Diligence memo · auto-generated · as of July 2, 2026
Fanatics Holdings, Inc.
Fanatics Holdings, Inc. has raised $3.4B over 6 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Fanatics Holdings, Inc. operates in Gaming, based in NEW YORK. Fanatics offers the broadest assortment of fan merchandise and memorabilia worldwide.
Sub-sector tags: gaming.
Capital & rounds (filed)filed
Fanatics Holdings, Inc. has raised $3.4B in disclosed capital across 6 recorded rounds, aggregated from public filings. Its latest round is modeled as Growth/Late (a round over $400M).
Largest single filing: $1.5B on 2021-12-15.
Most recent recorded round closed around 2022-10-24.
Valuation (modeled)modeled
Provath models Fanatics Holdings, Inc. at approximately $9.9B (range $4.7B–$14.6B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 18 months.
Last raise 3.7 yr ago; this sector typically re-raises about every 12 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round was 2.2× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 100% of Gaming peers (344 compared).
Modeled value ranks above 100% of those peers.
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.