By Nancy Dahlberg
Fans of Fanatiz, a global sports streaming service, might cheer this news: The Miami-based tech startup announced it has closed a $10 million Series A funding round from 777 Partners, a private investment firm.
The funding will support future growth of the streaming platform for distributing Latin America’s best soccer games to global audiences.
“The partnership with 777 Partners reflects our strong growth trajectory, and solidifies our positioning as one of the main contenders in a competitive sports streaming marketplace. We are more excited than ever to start 2020 bolstered by this new support, enhancing our platform for loyal soccer fans everywhere,” said Fanatiz founder and CEO Matias Rivera, in a statement.
Launched in 2016, Fanatiz offers fans and viewers the ability to watch matches live or on demand from their preferred sports networks and leagues, including beIN SPORTS, GOL TV, TyC Sports and RCN Nuestra Tele. Last year, Fanatiz launched a reduced subscriber pricing model for new and existing users, to help ensure continued growth. Since July 2019, the paid subscriber base has increased 125%, Rivera said.
An avid soccer fan himself, Rivera said he experienced first-hand the difficulties of following his beloved South American teams while traveling before launching Fanatiz in 2016. Rivera previously helped start four other ventures, including the accelerator Startup Chile and a Chilean crowdfunding site, and he participated in Batch 1 of 500 Startups Miami’s Growth Accelerator in 2018. “It gives our firm no greater satisfaction than to support organizations like Fanatiz that are working to become dominant players in fast-growing niche markets,” said Juan Arciniegas, Principal at the Miami-based 777 Partners.
Fanatiz customizes the entire online customer experience. Viewers select their favorite teams and receive ongoing news and updates. They can access Fanatiz from all screens by logging onto www.fanatiz.com on a PC, by downloading the app on iOS and Android smartphones or on TV by streaming from Roku, Amazon Fire TV, Chromecast and Apple TV, the company said.
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