LeBron James-Backed Fantasy Life Raises $7M in Second Funding Round
Posted on: July 7, 2025, 04:35h.
Last updated on: July 7, 2025, 04:35h.
- More than a dozen investors, including LeBron James, participated in latest funding round
- Company was started by fantasy football personality Matthew Berry
Fantasy Life, the fantasy sports and gaming company started by fantasy football personality Matthew Berry, announced it raised $7 million from more than a dozen investors in its second funding round.
The New York-based company said the capital will be used to launch its new platform and to finance the purchase of Guillotine Leagues, which is a unique spin on survivor football pick ‘em. This is the first capital raise for Fantasy Life since a 2023 seed round that brought in $2 million.
The funding has fueled the creation of a new fantasy ecosystem featuring improved technology, expanded tools, new content offerings, and a mobile-first experience designed for scale – reinforcing Fantasy Life as a premier destination for fans and marking the beginning of a transformative new phase, driving growth and innovation in fantasy sports,” according to a statement issued by the company.
Berry founded Fantasy Life in 2020, naming the company after his 2013 book by the same name. In 2022, he departed ESPN for NBC Sports because the Comcast unit promised him latitude and support to build out Fantasy Life. He’s now the betting/fantasy guru on Football Night in America and host of Fantasy Football Happy Hour on Peacock.
Big Names Participate in Fantasy Life Capital Raise
While Fantasy Life has just two funding rounds under its belt, it’s showing a knack for luring well-known investors. The $7 million was led by LeBron James’ and Maverick Carter’s LRMR Ventures and Jason Stein’s SC Holdings.
As is the case with LRMR, Jacksonville Jaguars owner Tony Khan and Miami Marlins co-owner Roger Ehrenberg invested in Fantasy Life a second time. David Blitzer’s Bolt Ventures, YouTube co-founder Chad Hurley, SUM Ventures, Wassserman Ventures, Fortnite co-creator Donald Mustard, former NFL star Larry Fitzgerald, and musician John Legend also participated in the $7 million capital raise.
“They join a roster of existing investors that includes NFL stars Josh Allen, Joe Burrow, Ja’Marr Chase, and Austin Ekeler. That support has helped spark major momentum, with Fantasy Life increasing revenue by 737% since launching in 2022, including a 230% jump from 2024 to the first half of 2025,” according to the statement.
Startups with ties to the sports betting industry have long attracted team owners, with now publicly traded DraftKings (NASDAQ: DKNG) and Sportradar (NASDAQ: SRAD) among the examples
Investors Embracing Fantasy Sports Operators
While there is lingering debate about the legality of daily fantasy sports (DFS) in California, investors are showing a willingness to embrace fantasy sports companies with several 2025 capital raises across the industry confirming as much.
Specific to Berry’s Fantasy Life, the company’s exponential revenue growth is likely a source of allure for investors as its status as something other than a traditional gaming company.
Fantasy Life doesn’t book bets or offer sweepstakes games. Rather, it focuses on analytics and research for bettors and fantasy football buffs. The site features an extensive betting section aimed at helping bettors make more informed futures and player prop wagers, but Fantasy Life doesn’t directly operate a sportsbook.
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