and esports platform, closed its latest investment round this week, raising $3 million. The money will be used to fund smart talent acquisition, establish a number of sports/esports agreements, and keep up its aggressive marketing campaigns in order to maintain robust user growth.
Fans are challenged to choose simple player props for sports or esports games such as over/under yards, catches, touchdowns, assists, kills, and more. The platform’s simplicity and concentration on both sports and esports competitions continue to draw a wide range of users, resulting in considerable growth over the past year.
Prop game of choice
Adam Weinstein, the company’s CEO, explained: “We are excited to see how ThriveFantasy has become the prop game of choice for the exploding number of fantasy players. Our investors truly understand this unique value proposition and enthusiastically helped us complete this round very quickly to help supercharge our ongoing growth.”
Cardinal Sports Capital Inc (previously, Shore Capital Sports & Entertainment LLC), a Toronto and New York-based consultancy and investment firm, led the financing. Cardinal Sports Capital Inc will aid ThriveFantasy with company development, strategic alliances, and financial advising services as part of its strategic investment.
Managing Partner Scott Secord will also join the ThriveFantasy Board of Directors. He was the former President/CEO of Gaming Nation Inc, a TSXV-listed company that was acquired by a private equity firm in 2018. From 2009 to 2015, Mr. Secord served as President/CEO of Pointstreak Sports Technologies Inc. before joining Gaming Nation.
Unique fantasy platform
Secord said: “ThriveFantasy is exciting because it is a unique fantasy platform that gives both esports and traditional sports fans a fun and easy playing experience,” said Secord. “The opportunities in the sports and gaming industry seem limitless, but we understand that one of the strengths of this market lies in the quality and experience of the platforms.
“Thrive’s is one of the best we’ve seen. Our investment in Thrive shows our commitment to continually improving how these games are offered to the growing number of fantasy fans.”