New round of investment raises $320 million, doubling the valuation of the ecommerce and retail platform specialist.
Fanatics has confirmed a new round of investment, which has seen the company raise $320 million at a $12.8 billion valuation.
The figure is more than double Fanatics’ previous valuation of $6.2 billion from just over six months ago, reported Sport Industry Group.
Fanatics runs ecommerce and retail platforms for the likes of Manchester United, Chelsea, Everton, The FA, Atlético de Madrid (pictured) and Paris Saint-Germain, as well as US sports leagues the NFL, NBA and the National Lacrosse League, plus The British & Irish Lions.
The new investment will be used to scale up its virtual commerce model – dubbed ‘vCommerce’ – and maximise ‘financial flexibility’ in a bid to pursue rights acquisitions and international expansion, as well as future business opportunities.
Since its last round of funding six months ago, Fanatics has acquired headwear brand Top of the World, plus licensed sports hardgoods company WinCraft as it looks to increase its presence from apparel only.
International expansion has come in the form of the launch of Fanatics China as part of a joint venture with private equity company, Hillhouse Capital.
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