News Release
FTN Network Leverages Strong Q1 2023 Growth to Close $500k Bridge Round From Techstars Sports Accelerator
FTN
FTN Network, a data company specializing in delivering affordable, customizable, extraordinarily detailed and accurate data for betting, season-long fantasy and daily fantasy today announced the closing of its $500,000 Bridge Round, which oversubscribed; with the help of Techstars, a global accelerator for technology startups. FTN was selected to participate in the Techstars Sports Accelerator Powered by Indy program in Indianapolis in April 2022. FTN is now actively raising a $3–5 million seed round to help expedite and scale the company, building on its robust early growth in traffic, subscription revenues and social media engagement. More specifically: Q1 2023 traffic was up 54% (year-over-year) across the FTN network of sites. Q1 2023 subscription revenue was up 34% (year-over-year) across the FTN network of sites. FTN YouTube views are up 32% (year-over-year) and overall subscribers are up 31% (year-over-year). FTN Podcast Network downloads are up 25% (year-over-year) “Our goal and mission with FTN was to create a fantasy and sports betting data company that allowed any user — from those with a limited budget to a top-of-the-line sportsbook — the flexibility to use our data and tools in ways that fit their specific needs. We never wanted to box our customers into a rigid system. Our exemplary year-over-year results are proof that our vision is filling a great need in the market,” said Kevin Adams, CEO of FTN Network. “The closing of our bridge round from the Techstars Accelerator is going to help us invest in areas of our business where we’re seeing strong engagement, create new strategic partnerships with providers, tech companies and sportsbooks, and expand our talent pool with new developers and advisors to continue scaling and building one of the most innovative sites in the industry.” In recent months, FTN has signed strategic partnerships with companies such as Sorare, Bettle and Prediction Strike, and rolled out two significant new tools which are gaining popularity with users and achieving significant traction in Google search results. First, its Same Game Parlay Tool on FTNBets.com takes APIs from the six largest US sportsbooks and compares a user's same game parlay line with FTN Data projections to create “True Odds.” This allows the user to stay away from bad payouts and shop for the best odds. Second is their Player Prop Tool, which shows the best player prop bets available using their FTN Data projections to calculate win%, edge and expected value while offering the best line on the market to place that bet. This allows users to leverage FTN Data to make the most educated player prop bets as possible. “As we look toward our next round of funding, our sights are focused on scaling our existing products and services, and integrating the NBA and PGA into FTN Data, all while expanding into the business-to-business (B2B) market with FTN Data. By investing in more charters (people watching games and collecting data in real time) we’ll have the ability to push our data to clients quicker, creating an opportunity for our users to make smarter and faster decisions,” said Stefano Vaccarino, FTN’s Chief Marketing Officer. “We at FTN are relentless in our approach to innovation and our goal of providing the most customizable data sets and products for each customer or corporation.” For more information on FTN’s products and services, please visit its network of sites: FTNFantasy.com, FTNDaily.com and FTNBets.com. About FTN Network FTN Network is a data and entertainment network for fantasy sports and betting. Founded in 2020, FTN Network’s family of sites include Fantasy, Daily Fantasy (DFS), Betting and Data. The company has over 50 content contributors to serve the fantasy sports and betting needs of fans across key sports, including NFL, NBA, MLB, NHL, PGA, eSports, Racing and more. About Techstars The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas — entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations and cities to help build thriving startup communities. Techstars has invested in more than 2,500 companies with a combined market cap of more than $220B. Contact Details Hot Paper Lantern Sterling A. Randle +1 801-319-6153 srandle@hotpaperlantern.com
May 01, 2023 12:35 PM Eastern Daylight Time
News Release
