Funding round
Sorare Seed
Sorare, which works in fantasy sports platform development in Saint-Mandé, raised $4.0M in a Seed round announced on 16 Jul 2020, led by Headline. 6 firms took part, with 1 individual investor. It is Sorare's first venture round on record.
$4.0M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Sorare did not disclose a valuation in this round. It is Sorare's first venture round on record, 2 years after it was founded in 2018. It is under 1% of the $684M Sorare has raised in the venture rounds on record. Sorare raised again 14 months later: a Series B round of $680M in Sep 2021, at $4.30B post-money.
Sorare's funding rounds
Sorare has 2 venture rounds on record. This one is highlighted.
- Seed this round 16 Jul 2020, led by Headline $4.0M
- Series B 21 Sep 2021, led by SoftBank $680M$4.30B post-money
Investors
Who put money in
Headline led the round with 5 other firms.
Lead investor
- backs 163 venture-backed companies new investor
Also in the round
- backs 182 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- Cygni Capital new investor
- backs 112 venture-backed companies new investor
Individual investors: André Schürrle.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,406 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.6M, and this round was 1.5 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 22 Jul 2020 | $9.2M | not disclosed | Amadeus Capital and Adara Ventures |
| Tech Companies | 23 Jul 2020 | $9.0M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 16 Jul 2020 | $8.5M | not disclosed | Andreessen Horowitz and Golden Ventures |
| Tech Companies | 24 Jul 2020 | $7.0M | not disclosed | not named |
| Tech Companies | 8 Jul 2020 | $6.9M | not disclosed | Kindred Capital and Crane Venture Partners |
| Tech Companies | 16 Jul 2020 | $6.5M | not disclosed | Hyde Park Angels |
| Tech Companies | 1 Jul 2020 | $6.0M | not disclosed | not named |
| Tech Companies | 7 Jul 2020 | $5.8M | not disclosed | 8VC |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Sorare raise in its Seed round?
Sorare raised $4.0M in its Seed round, announced in Jul 2020.
Who led Sorare's Seed round?
Headline led it, with Partech, Fabric, Semantic Ventures, Cygni Capital and Seedcamp.
What was Sorare's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
1,406 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.6M, and this round was 1.5 times the median.
Did Sorare raise again after this round?
Yes: a Series B round in Sep 2021 of $680M at $4.30B post-money.