Candy Digital Raises $100M in Series A Funding; Valued At $1.5 Billion

Candy Digital, a NYC-based digital collectible (NFT) company, completed a $100m Series A financing round.

The round, which valued the company at $1.5bn, was co-led by Insight Partners and Softbank Vision Fund 2 with participation from Connect Ventures, Creative Artists Agency (CAA), New Enterprise Associates (NEA), Will Ventures, Gaingels, Com2Us, Athletes Syndicate in partnership with Chaos Ventures.

The company intends to use the funds to integrate new sports relationships and accelerate the growth of its global team and capabilities across its creative content studio, user experience team, and marketplace platform where fans can buy, trade, sell and store their NFTs, as well as to scale its recruiting, marketing, customer success and engineering groups.

Co-founded by Michael Rubin, CEO, Fanatics; Mike Novogratz, founder and CEO, Galaxy Digital; and Gary Vaynerchuk, Serial Entrepreneur and Investor, Candy Digital is building Major League Baseball’s official NFT ecosystem where fans and collectors will be able to purchase, trade, and share officially licensed NFTs. The company recently announced plans to expand beyond merchandise and unlock new verticals across the sports ecosystem, including NFTs through Candy Digital, trading cards, online betting, iGaming and more.

Current partners include Major League Baseball (MLB), Major League Baseball Players Association (MLBPA), the Race Team Alliance (RTA) and several notable college athletes.