Fanatics has closed a $350 million investment round. As the company reportedly gears up for an IPO, it is now valued at approximately $6.2 billion.
Fanatics has raised about $1.5 billion since 2011 and this is expected to be its last private funding round. It was led by Fidelity Management & Research Co. and Thrive Capital, and also included Franklin Templeton Investments and Neuberger Berman Group.
Past investors include SoftBank Group, the NFL, the NHL and MLB. Fanatics makes and sells licensed fan apparel and has deals with every major U.S. league and more than 150 colleges.
Fanatics Rundown:
— $2.5 billion in 2019 revenue.
— 30% online sales growth in 2020.
— $20 million revenue hit projected because of the pandemic.
— 80% of revenue comes from direct-to-consumer sales.
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