Seven-figure raise with industry giants pushes valuation toward $100M, driving international expansion across largest fan segments
NEW YORK, NY, March 05, 2025 (EZ Newswire) -- FanUp, the premier platform for Gen Z, women, and casual sports enthusiasts to engage in sports and pop culture giveaways, sweepstakes, and fantasy contests, announced today an exclusive strategic financing round with Tru Skye Ventures and 9.58 Ventures—leading figures in the sports, gaming, athlete, and technology sectors.Tru Skye Ventures, a dynamic $100 million sports tech fund co-founded by NBA Champion Metta World Peace and former Boost Mobile CEO Stephen Stokols, joins forces with 9.58 Ventures, an elite collective of investors and thought leaders driving groundbreaking technological innovation across society.
The strategic financing round is elevated by the support of high-profile athletes and industry icons such as 9.58 Ventures’ co-founders and managing partners Fred Toney and Omar Sillah, investor and American tennis pro Frances Tiafoe, and general partners, NFL safety Jalen Mills, NFL linebacker Deion Jones, and longtime basketball pro and current NBA assistant coach David Vanterpool—all united in their mission to reshape the global future of sports and pop culture gaming for Gen Z consumers.
"I'm thrilled to welcome powerhouse partners like Tru Skye Ventures and 9.58 Ventures to our strategic round," said FanUp founder and CEO, Tej Bodiwala. "Collectively, we'll leverage strong network effects to unlock groundbreaking collaborations with the hottest brands, leagues, teams, and entertainers, to offer our ever-growing audience exclusive, once-in-a-lifetime experiences and prizes—while redefining the limits of our dynamic industry."
Funding will facilitate the platform’s continued growth, reach and innovation through partnerships, influencers, targeted campaigns, gaming features and contests, and bespoke prizing, such as exclusive drops and brand prizes, VIP watch parties, and fan experiences. This includes "The Bachelor"-inspired getaways to Grand Cayman, Puerto Rico, and Europe, designed to sweep fans off their feet.
“FanUp has unbelievable traction, and we are excited to help accelerate its continued growth,” said Stokols. “This latest round of financing brings together a dream team of advisors, and Metta and I are eager to add as much value as possible.”
“At the focal point of culture, growth, and experiences, FanUp epitomizes the type of investment we seek at 9.58 Ventures,” said Toney. “We are so enthusiastic about our involvement, especially at a time where the company is becoming a household name for sports and cultural experiences with the Gen Z audience. You couple their explosive growth with a top-talent team, and you’ve uncovered a winning formula with escape velocity.”
Unrivaled Growth and Engagement
Founded in 2021, FanUp continues to drive exceptional outcomes through an authentic approach to fan engagement and unparalleled user experience. Early milestones include:
- 41 brand collaborations and 105 college partnerships
- Growing community that drove more than 2.1 billion views across FanUp social media content in 2024 and 65 million views from four Super Bowl-themed reels last month (across TikTok, Instagram, and Snapchat)
- Legally compliant sweepstakes and giveaways classification across all U.S. states and users from 31 additional countries
Elevating Experiences Beyond Sports Betting
Traditional sports betting currently serves less than 9% of American fans. FanUp engages a broader and growing audience through an innovative, free-to-play model that offers interactive contests and personalized rewards across sports, pop culture, and entertainment.
From fantasy sports to reality TV-inspired experiences, such as immersive getaways based on “The Bachelor” or “Love Island,” FanUp guarantees every fan a seat at the table. With 76% of Gen Z and 50% of women engaged in reality TV, FanUp capitalizes on the content fans cherish most. It transforms content consumption into an unforgettable and interactive fan experience.
The Future of Fandom: Where Every Fan Wins
While conventional sportsbooks and fantasy platforms have struggled to resonate with Gen Z and female audiences, FanUp has solved the equation. The platform’s ability to deliver inclusive, interactive, and intricate social and brand-centric experiences has led to a diverse user base of 2.3 million global fans that includes 86% Gen Z and 55% women.
FanUp’s revolutionary platform has introduced the first-ever brand-immersed gaming experience and offers fans VIP Super Bowl trips, exclusive “The Bachelor”-inspired getaways, and premium brand rewards—creating a space where competition, social connection, and pop culture collide.
To learn more about FanUp and its growing roster of offerings, visit FanUp.app or download the platform via the App Store.
About FanUp
FanUp is the leading fantasy sports and pop culture gaming platform designed for Gen Z, women, and casual fans. With a one-of-a-kind mix of contests, rewards, and social-driven experiences, FanUp transforms the way fans engage with their favorite sports, leagues, brands, and entertainment. Learn more at FanUp.app or the App Store.
About Tru Skye Ventures
Tru Skye Ventures was founded by NBA Champion Metta World Peace and entrepreneur and executive Stephen Stokols. We not only provide capital to early-stage companies but also offer expertise in product development, distribution, partnerships and growth marketing. We have also assembled an extensive network of corporate partners and high-profile influencers to help our portfolio companies grow. For more information, visit truskyeventures.com.
About 9.58 Ventures
Founded by Fred Toney, Omar Sillah, Deion Jones (NFL), and David Vanterpool (NBA), the 9.58 Ventures team has collectively backed hundreds of companies and professionally excelled in business and sports. Focusing on the world's top performers in athletics and tech startups, with typical investment entry points at seed, Series A, and Series B rounds, we express our goal of achieving excellence by honoring Usain Bolt's historic 100-meter record—9.58 seconds.
Our mission is to support top entrepreneurs from diverse backgrounds who are building technology companies in health, sports, lifestyle and culture, alongside our team of world-class athlete investors. Believing that success comes from people of all backgrounds, we invest in early-stage startups, mentor their teams, and help build leading companies led by passionately driven founders. Wilson Sonsini Goodrich & Rosati, a leading Silicon Valley- and San Francisco-based law firm in the technology sector, is a major investor in the 9.58 Ventures portfolio. To learn more, visit 958vp.com.
Media Contact
Michael Chavez Booth
mcb@povagency.co
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