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Dibbs Announces $13 Million Series A to Scale Real-Time Fractional Sports Card Marketplace

·4-min read

Led by Foundry Group, this latest funding fuels product and geographic expansion as the NFT platform for collectors and sports fans comes out of beta

LOS ANGELES, July 27, 2021--(BUSINESS WIRE)--Dibbs, the only real-time fractional sports card marketplace, today announced its $13 million Series A financing round led by Foundry Group. Tusk Venture Partners, Courtside Ventures, and Founder Collective also participated in the round, as did a syndicate of superstar athletes, including Chris Paul, Channing Frye, DeAndre Hopkins, Kevin Love, Kris Bryant, and Skylar Diggins-Smith. Following a closed beta that kicked off in March of 2021, the Dibbs platform recently became available to all US-based users across iOS, Android, and the web.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210727005773/en/

Dibbs, the only real-time fractional sports card marketplace, today announced its $13 million Series A financing round led by Foundry Group. Tusk Venture Partners, Courtside Ventures, and Founder Collective also participated in the round, as did a syndicate of superstar athletes, including Chris Paul, Channing Frye, DeAndre Hopkins, Kevin Love, Kris Bryant, and Skylar Diggins-Smith. (Graphic: Business Wire)

"Our mission is to empower all fans to connect, collect, and capitalize on the real-time action inherent in sports. The Dibbs platform makes traditional collectibles more accessible and brings them to the forefront of fandom. We’re proud to partner with Foundry Group as we continue to open Dibbs up to more collectors worldwide," said Dibbs Founder and CEO, Evan Vandenberg. "Through Dibbs, owning digital interests in physical collectibles such as sports cards is now a reality. And as technology continues to disrupt legacy financial systems, consumers are growing accustomed to defining ownership beyond the physical. We believe our easy-to-use, mobile-first platform makes collectible trading an essential part of the fan experience."

Dibbs enables fans to buy and sell fractions of sports cards, in real-time. Physical assets available on Dibbs are assigned NFTs that are then fractionalized on blockchains including Ethereum, Flow, and WAX, with smart contracts defining ownership and other rights. Today’s new capital, which comes on the heels of a $2.8 million seed round announced in March 2021, enables Dibbs to scale its team, add new product verticals, and expand globally. Dibbs is already resonating with collectors. During its limited iOS, invite-only beta that ended earlier this month, Dibbs processed millions of dollars across more than 110,000 trades.

"Evan and the Dibbs team are transforming traditional collectible marketplaces by eliminating significant barriers to entry: rising card prices, data fragmentation, lack of liquidity, and fee sensitivity," said Foundry Group Co-founder and Managing Director, Seth Levine. "We’re thrilled to back an ambitious team creating an entirely new and exciting market that truly puts fans and collectors at the core of their product and technology."

"Social media was just the beginning. As new digital platforms are created, what it means to be a fan evolves and it creates new meaningful ways to connect with fans," said Chris Paul, Point Guard for the Phoenix Suns and 11 Time NBA All Star, who invested in the round. "Dibbs levels the playing field for fans for whom the current collectibles market is inaccessible. I’m excited to support Evan and the team as they enable fans to engage in new ways with the athletes they care about most."

Headquartered in Los Angeles, California, today’s financing brings Dibbs’ total funding to $15.8 million. Dibbs is available on iOS, Android, and the web. To join the team, please visit https://jobs.dibbs.io/.

About Dibbs

Dibbs is empowering fans to connect, collect, and to capitalize on the action of a market that moves with the moment. The company enables fans to trade in the only real-time, 24-7 fractional sports card market. It was founded in 2020 by Evan Vandenberg (Founder and CEO), a passionate sports fan who used his blockchain experience to create the NFT-backed foundation of the Dibbs marketplace. Dibbs is available on iOS, Android, and the web. Visit www.dibbs.io to learn more.

About Foundry Group

Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet, and software startups. In addition to providing the necessary venture capital to get a company up and running, Foundry Group is committed to leveraging their experience in starting and growing companies, expertise in the technology industry, and network of relationships to help great entrepreneurs turn great ideas into great companies. Foundry Group is based in Boulder, Colorado, and invests in companies located across the United States. For more information, visit www.foundrygroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210727005773/en/

Contacts

Kate Gundry
dibbs@pluckpr.com

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