Fanatics Receives $225M Financing
Fanatics, Inc., a Jacksonville, FL-based online retailer of officially licensed sports merchandise, closed a $225m equity and debt financing.
The equity round of $150m was led by Insight Venture Partners, with participation from Andreessen Horowitz. The company also completed a $75m line of credit led by Bank of America.
The funds will be used to complete the acquisition of Dreams, Inc., as well as support future growth of the business.
Led by CEO Alan Trager, Fanatics provides e-commerce, merchandising, marketing and fulfillment services for professional sports leagues and teams, collegiate athletic programs and conferences, and other major sports properties.
The company leverages both its network of partners and its own collection of proprietary brands, including Fanatics (www.fanatics.com) and FansEdge (www.fansedge.com), to distribute goods to consumers all over the world..
Fanatics will also operate offices in the suburbs of both Philadelphia and Chicago.