Earlier this month, YEC member Erik Groset, CEO of Fantasy Sports Company, earned a seed investment of $450,000 from early investment firm Social Leverage. The funds will support the award winning LineStar mobile application, which helps players create the best possible lineups for fantasy sports.
Groset, recognized as a top 100 entrepreneur under the age of 30 by President Obama in 2012, co-founded Fantasy Sports Company with his brother Peter Groset. Before that, he was co-founder and inventor of Zipbuds, a one-of-a-kind design made to prevent earbud wires from tangling. Peter Groset was a senior software engineer at San Diego’s own ecoATM. With a passion for business and keen insight into what players were missing from the fantasy sports world, the brothers teamed up in California earlier this year to launch Fantasy Sports Company.
“At the heart of it, we invested because we see a huge market and believe Erik and Peter have the ability to build a brand that will complement the various core players in DFS," said Gary Bennett, Partner at Social Leverage, who invested in the duo.
LineStar’s algorithm-derived lineups take into account over 100 unique factors. With frequent updates and an easy-to-use interface, the app has gained applause from fantasy sports players because it helps them make more, money more often. Reviewer Jason Shade said in the App Store, "I would not build a fantasy lineup without checking this first.”
On a final note, Erik explains, "We're saving people time. You don't have to watch 10 hours of sports to compete in daily fantasy sports. Use your sports knowledge, along with the LineStar app and its wealth of research and resources to successfully compete on the top providers."
You can read more about the funding round on Social Leverage's site, here.