Private Valuation & Funding Round Tracker · Fanatics

Fanatics funding rounds & valuation history

Name: Fanatics Funding Rounds & Valuation History
Creator: growthnavigatefunding.net

Fanatics’ six closed funding rounds, from SoftBank Vision Fund’s $1B in 2017 to the $700M round at $31B in December 2022. Each row gives the amount, lead or named investors, valuation and its source. Fanatics rarely confirms rounds itself, so most valuations are as reported by CNBC, the WSJ and Bloomberg.

Last updated: 13 Nov 2026 (IST). Every figure re-checked against the linked sources that day. Rows: 6 Currency: US$, nominal

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Last valuation Closed

$31B

$700M round, 6 Dec 2022

Reported by CNBC and Bloomberg; Fanatics declined to comment.

Lead, last round

Clearlake

With LionTree, Silver Lake, Fidelity, SoftBank

$4.5B → $31B

6.89×

Dec 2022 ÷ Aug 2017 (GNF calc.)

Raised in closed rounds

$4.2B

Six rounds in this table, 2017–2022

Round history

Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.

Fanatics funding rounds, August 2017 to December 2022
Date	Status	Round	Amount	Lead / buyer	Valuation	Val. ÷ run-rate	Source
6 Dec 2022	Closed round	Funding round (reported)Last closed round. CNBC (Jul 2026) still calls it Fanatics’ “last public funding round”.	$700M“roughly $700 million” (Bloomberg)	Clearlake CapitalAlso: LionTree; existing investors Silver Lake, Fidelity, SoftBank	$31BReported by CNBC and Bloomberg citing people familiar; pre- or post-money not stated. Fanatics declined to comment (CNBC).1.15× vs prior closed	—Not disclosedNo run-rate stated in the announcement	CNBC, 6 Dec 2022Also: Bloomberg (via Bloomberg Law), 6 Dec 2022, CNBC, 18 Jul 2026
2 Mar 2022	Closed round	Funding roundNo single lead named. Leagues, players’ associations and team owners own about 10% of Fanatics after this round (TechCrunch).	$1.5B	NFL ($320M, the “single biggest investor”, per Fanatics via TechCrunch)Also: MLB and its owners, MLBPA, NFLPA, NHL, Blue Pool Capital (Joe Tsai), Qatar Investment Authority, BlackRock, Fidelity, MSD Partners	$27BReported by CNBC and TechCrunch; pre- or post-money not stated1.50× vs prior closed	—Not disclosedNo run-rate stated in the announcement	CNBC, 2 Mar 2022Also: TechCrunch, 6 Apr 2022
10 Aug 2021	Closed round	Funding round (reported)Funds to expand beyond merchandise, including sports betting (CNBC).	$325M	Not named; investors include Jay-Z and Roc Nation (CNBC)	$18B“sources told CNBC”; pre- or post-money not stated1.41× vs prior closed	—Not disclosedNo run-rate stated in the announcement	CNBC, 10 Aug 2021
Reported 24 Mar 2021	Closed round	Funding round (reported)CNBC: Fanatics “recently raised” the round; the close date is not given.	$320M	Not named; existing investors incl. Silver Lake, Fidelity, Franklin Templeton, Neuberger Berman, Thrive Capital, MLB (CNBC)	$12.8BReported by CNBC; pre- or post-money not stated2.06× vs prior closed	—Not disclosedNo run-rate stated in the announcement	CNBC, 24 Mar 2021
13 Aug 2020	Closed round	Series EUp from $4.5B (CNBC). Goldman Sachs was placement agent.	$350MTargeted at $250M; “oversubscribed” (CNBC source)	Fidelity, Thrive CapitalAlso: Franklin Templeton, Neuberger Berman	$6.2BReported by CNBC; pre- or post-money not stated1.38× vs prior closed	—Not disclosedNo run-rate stated in the announcement	CNBC, 13 Aug 2020
Aug 2017	Closed round	Funding round (reported)WSJ (8 Aug 2017): “scheduled to close this month”. TechCrunch (2022) confirms it closed at $4.5B. Earliest round in this tracker.	$1BSoftBank Vision Fund’s investment (WSJ)	SoftBank Vision FundAlso: NFL (~$95M) and MLB (~$50M), earlier in 2017 (WSJ)	$4.5B“total valuation” of $4.5B, up from $3B (WSJ, people familiar)	—Not disclosedNo run-rate stated in the announcement	WSJ, 8 Aug 2017Also: TechCrunch, 6 Apr 2022

“vs prior closed” = valuation ÷ the prior closed round’s valuation (GNF calc.).

Valuation at each closed round

Closed primary rounds. Pre- or post-money is not stated in any source.

SoftBank roundAug 2017$4.5B
Series EAug 2020$6.2B
RoundMar 2021$12.8B
RoundAug 2021$18B
RoundMar 2022$27B
RoundDec 2022$31B

Sources: WSJ, CNBC, TechCrunch, Bloomberg. US$ billions, linear scale.

Timeline

Each closed round, oldest first.

Aug 2017 · Closed
SoftBank Vision Fund invests $1B at $4.5B (WSJ).
13 Aug 2020 · Closed
Series E: $350M at $6.2B, led by Fidelity and Thrive Capital.
Mar 2021 · Closed
$320M at $12.8B, more than double the Series E (CNBC).
10 Aug 2021 · Closed
$325M at $18B; Jay-Z and Roc Nation join (CNBC).
2 Mar 2022 · Closed
$1.5B at $27B; the NFL is the biggest investor at $320M.
6 Dec 2022 · Closed
$700M at $31B, led by Clearlake Capital. This is the last closed round.

Still private: Fanatics has not filed to go public. CNBC (18 Jul 2026) reports it has been “rumored to be interested in going public”, but Michael Rubin said in 2025 that “There’s no rush to be a public company.” No round has been reported since December 2022.

Cite this dataset

Free to quote with a link back. Copy this citation:

Fanatics Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/fanatics/

Download the data

The same 6 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.

File: fanatics-rounds.csv (UTF-8, comma-separated)
Stable URL: https://growthnavigatefunding.net/wp-content/uploads/2026/11/fanatics-rounds.csv
Columns: id, date, date_precision, status, transaction_type, round, amount_usd_low, amount_usd_high, lead_or_buyer, co_leads, valuation_usd_low, valuation_usd_high, valuation_basis, valuation_to_run_rate_multiple, multiple_bound, multiple_basis, step_up_vs_prior_closed, price_per_share_usd_low, price_per_share_usd_high, shares, source, source_url, other_source_urls, notes, last_updated
Updated: 13 Nov 2026 (IST)

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Methodology & status definitions

How each row is labelled and calculated.

Closed round

A completed primary round reported by the press or confirmed by Fanatics. “(reported)” means the figures come from people familiar with the deal, not from Fanatics.

Valuation ÷ run-rate

Valuation ÷ the run-rate the company stated at that round (GNF calc.). Fanatics gives revenue forecasts, not a run-rate, so no multiple is shown.

What is not a separate row

Rounds before 2017. Rounds raised by Fanatics units (for example Fanatics Collectibles or Fanatics Betting & Gaming) rather than the parent. Revenue figures, secondary-market prices and IPO speculation.

Updates & corrections

This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.

Changelog

13 Nov 2026: Dataset first compiled: six closed rounds, 2017 to 2022, checked against the linked sources.