PredictionStrike, a fantasy sports stock market that allows fans to buy and sell shares of professional athletes, announced yesterday that it has raised $10 million in Series A funding.
The round was led by Bullpen Capital, with participation from MaC Venture Capital, Sixty8 VC, Correlation Ventures, Elevate Capital, Gaingels, and HighSage Ventures.
The new funding will be used to expand PredictionStrike’s platform and reach new users. The company plans to add new sports leagues and countries, develop new features and products, and grow its marketing and sales team.
PredictionStrike is a unique and innovative way for fans to engage with sports. The platform allows fans to put their knowledge of sports to the test and potentially make money by making accurate predictions about the performance of athletes.
“There’s something revolutionary and fulfilling about helping Americans turn their pastimes into financial opportunities,” said Deven Hurt, Co-Founder and CEO of PredictionStrike. “With PredictionStrike, we’ve taken a new approach to participating in sports and leveled up to encourage and inspire our users to learn and understand how to invest. We’re committed to finding new ways to connect fans with athletes and building a platform where sports fans can invest in what they know”.
The company’s business model is based on charging fees and subscriptions. PredictionStrike charges a 2.5% fee on all trades, which is paid by the buyer or seller of the shares. Users also subscribe to receive lower transaction fees and gain access to other perks, such as the ability to trade more shares and participate in more contests.
PredictionStrike has seen rapid growth since its launch in 2021. It has over 100,000 users and has processed over $15 million in transactions.