Vulcan eSports Daily Fantasy Site Raises $12 Million
Daily fantasy sports for video games, also known as eSports, is increasing in popularity even more so than the traditional (if you can call it that) daily fantasy sports sector. And a little known company just months ago, Vulcan, is leading the way.
The firm has secured investment funding to the tune of $12 million.
“We had no idea that in just 11 weeks we’d be receiving such an investment,” Vulcun co-founder Ali Moiz said.
“I am deeply humbled and grateful to the community for making this possible, and for making Vulcun the the No. 1 place where they choose to play fantasy eSports games.”
Those groups investing in Vulcan included:
- Matrix Partners
- Universal Music Group
- Battery Ventures
- CAA Ventures
- Crosscut Ventures
- Naval Ravikant (AngelList)
- Mark Pincus (Zynga)
- Kevin Chou (Kabam)
- Lars Buttler (Trion)
- Joe Kraus (Google Ventures)
- Steven Fan (Yahoo)
For those Gambling911.com readers unfamiliar with this type of daily fantasy sports model, PC Gamer explains the concept of Vulcan:
Players create a fantasy LCS team by assembling a roster of players within a limited team budget, then pit their team against lineups created by other fans. There are various types of daily contests, ranging from "standard" contests with entry fees ranging from $1 to $100, to 50/50 (half the players win), Double-Up, which doubles your money if you win, and Winner Takes All, which seems fairly self-explanatory.
Many of the biggest names in daily fantasy sports will be participating at the first ever Daily Fantasy Sports Expo in Miami Beach August 6 and 7. Vulcan is a company the DFSE organizers are certainly looking to go after as speakers, Gambling911.com can confirm.
- Aaron Goldstein, Gambling911.com
