Fancred, an app that lets users capture their favorite sports moments and connect and interact with a community of fellow fans, announced today the completion of a $3 million financing round led by existing shareholders, Atlas Ventures and Militello Capital, as well as first time participant Breakaway Innovation Group.
Fancred was founded by Hossein Kash Razzaghi, Jeremy Merle, and Craig Johnson (all of whom previously worked at Brightcove), and Michael Pan.
I recently chatted with Kash, a Mississippi native who now has strong Boston roots having been here for eight years, about the funding and the company’s evolution since launching during Techstars.
“Last year,” Kash says, “Fancred was a place for people to go for news and information around their favorite teams. Now it’s evolved to a place for collecting and capturing moments and memories around your favorite team.” The news and information will, of course, still be a feature.
The app offers fans a digital scrapbook to collect memories, moments or events and share them with other fans and teams within the community. What’s more, Fancred is the perfect companion on game day, as it creates a virtual stadium and unites fans of the same teams as if they were watching the event together.
In discussing the investment, Kash said, “We see a real opportunity to offer fans and teams a new way to interact and connect. These funds will help our team continue to refine and grow our product on iOS as well as expand to other platforms including Android, which users can expect to see later this year.”
David Knies is the Chief Strategy Officer at Breakaway Innovation Group who entered this round as a first time investor. I reached out to Knies and asked him what he saw in the founding team and Fancred as an investor.
"At Breakaway, we help build consumer brands fueled by passion, with exceptional products, rabid user communities and awesome founders. Fancred checks all these boxes for us. I first met Kash + Jeremy while mentoring at Techstars Boston and was most impressed by their deep product focus + skills. At Breakaway, we were attracted to the team + culture they've built and their ability to attract a highly active and quickly growing user base that spends A LOT of time on Fancred. This team is going to do even more amazing things and we're proud to be their partner."
Connections to investors, such as Knies, as well as other visionaries and mentors were highlights to Fancred’s time with Techstars, but also highlights of being in Boston, which as Kash puts it, “where we’ll always be.”
Kash is well aware of the stigma around Boston and consumer tech and very much wants to debunk this thinking. Like many other Boston entrepreneurs, Kash is passionate about seeing consumer tech get the recognition it deserves in Boston.
“There are a lot of consumer tech companies doing great things in Boston,” Kash said “and I look up to the likes of RunKeeper, Wayfair and Lose It! and hope Fancred will some day be a company others look up to.”
Moving forward with this funding, Kash (whose interest in soccer and fandom of Liverpool FC has increased since the Football Club became a partner of Fancred), will be expanding the team through product and marketing hires as well as venturing into new markets and audiences.