Funding round
Dream Sports Growth
Reported as "Growth Equity"
Dream Sports, which works in fantasy sports platform development in Mumbai, raised $840M in a Growth round announced on 24 Nov 2021, led by Falcon Edge, DST Global, D1 Capital, RedBird Capital Partners and Tiger Global, at a $8.00B post-money valuation. 7 firms took part. It is Dream Sports' second venture round on record; the one before was a Growth in Mar 2021.
$840M
Amount raised
$8.00B
Post-money valuation
$7.16B pre-money
7
Investors
5 leads
1.6x
Step-up from the Growth
$5.00B in Mar 2021
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Dream Sports at $8.00B after the new money, 1.6 times the $5.00B of its Growth (Mar 2021). The $840M bought investors about 11% of the company. It came 8 months after Dream Sports' Growth. It is 68% of the $1.24B Dream Sports has raised in the venture rounds on record. No later venture round is on record for Dream Sports.
Dream Sports' funding rounds
Dream Sports has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Other not a venture round 14 Sep 2020, led by Tiger Global Management, TPG and ChrysCapital $225M$2.50B post-money
- Growth 24 Mar 2021, led by Technology Crossover Ventures, D1 Capital Partners and Falcon Edge $400M$5.00B post-money
- Growth this round 24 Nov 2021, led by Falcon Edge, DST Global and D1 Capital $840M$8.00B post-money
Investors
Who put money in
Falcon Edge, DST Global, D1 Capital, RedBird Capital Partners and Tiger Global led the round with 2 other firms.
Lead investors
- Falcon Edge new investor
- DST Global backs 179 venture-backed companies new investor
- D1 Capital new investor
- backs 13 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- TPG backs 114 venture-backed companies new investor
- Footpath Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
431 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $56M, and this round was 15 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Formstack Tech Companies | 18 Nov 2021 | $425M | not disclosed | Silversmith Capital Partners and PSG |
| Intellistack Tech Companies | 18 Nov 2021 | $425M | not disclosed | not named |
| Tech Companies | 23 Nov 2021 | $350M | not disclosed | K1 Investment Management |
| Armis Tech Companies | 29 Nov 2021 | $300M | $3.40B | One Equity Partners |
| Tech Companies | 25 Nov 2021 | $300M | $5.00B | Insight Partners |
| Tech Companies | 10 Nov 2021 | $240M | $1.00B | not named |
| Tech Companies | 3 Nov 2021 | $234M | not disclosed | SoftBank Corp. |
| Consensys Tech Companies | 17 Nov 2021 | $200M | $3.20B | Marshall Wace and Third Point |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Dream Sports raise in its Growth round?
Dream Sports raised $840M in its Growth round, announced in Nov 2021.
Who led Dream Sports' Growth round?
Falcon Edge, DST Global, D1 Capital, RedBird Capital Partners and Tiger Global led it, with TPG and Footpath Ventures.
What was Dream Sports' valuation at the Growth round?
$8.00B post-money ($7.16B pre-money).
How does it compare with other Growth rounds in Tech Companies?
431 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $56M, and this round was 15 times the median.