FTN Network, a NYC-based fantasy sports and betting media company, raised over $3M in Seed funding.
The round was led by Perry Gershon and a TechStars investment fund.
The company intends to use the funds to expand operations and its business reach.
Founded by Kevin Adams, who is selling a majority of his equity to Gershon and taking on an advisory position with new responsibilities, FTN Network is a fantasy sports and betting media company with a suite of consumer products along with a sports data and analytics vertical that specializes in delivering business-to-business solutions. Founded in 2020, FTN gives the fantasy and sports betting community an edge through its own ecosystem, providing customizable tools that turn raw data into true insights while also offering expert analysis and content to help users make the most informed decisions possible.
Along with the raise, FTN saw growth in multiple areas of its business in Q3 of this year, headlined by over $1.05 million in quarterly total revenue, a 52% increase when compared to Q3 of 2022. The company expanded throughout the year, signing football data guru Aaron Schatz, creator of the industry leading DVOA analysis, acquiring new fantasy business tools that helped FTN widen its customer base, and launching The FTN Fantasy Show on SiriusXM Radio, a compliment to FTN President Jeff Ratcliffe’s own industry leading presence on CBS television and SiriusXM Radio.
FinSMEs
06/12/2023