Dream Sports Revenue, Valuation, Funding & Investors

Dream Sports is valued at $5B as of March 2021, a 6.9x multiple on its last reported $723M revenue.

Last Dream Sports valuation

$5B

Secondary · Mar 2021

Dream Sports revenue

$723M

Secondary · Mar 2021

Key investors in Dream Sports

  • Tiger Global
  • TPG
  • TCV
  • D1 Capital Partners
  • Alpha Wave Global
  • Steadview Capital
  • ChrysCapital
  • Footpath Ventures

Dream Sports Overview

About Dream Sports

Dream Sports is a Mumbai-headquartered sports technology company operating brands like Dream11 for fantasy sports, FanCode for live streaming, DreamX for technology services, DreamSetGo for experiences, and DreamPay for payments. Founded in 2008, the firm expands fan engagement through content, commerce, events, and merchandising in cricket, football, and other sports across India.


Founded

2008

HQ

IndiaMumbai

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Commission

Revenue

$723M (Mar 2021)

Valuation

$5B (Mar 2021)

Dream Sports Valuation

Dream Sports is currently valued at $5B, based on its secondary sale in March 2021.

The $400M round was led by D1 Capital Partners and TCV, with participation from Footpath Ventures, Steadview Capital, Tiger Global, TPG, Alpha Wave Global and 1 other investor.

Dream Sports valuation by funding round

Dream Sports valuation by funding round
DateStageValuationRevenue Multiple
Mar 2021Secondary$5B6.9x

Dream Sports Revenue

Dream Sports' latest recorded revenue is $723M, as of its secondary sale in March 2021. At a $5B valuation, that implies a 6.9x revenue multiple.

Dream Sports revenue by funding round

Dream Sports revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2021$723M$5B6.9xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Dream Sports Funding History

Dream Sports has 1 recorded secondary share sale and no primary funding rounds.

Dream Sports funding rounds

Dream Sports funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2021SecondaryD1 Capital Partners (lead); TCV (lead); Footpath Ventures; Steadview Capital; Tiger Global; TPG; Alpha Wave Global; ChrysCapital$400M$5BDream Sports, the parent company of online fantasy sports platform Dream11, completed a $400 million secondary funding round in March 2021, achieving a valuation of approximately $5 billion. The round was led by prominent technology investors TCV (an early Netflix backer), D1 Capital Partners, and Falcon Edge, with participation from existing investors including Tiger Global, ChrysCapital, TPG Growth, Steadview Capital, and Footpath Ventures. Some early investors, including Multiples Alternate Asset Management and Kalaari Capital, sold portions of their stakes in this secondary transaction. Dream11 had grown to over 100 million users by the time of this funding round, nearly doubling its user base from the pre-pandemic level of 75 million. The company had recently become the title sponsor of the Indian Premier League (IPL) and had achieved profitability. The timing of the round coincided with the IPL season, which typically drives engagement in fantasy gaming on the platform. Dream Sports operates beyond fantasy gaming, with ventures including FanCode, a multi-sport aggregator platform offering content, commerce, and community engagement, and Dream Pay, a payments platform for online merchants. The company became India's first fantasy sports unicorn in 2019 and was continuing to scale its operations across multiple sports and digital properties at the time of this funding.

Who has invested in Dream Sports?

8 investors have backed Dream Sports across its funding rounds, including Tiger Global, TPG, TCV, D1 Capital Partners, Alpha Wave Global and Steadview Capital.

Lead investors include D1 Capital Partners and TCV.


Dream Sports Investors

Investors in Dream Sports by funding rounds participated
InvestorHQRoundsRoleFirst check
Footpath VenturesUnited StatesNew York City, NY1ParticipantMar 2021
Steadview CapitalUnited KingdomLondon1ParticipantMar 2021
TCVUnited StatesSan Francisco, CA1LeadMar 2021
Tiger GlobalUnited StatesNew York City, NY1ParticipantMar 2021
TPGUnited StatesSan Francisco, CA1ParticipantMar 2021
D1 Capital PartnersUnited StatesNew York City, NY1LeadMar 2021

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Acquisitions by Dream Sports

Dream Sports has acquired 1 company to date.

Last acquisition by Dream Sports was on August 16th 2021. Dream Sports acquired Rolocule Games for undisclosed valuation.


Latest Acquisitions by Dream Sports

Rolocule Games
Description
Rolocule Games is a Bangalore-based mobile game studio specializing in free-to-play mid-core titles that blend simple controls with strategic depth. Known for releases such as Gravity Switch and Totem Runner, the studio emphasizes polished design and player-centric mechanics to build enduring franchises. Founded in 2012, Rolocule targets global audiences through app stores like Google Play and Apple App Store, delivering arcade-style experiences with progression systems and multiplayer elements.
HQ CountryIndia
HQ City
Pune
Deal Date16 Aug 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Dream Sports Competitors

Dream Sports competitors include listed companies like FDJ United, Churchill Downs, Entain and Super Group SGHC, and private ones like Mobile Premier League and Dream11.

Public and private companies comparable to Dream Sports
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Mobile Premier LeagueIndiaBangalorePrivate$128M-$2.3B18.0x
Dream11IndiaMumbaiPrivate$273M$19M$8B29.3x
FDJ UnitedFranceFrancePublicly listed$4.2B$1B$4.7B1.6x
Churchill DownsUnited StatesUnited StatesPublicly listed$2.9B$1.1B$5.7B3.5x
EntainUnited KingdomUnited KingdomPublicly listed$7.1B$411M$4.3B1.4x
Super Group SGHCUnited StatesUnited StatesPublicly listed$2.2B$430M$6.5B2.4x

Dream Sports Public Comps

Dream Sports is still privately-owned, but its public comps include Nexstar Media Group, HYBE, Enlight Media, Nippon Television, FDJ United, RTL Group, Entain, Churchill Downs, Oriental Pearl Group and TBS Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Nexstar Media Group$4.9B$1.3B3.4x2.4x12.6x6.8x
HYBE$1.9B($17M)2.5x1.6x(287.1x)18.2x
Enlight Media$602M$299M7.4x12.6x14.9x27.0x
Nippon Television$3.1B$620M1.2x1.1x5.9x7.6x
FDJ United$4.2B$1B1.6x1.6x6.5x6.6x
RTL Group$6.9B$644M1.2x1.0x12.6x7.6x
Entain$7.1B$411M1.4x1.4x23.3x6.7x
Churchill Downs$2.9B$1.1B3.5x3.5x9.7x8.4x

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Common questions about Dream Sports

When was Dream Sports founded?Dream Sports was founded in 2008.
Where is Dream Sports headquartered?Dream Sports is headquartered in Mumbai, India.
Is Dream Sports publicly listed?No, Dream Sports is a private, VC-backed company.
What is Dream Sports' valuation?Dream Sports was last valued at $5B in its secondary sale in March 2021.
Who are Dream Sports' investors?Dream Sports' investors include Footpath Ventures, Steadview Capital, TCV, Tiger Global, TPG, D1 Capital Partners, Alpha Wave Global and ChrysCapital.
What is Dream Sports' revenue?Dream Sports' latest recorded revenue is $723M (March 2021).
What is Dream Sports' revenue multiple?Dream Sports' latest valuation implies a 6.9x revenue multiple ($5B valuation on $723M of revenue).
Which companies are comparable to Dream Sports?Companies comparable to Dream Sports include Mobile Premier League, Dream11, FDJ United, Churchill Downs, Entain and Super Group SGHC.
How many companies has Dream Sports acquired?Dream Sports has acquired 1 company, including Rolocule Games.

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