Funding round
Sorare Series B
Sorare, which works in fantasy sports platform development in Saint-Mandé, raised $680M in a Series B round announced on 21 Sep 2021, led by SoftBank, at a $4.30B post-money valuation. 10 firms took part, 3 of them already investors. It is Sorare's second venture round on record; the one before was a Seed in Jul 2020.
$680M
Amount raised
$4.30B
Post-money valuation
10
Investors
1 lead
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Sorare at $4.30B after the new money. The $680M bought investors about 16% of the company. It came 14 months after Sorare's Seed. It is 99% of the $684M Sorare has raised in the venture rounds on record. No later venture round is on record for Sorare.
Sorare's funding rounds
Sorare has 2 venture rounds on record. This one is highlighted.
- Seed 16 Jul 2020, led by Headline $4.0M
- Series B this round 21 Sep 2021, led by SoftBank $680M$4.30B post-money
Investors
Who put money in
SoftBank led the round with 9 other firms. Benchmark, Accel and Headline had backed Sorare before.
Lead investor
- SoftBank new investor
Also in the round
- Atomico backs 123 venture-backed companies new investor
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- D1 Capital new investor
- Eurazeo backs 103 venture-backed companies new investor
- Institutional Venture Partners backs 109 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- Benchmark existing investor
- Accel backs 581 venture-backed companies existing investor
- backs 163 venture-backed companies existing investor
Joined the board: Marcelo Claure (SoftBank Group International).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,032 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 23 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| DeepRoute.ai Tech Companies | 14 Sep 2021 | $300M | $1.00B | Alibaba Group |
| Tech Companies | 23 Sep 2021 | $130M | $642M | 9Yards Capital and Tiger Global Management |
| Tech Companies | 15 Sep 2021 | $125M | not disclosed | SoftBank Vision Fund and Sanabil |
| Factorial Tech Companies | 5 Sep 2021 | $80M | $500M | Tiger Global |
| Tech Companies | 14 Sep 2021 | $80M | not disclosed | Insight Partners |
| Tech Companies | 15 Sep 2021 | $65M | not disclosed | Insight Partners |
| Tech Companies | 28 Sep 2021 | $60M | not disclosed | Tiger Global |
| Tech Companies | 15 Sep 2021 | $54M | not disclosed | Tiger Global |
Sources
Where this comes from
Reported by 9 sources.
Questions
Frequently asked
How much did Sorare raise in its Series B round?
Sorare raised $680M in its Series B round, announced in Sep 2021.
Who led Sorare's Series B round?
SoftBank led it, with Atomico, Bessemer Venture Partners, D1 Capital, Eurazeo and Institutional Venture Partners and 4 more.
What was Sorare's valuation at the Series B round?
$4.30B post-money.
How does it compare with other Series B rounds in Tech Companies?
1,032 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 23 times the median.