Player prop DFS and esports platform ThriveFantasy has closed its latest funding round this week, raising $3m in the process. The investment will be used to fund strategic talent acquisition, solidify numerous sports/esports partnerships and continue its aggressive marketing programs to exponentially increase strong user growth.
The firm challenges fans to pick simple player props for sports or esports contests such as, over/under of yards, catches, touchdowns, assists or kills and more. The platform’s ease of use and focus on both sports and esports contests continues to attract many different types of users and led to significant growth over the past 12 months.
CEO Adam Weinstein 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.”
The round was led by Cardinal Sports Capital Inc (formerly, Shore Capital Sports & Entertainment LLC), an advisory and investment firm with offices in Toronto and New York. As part of its strategic investment, Cardinal Sports Capital Inc will take an active role assisting ThriveFantasy with business development, strategic partnerships as well as financial advisory services.
Scott Secord, Managing Partner, will also join the ThriveFantasy Board of Directors. He is the former President/CEO of Gaming Nation Inc, a publicly traded company on the TSXV, which was acquired in 2018 by a private equity firm. Prior to Gaming Nation, Mr. Secord held the position of President/CEO of Pointstreak Sports Technologies Inc from 2009 until 2015.
“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.”