🏆 Deal of the Week · CW 38/2021
Sorare raised USD 680 million in a Series B round at a valuation of USD 4.3 billion, announced in September 2021. SoftBank led the round alongside a broad syndicate of institutional and strategic investors. The deal was recognised as Deal of the Week for KW 38/2021 by Venionaire DealMatrix.
Sorare — key deal facts
| Company | Sorare |
| Founded | 2018 |
| Headquarters | Paris, France |
| Amount raised | USD 680M |
| Valuation | USD 4.3B |
| Round | Series B |
| Investors | SoftBank (https://group.softbank/en) LionTree (https://www.liontree.com/) IVP (https://www.ivp.com/) Headline (https://headline.com/) H14 (http://www.h14.it/) Futury Capital (https://www.futurycapital.vc/) Eurazeo (https://www.eurazeo.com/en) D1 Capital Partner (https://www.crunchbase.com/organization/d1-capital-partners) |
| Sectors | Fantasy Sports |
Who invested in Sorare?
The round drew capital from SoftBank, LionTree, IVP, Headline, H14, Futury Capital, Eurazeo, and D1 Capital Partners. The syndicate is notable for its breadth: it combines a global technology growth fund (SoftBank), a media and sports-focused advisory firm (LionTree), seasoned consumer internet investors (IVP, Headline), and European institutional backers (Eurazeo, Futury Capital), alongside family office capital from H14. That mix reflects both the sports-media commercial angle and the broader NFT-driven gaming thesis that defined investor appetite in late 2021.
What does Sorare do?
Sorare is a Paris-based fantasy sports platform founded in September 2018 by Nicolas Julia (CEO) and Adrien Montfort (CTO). The platform allows users to build and manage virtual teams using blockchain-based digital player cards representing real professional athletes, with tournament results tied to those athletes' real-world statistical performance. Core products span fantasy football, basketball, and baseball, with the company holding exclusive partnerships with over 300 football clubs as well as MLB and NBA licences. Sorare maintains additional offices in New York City.
Sorare valuation & multiples
No existing multiples figures were provided for this deal. Comparable fantasy sports and NFT gaming platforms are typically benchmarked on EV/Sales and EV/EBITDA multiples; sector reference ranges are available on the Venionaire DealMatrix Fantasy Sports multiples pages. Analysts and investors are invited to consult those pages for current trading comparables and transaction benchmarks relevant to Sorare's valuation context.
Explore the benchmarks: Series B.
Frequently asked questions
How much did Sorare raise in its Series B?
Sorare raised USD 680 million in its Series B round, announced in September 2021.
What is Sorare's valuation?
Sorare was valued at USD 4.3 billion at the time of its Series B financing.
Who invested in Sorare?
The Series B investors include SoftBank, LionTree, IVP, Headline, H14, Futury Capital, Eurazeo, and D1 Capital Partners.
When was Sorare founded and where is it based?
Sorare was founded in September 2018 and is headquartered in Paris, France.
Source: original announcement — read the full report.