Business

Sequoia's second investment in Mexico: Draftea raises $13.2 million

Supported by LatAm's sports fans, Draftea pledges to create a community for them, where they can become the protagonist in their favorite games

Photo: Draftea's blog post

Draftea, the Daily Fantasy Sports (DFS) platform for Latin America announced a $13.2 million in funding from Sequoia, Kaszek and Bullpen Capital. This represents Sequoia’s second known investment in a company headquartered in Mexico – in 2018, it partnered with Zetta Venture Partners to invest in employee innovation management platform Rever.

Draftea will use the funding to finalize product development and keep hiring the best talent. 

Supported by LatAm’s sports fans, Draftea pledges to create a community for them, where they can become the protagonist in their favorite games. The company will launch in Mexico in this 2022 first quarter.

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It works like this: Sports fans will enter the Draftea world, draft a lineup, join a contest, and win prizes. They select their players–based on their knowledge and expertise of the game–build their fantasy team and earn points every time their player scores goals, completes passes, or even keeps a clean sheet in real matches. 

“We created Draftea because we want fans to have a way to live the match to the fullest—to grapple with every micro-moment. Draftea is a new goal within the original game. A new playing field, an extension of the fan’s passion,” said Alán Jaime, founder and CEO of Draftea, in a press statement.

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“Alán is the epitome of founder-market fit. He has an infectious passion for sports, understands what fans want and has identified a massive untapped opportunity in Latin America. The Draftea team is well positioned to quickly capture the Mexican market and be the second screen of choice for the 2022 World Cup,” said Konstantine Buhler, partner at Sequoia. 

*The first version of this news story informed that Draftea is Sequoia’s first investment in Mexico, but this is wrong. The first one was Rever, in 2018.

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