Locker Live has raised $2 million in seed funding to support the development and launch of its new "League" vertical business, which will expand its Daily Fantasy Sports (DFS) products.
This funding round was led by Hatchery Investments, which had previously launched a trivia-based DFS platform in 2023 and will proceed before the 2024 NFL season.
The newly launched league feature allows users to create and manage their own custom fantasy sports leagues using Locker's existing DFS platform.
The platform enables participants to answer multiple-choice questions based on live NFL games, predict game outcomes or which player will gain the most yards, etc.
Participants who predict accurately can earn points and compete for cash rewards. Unlike traditional fantasy football leagues, Locker Leagues do not rely on a preseason draft, and users can flexibly start or join leagues at any time during the season.
The league product offers customization options for users, including setting league buy-in amounts, payout structures, scoring systems, and selecting eligible NFL games.
These leagues are hosted and managed by Locker's iOS and Android mobile applications. Additionally, league managers can earn commissions through Locker's incentive system.
Locker has partnered with several media companies in the fantasy sports field, including RotoWire, FantasyPros, and League Alerts, to promote the new league feature.
These partners will create co-branded leagues for the 2024 NFL season and offer guaranteed prize pools and social communities within Locker's application. These collaborations aim to help increase the visibility of Locker's product among a broader audience.
Since its launch, Locker has positioned itself in the DFS market by offering a real-time prediction mode during NFL games. The app first launched a free play mode in 2023, which later expanded to include real money contests.
In 2023, Locker gained additional visibility through a collaboration with former NFL player DeSean Jackson, who hosted several contests through his Hall of Fame gaming platform. This partnership helped Locker establish influence in the fantasy sports market, especially among Jackson's audience during prime-time NFL games.
