Powering the intersection of Sports x Web3 with Podium
Fabric Ventures is thrilled to be leading Podium’s €2 million seed funding round alongside Sfermion and Seedcamp.
When the Fabric team started playing Sorare in January 2020 we loved the game so much it became evident we had to invest in their seed round a few months later. At the time we scraped data from various websites, to build out historic stats (and run probabilities for the replay tournaments deep in the covid sporting pause).
But one data wizard outdid us all — Maxime Hagenbourger (alias Hg) publicly launched SorareData which became the go to place for any aspiring Sorare player to check stats, prices, scores, expected performance and even build their upcoming line-ups.
SorareData rapidly became an indispensable tool for the community as was seen by their adoption and penetration of the user base. Today SorareData is used by almost every Sorare user — 80% of Sorare users use SorareData, and 12,000 are paying customers.
We love the product! Over the past 2 years we have been daily users of SorareData as much as we have been of Sorare.
At Fabric we have a firm belief that on-chain gaming will continue to thrive in many forms, and that specifically the intersection with the sports world will expand massively: games that are played on-chain but rely on off-chain / real world data streams of results, stats & scores. We have been lucky to closely follow data platforms such as Messari and Nansen that started off with niche data offerings and grew into the successful businesses they are today, and we believe Podium/SorareData is well placed to consolidate its leader position in the fantasy sports NFT analytics space.
Today we are proud to share that we led a €2m seed round for Podium — the company that will continue to build out SorareData’s platform as well as build new products for other sports NFT platforms — starting with ReignMetrics, the new analytics tool tailored for DraftKings’ Reignmakers game. Our friends at Sfermion are also joining the adventure alongside Seedcamp who is doubling down on their investment.
Fabric is a venture contributor: building, backing and accelerating the boldest ideas in Web3, to create a more open and fair economy. As a top European Web3 fund, Fabric focuses on being the “first institutional cheque” invested in companies, crypto assets and digital networks on a path to be global winners.
The Fabric team is made of founders and operators who have built companies to over $3 billion in value, and holds operational and investing experience from Google, PayPal, Sun Microsystems, Visa, Accel, Headline, and EQT. Fabric Ventures’ portfolio includes Sorare, NEAR Protocol, Immutable, Sky Mavis, Nansen, Consensys, Messari, Polkadot, Ledger, Ramp, YGG, Argent, 1inch, and The Graph.
For more information on Fabric’s portfolio, opportunities and our investment thesis please visit our website and follow us on Twitter & LinkedIn
