$25 million in a Series A round
Earlier this year, Rooter, a live audience engagement platform for sports fans, raised a total of $25 million in a Series A round led by Duane Park Ventures and Lightbox. The investment will allow the platform to scale its user base and expand its reach into new sports markets. In addition, the investment will enable the company to add new features and diversify its portfolio.
Founded in October 2016, Rooter provides users with the opportunity to participate in challenges, quizzes and interact with other users. It also offers a wide range of content ranging from games, sports and other events. The platform has a monthly active user base of more than 8.5 million.
In addition to providing the users with a live experience of the action, the platform allows them to access insights and high-quality stats. Using Big Data and machine learning, the platform enables users to interact with each other during a game or event. With the help of Rooter, users can also share multimedia posts with their friends and relatives, making it a social platform.
Rooter’s user base consists of college and school students. Currently, it is India’s largest gaming platform. Over the last 18 months, the company has experienced explosive growth. Since July 2017, the platform has added more than two million active users. Moreover, the company has recorded 35 million total engagements.
Founders of the startup are Dipesh Agarwal and Piyush Kumar. They aim to make Rooter a dominant player in the Indian creator economy. As the country’s gaming and e-sports space matures, the company plans to leverage its technology and talent to offer a variety of unique sports experiences to fans.
A&W Capital, a boutique investment bank, is advising Rooter. In addition, the firm has already invested in the startup through its international network. Moreover, the company has secured investments from marquee investors like Paytm, Anthill Ventures, Venture Catalysts and Founder Bank Capital.
The company is now planning to hire a large number of employees in Delhi to meet the demands of its growing customer base.
