Dapper Labs Raises $250 Million in Latest Funding Round

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In Brief
  • The latest funding round was led by Coatue Management.

  • Dapper Labs also announced a deal with LaLiga for a soccer digital collectible collection.

  • The company secured millions in additional funding over the course of the last year.

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Blockchain-experiences developer Dapper Labs raised $250 million in its most recent funding round and announced another major NFT partnership. 

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The latest round of funding for Dapper was the second this year. Philippe Laffont’s Coatue Management led the round, with support from Andreessen Horowitz’s a16z, GV and Version One Ventures among others. While the company did not release their official valuation numbers, this round brought in $250 million. 

The previous round of funding was in March of this year, from which the company raised $305 million. Coatue also led that round and it included investors such as Michael Jordan and Kevin Durant.  

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According to Roham Gharegozlou, the co-founder and CEO of the company, this latest round highlighted Dapper Labs’ growth. “This round, for me, was much more about bringing the right partners around the table for our next leg of growth,”he said. “Earlier this year, we proved the concept for NFTs and I think we’ve seen the industry as a whole exploding — and we’ve got the platform that can power thousands of times more activity than we see today.”

In addition to the funding, Dapper announced a new partnership with LaLiga soccer league. Fans have access to collectible NFTs from over 10 seasons and team content from major teams. Those include Real Madrid, FC Barcelona, Atlético de Madrid, Sevilla FC and others. 

These will be available on Dapper’s Flow blockchain from June 2022. 

Dapper Labs and NFTs

After the wild success of Dapper’s NBA Top Shot series, the company plans an expansion into the entire sports world. “LaLiga is the first big league announcement that we’re making, but there will be more coming in the next few months as well,” said Gharegozlou. 

 Part of this round’s funding goes towards Top Shot’s expansion and mobile product, along with investments in companies on the Flow blockchain. Just last week on September 15th, Dapper Lab made another large announcement in regards to their partnerships. The company announced a collaboration with Google to power the Flow Blockchain and Web 3.0.

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Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

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