FanAI, an audience management platform that is helping brands target sports fans beginning with the esports industry, announced this week the closing of a seed funding round supported by several sports technology venture capitalists and the founder of DraftKings, Jason Robins.
The company also announced a partnership with DreamHack, one of the world’s largest esports event and computer festival organizers. DreamHack operates as a division within MTG, which also owns the Electronic Sports League (ESL).
The round was led by Deepen Parikh of Courtside Ventures and also included Greycroft GC Tracker Fund, a new fund focused on augmented reality, virtual reality and esports, as well as CRCM Ventures, Sterling.VC, Loot Ventures, Expansion VC, QB1 Ventures, Rosecliff Ventures, Catalyst Sports, Nex3, Everblue Management and Jordan Rambis, the former vice president of business development at aXiomatic, an esports and gaming investment group.
The size of the funding round was not officially disclosed, however Forbes valued it at $1.8 million.
In a statement, FanAI CEO Johannes Waldstein said the caliber of the investors in the round underscores the demand by rights holders and sponsors to analyze esports and fans with in-depth analytics and to utilize tools that measure return on investment (ROI).
Get The Latest Sports Tech News In Your Inbox!
The platform, he said, provides “a deep understanding of each fan,” which has become increasingly desirable as the esports community – comprised mostly of teenagers and 20-year-olds that are among brands’ core target demographic — continues to balloon.
FanAI has a particular focus on matching less mainstream brands with potential customers. Using artificial intelligence, it pulls data about fans from a variety of sources, including social media feeds and purchase histories. It then analyzes that data so clients can better predict buyer behavior and drive monetization.