PredictionStrike, where fantasy players can trade shares of professional athletes, today announced $10 million in Series A funding led by Bullpen Capital.
A year after PredictionStrike announced a $3 million seed round, it claims that it has handled $60 million in transactions and reached more than 175,000 customers. It predicts $100 million in trades within a year. PredictionStrike is currently live and licensed as fantasy sports in states that allow online games of skill.
Also investing in the PredictionStrike Series A round:
- MaC Venture Capital (Existing investor)
- Current investor Sixty8 VC (Existing investor)
- Correlation Ventures
- Elevate Capital
- HighSage Ventures
“PredictionStrike’s unique sports stock market brings together hardcore fantasy players, casual sports fans, and alternative asset collectors in one place and is defining the next generation of user engagement in sport,” said Paul Martino, Managing General Partner and Co-Founder of Bullpen Capital in a release. “We are proud to be investors in PredictionStrike as they double down on their commitment to connecting fans to the sports they love.”
PredictionStrike is one of a growing number of sites hoping to find a niche with bettors or fantasy players seeking a longer-term commitment than in outcomes of single games or seasons. Mojo launched last year with a similar concept and now offers fantasy in 19 states and is licensed as sports betting in New Jersey.
“There’s something revolutionary and fulfilling about helping Americans turn their pastimes into financial opportunities,” said Deven Hurt, Co-Founder and CEO of PredictionStrike. “With PredictionStrike, we’ve taken a new approach to participating in sports and leveled up to encourage and inspire our users to learn and understand how to invest. We’re committed to finding new ways to connect fans with athletes and building a platform where sports fans can invest in what they know”.
PredictionStrike was launched by co-founders Deven Hurt and Brad Chabra in 2019. A release described the app:
“PredictionStrike created a new way for fans to invest in and engage with their favorite athletes by trading virtual shares of them as if they were stocks. The platform operates like a real stock market, allowing users to buy/sell shares, build portfolios, and operate in a live market using real money. Share prices are determined by a player’s real-world performance, where each game/match acts like an earnings report, and the demand for shares in the market.”
PredictionStrike is Bullpen Capital’s latest foray into gaming, having funded FanDuel and Jackpocket as startups.