Fanatics raises $700m at $31bn valuation
Sports retail giant Fanatics Inc has raised $700m in another funding round.
The round was led by private equity firm Clearlake Capital Group, which marked its recent purchase of English football giant Chelsea.
60% of the funds came from new investors, including LionTree, but previous investors including Fanatics SoftBank, Silver Lake and Fidelity also joined the investment. The round raised the company's value to $31 billion.
Fanatics, Inc. - is the world's largest seller of licensed sporting goods, NFT, collectible cards, as well as sports betting and iGaming.
The company is currently split into three brands: Fanatics Commerce, which houses its core merchandise business; Fanatics Collectibles, which includes collectible cards; and Fanatics Betting & Gaming.
#Fanatics #VC #News
