Funding

Numberfire, Data Science for Fantasy Sports, Raises $650 K. Seed Round From RRE, David Tisch, Eliot Durbin

numberfire Numberfire, Data Science for Fantasy Sports, Raises $650 K. Seed Round From RRE, David Tisch, Eliot Durbin

No actual footballs were harmed in making of this startup

This is our second funding scoop of the day. Who wants to make it a hat trick?

Numberfire is a New York startup company taking an algorithmic approach to crunching data, helping fantasy sports nuts find the best players at the lowest prices. Founder and CEO Nik Bonaddio got his first $100,000 in seed capital from Regis Philbin, after starring in an episode of Who Wants to Be a Millionaire.

Nothing against Regis, but the company has now put together a slightly more tech savvy group of investors. Numberfire, a graduate of the recent ER Accelerator program, has raised a $650,000 seed round from investors that include RRE Ventures, Pennyblack’s Eliot Durbin and TechStars David Tisch.

That number will eventually rise to $750,000, but the startup closed on part of the round as they grow aggressively.

The young company has a number of big partnerships. They powered the football playoff predictions for ESPN and wrote a weekly column for the sports giant, along with weekly blog posts for Sports Illustrated. They have also developed a relationship with the fast growing SB Nation, who’s player prediction widget is powered by Numberfire.

“Our predictions for football this year beat Yahoo, ESPN and CBS, so we feel really good about our methodology,” Co-foudner and COO Sean Weinstock told Betabeat (you can see the proof here). “We’ve got 20,000 registered users now and are planning to expand to basketball and baseball in the coming months.”

8 weeks ago the startup caught flack in the blogosphere for predicting three teams from the AFC North would make the NFL playoffs. Low and behold, it happened. “We like to put our money where our mouth is,” Weinstock says.

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Comments

  1. Congratulations to Nick and team! They are real hustlers. The service continues to get better – it’s exciting to see it expand into the NBA!

  2. Joseph Sunga says:

    I love seeing companies dealing with sports data, especially with fantasy sports. Congrats guys! :)