Startup fantasy app Locker secures $2m seed funding ahead of new feature launch
Funding round led by Hatchery Investments used to develop the DFS platform’s new Leagues feature which it’s set to debut
Daily fantasy sports (DFS) platform Locker successfully raised $2m in seed funding to help develop and launch its Leagues product vertical for its LiveFantasy Games app.
The funding round was led by New York-based firm Hatchery Investments, which specializes in supporting B2B companies.
The new Leagues feature for the app allows for any player to host their own custom league on Locker’s DFS platform.
League commissioners will be able to use Locker’s NFL Contest Platform to “tailor their specific Locker League down to the finest detail” such as league buy-in amount, payout structure, scoring system, and eligible games.
The feature was released to coincide with the 2024 NFL season, which commenced on September 6.
Locker runs at least one Locker Contest for each NFL game during the season, giving players ample opportunity to try out the new feature.
In addition to the product launch, Locker partnered with media brands and affiliate sites including RotoWire, FantasyPros, Ghetto Gronk, League Alerts and The 33rd Team to help raise awareness of the new product.
Each media partner will host its own League throughout the season, while producing bespoke content for players featuring popular streamers in the DFS space.
Leagues builds on the unique technology Locker developed LiveFantasy Games with, whereby players accrue points which can be exchanged for cash prizes by accurately predicting upcoming drives of NFL games by answering multiple-choice questions.
Locker co-founder and CEO Noah Bernstein said: “The introduction of Leagues is not only a gamechanger for Locker, it’s a legitimate needle-mover for the entire online gaming ecosystem.
“Our technology has made it possible for literally anyone—from the commissioner of a small fantasy football league to a local bar owner to a micro-influencer or higher-profile creator with an existing audience to a leading sports media brand—to create and host their own customized Locker League on our app.
“In contrast to traditional fantasy football leagues, Locker Leagues aren’t dependent on preseason player drafts so a commissioner can theoretically start a Locker League at any point in the season. We couldn’t be more pumped to launch this product for the new NFL season.”
Bernstein added: “We created Locker to bring people together and build community around football.
“We saw super high levels of engagement and stickiness with the first iteration of the contest product last year, which makes us confident the Leagues format is really going to resonate with new and returning users alike.”
Locker also has a football pick’em product, Locker Picks, which it is planning to roll out into the NBA and MLB in the coming month .