Fanstake Announces $6.25 Million Series Seed Financing
Deal News | Apr 29, 2025 | Wilson Sonsini
Fanstake, Inc., recognized as the first fan-powered NIL marketplace and engagement platform, has secured $6.25 million in Series Seed financing. Announced on April 29, 2025, this financing marks a significant milestone for the company, aimed at expanding its innovative platform that connects fans with their favorite athletes. The financing round was spearheaded by Courtside, a known entity in sports and media investments. Other notable participants in the round included Susa Ventures, Will Ventures, Scrum Ventures, Myriad Ventures, Alumni Ventures, among others. To ensure a smooth transaction, Fanstake was advised by Wilson Sonsini Goodrich & Rosati, a prominent law firm. This financial boost is expected to further Fanstake’s goal of reshaping fan engagement and NIL (Name, Image, Likeness) market dynamics, leveraging its pioneering approach to create dynamic interactions between fans and athletes.
Sectors
- Financial Services
- Sports and Entertainment
- Legal Services
Geography
- United States – Fanstake, the investors, and the advisory firm are likely based in or primarily operate in the United States, where the Series Seed financing was announced.
Industry
- Financial Services – This industry sector is involved due to the Series Seed financing, which entails financial transactions and investments.
- Sports and Entertainment – Fanstake operates within this industry as a platform connecting fans with athletes, involving sports engagement and athlete branding.
- Legal Services – Wilson Sonsini’s advisory role highlights the legal service industry involvement in the transaction.
Financials
- $6.25 million – The total amount raised by Fanstake in its Series Seed financing round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fanstake, Inc. | Target Company | Company | The company receiving the Series Seed funding; it operates as a fan-powered NIL marketplace. |
| Courtside | Lead Investor | Company | A lead investor in Fanstake's Series Seed round, with interests in sports and media investments. |
| Susa Ventures | Investor | Company | Participant in the Series Seed round for Fanstake. |
| Will Ventures | Investor | Company | Participant in the Series Seed round for Fanstake. |
| Scrum Ventures | Investor | Company | Participant in the Series Seed round for Fanstake. |
| Myriad Ventures | Investor | Company | Participant in the Series Seed round for Fanstake. |
| Alumni Ventures | Investor | Company | Participant in the Series Seed round for Fanstake. |
| Wilson Sonsini Goodrich & Rosati | Legal Advisor | Company | Provided legal advisory services to Fanstake for its Series Seed financing. |