Dallas Mavericks owner and billionaire investor Mark Cuban made a major announcement on Thursday morning, investing in Massachusetts-based daily fantasy sports startup Fantasy Labs. Based in Beverly, the company aims to help daily fantasy players achieve greater results, utilizing “cutting-edge data, tools, and content.” Essentially, Fantasy Labs doesn’t compete with existing companies in the industry like DraftKings or FanDuel, but pledges to help users on those sites.
Cuban didn’t disclose the amount of his investment.
Fantasy Labs co-founder Peter Jennings was ecstatic about the deal:
We are pleased to have the support of a visionary investor like Mr. Cuban, and are grateful for his support in our goal of creating an environment where fans can easily access and leverage sports analytics for actionable purposes. We’re especially excited for how Mr. Cuban’s influence on our organizational development will enable us to expand our analytics offerings into new areas like eSports games, as well as continuing to optimize our core competencies.
And here’s Cuban’s statement:
The explosive growth of fantasy sports, and its involvement with new categories of competition like eSports, increases the need for high-end resources like the platform offered by Fantasy Labs,. I’m excited to be involved with a company that is working to advance an industry that is poised for huge growth.
Jennings and fellow co-founder Jonathan Bales both have strong local ties, as each is listed as having done work as DraftKings analysts. And each are “DraftKings Pros.” Jennings was also an employee of former Boston daily fantasy company StarStreet before it merged with DraftKings.
Image via Brian Solis, CC By 2.0