MINNEAPOLIS, MN: Starting 11 Inc., a Minneapolis-based fantasy soccer platform, has received backing in the form of a $5 million investment from Brand Capital, the strategic investment arm of Bennet, Coleman and Company Ltd (BCCL).
Starting 11 is the world’s first live-action daily fantasy soccer app. The app allows players to make substitutions to their fantasy squads in real time – just like a real-life soccer manager.
Starting 11, which currently offers free and real-money contests for players in the US, UK, Canada, and Germany, has now launched free contests on iOS and Android platforms in India.
Starting 11 will leverage the Brand Capital investment to expand into India and to drive user acquisition through The Times Group’s 360-degree media assets in India, which include the country’s most popular print, television, radio, and digital channels.
India, with a population of 1.4 billion people, is the fastest-growing emerging fantasy sports market in the world and has already produced a unicorn in the fantasy cricket space – Dream11.
“This deal brings Starting 11 into Asia in a big way, and Brand Capital and The Times Group are the best possible partners to help Starting 11 scale quickly and globally,” said Teague Orgeman, co-founder and CEO of Starting 11. “We’ve been insanely cash-efficient to date, and now we’re thrilled to have Brand Capital’s support – both in terms of marketing dollars and support from their expert marketing teams – to dramatically expand our user base. Starting 11’s partnership with Brand Capital represents an enormous vote of confidence in our team and our product and sets us up beautifully for future growth and profitability.”
“Any active one on one communication especially in the sports category will always be a winner especially when available on the mobile handset and more so in India which has a significant smartphone usage. Starting 11 is a company with a committed responsible eSports platform with a passionate co-founder in Teague Orgeman that we believe will energize the category in India and bring a world class fantasy gaming experience,” said Neville Taraporewalla, president, Brand Capital International based in San Francisco.
Starting 11 has also raised $790,000 in seed funding to date – primarily from local and regional angel investors.
“We are so grateful to the Minnesota angel investors and local startup leaders who believed in our team from the very beginning,” said Amanda Heyman, co-founder and General Counsel of Starting 11. “The startup journey is an emotional and financial rollercoaster, and it’s absolutely critical to have external support along the way.”
