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Read Full BioFantasy Life, the fantasy sports platform founded by fantasy football expert and media personality Matthew Berry, has completed a $7 million seed round to support the launch of its new platform and the expansion of Guillotine Leagues.
The funding round, the company’s second after raising $2 million in 2023, was spearheaded by LeBron James and Maverick Carter‘s LRMR Ventures, as well as Jason Stein’s SC Holdings.
Matthew Berry has been widely recognized as a pioneer in fantasy sports writing since the early 2000s.
He served as ESPN’s Senior Fantasy Sports Analyst from 2007 to 2022. Berry left ESPN for NBC when the former didn’t allow him to co-own Fantasy Life. He now hosts NBC’s Football Night in America.
In a press release, Berry shared his excitement for the company’s growth:
“My entire adult life has been about helping fantasy players… Fantasy Life is the culmination of my decades of experience — a destination for every kind of player… We’re building a platform as obsessed with fantasy as we are… I can’t wait for everyone to check out the new features and win more titles.”
Star-Studded Support Fuels Rapid Growth
In addition to LeBron James, Maverick Carter, and Jason Stein, notable new investors include:
- Eberg Capital LLC, a private equity firm founded by Roger Ehrenberg, co-owner of the Miami Marlins and Alpine Formula One Racing
- Bolt Ventures, the family office of David Blitzer, co-founder of Harris Blitzer Sports & Entertainment
- Gerry Cardinale, Founder and Managing Partner of RedBird Capital
- Jeff Shell, Partner and Chairman of Sports and Entertainment, RedBird Capital Partners
- Chad Hurley, Co-Founder of YouTube
- Wasserman Ventures, the investment arm of global sports, music, entertainment, and culture company Wasserman
- Tony Khan, Owner of the Jacksonville Jaguars, Fulham Football Club, All Elite Wrestling, and TruMedia Networks
- SUM Ventures, founded by Garrett Gilbertson, includes NFL star George Kittle and retired Eagles Super Bowl Champion Brent Celek.
- John Legend, Emmy, Grammy, Oscar, and Tony (EGOT) Award Winning Artist
- Larry Fitzgerald Jr., Co-Founder of Trenches Capital and former NFL wide receiver
- Donald Mustard, Co-Creator of Fortnite and former Chief Creative Officer at Epic Games
Existing Fantasy Life investors include NFL stars Josh Allen, Joe Burrow, Ja’Marr Chase, and Austin Ekeler.
The support has helped Fantasy Life to grow at a rapid pace. Since launching in 2022, the platform’s revenue has increased by 737%. That includes a 230% jump from 2024 to the first half of 2025.
Reimagining Fantasy: Guillotine Leagues and Fantasy HQ
With the extra investment, Fantasy Life is expanding its innovative product offerings. The company acquired the Guillotine Leagues platform about a year ago and has since integrated it into its own platform.
Thanks in part to the new funding, the company unveiled a revamped version of Guillotine Leagues, including a fully redesigned app to enhance the player experience.
Guillotine Leagues is a high-stakes, elimination-style fantasy football format. Each contest starts with 4-18 teams, and each week, the lowest-scoring team is eliminated (guillotined).
After elimination, the team’s entire roster is placed back into the free-agent pool. That allows others protection against potential injuries and an opportunity to strengthen their rosters. The last team that remains standing at the end of the season is crowned the champion.
Fantasy Life says the format offers “unparalleled flexibility and excitement, ensuring that every player remains engaged and competitive throughout the season.” The platform highlights that, on average, users spend 22 minutes per session, indicating their high engagement.
The company is also rolling out Fantasy HQ, presented by Mike’s Hard Lemonade. Fantasy HQ is a personalized hub for player insights, real-time data, and league tools. Key features include:
- Syncing leagues across all providers for a fully customized experience.
- Custom trade, waiver, and start/sit advice, personally tailored to each user’s team, needs, and matchups.
- Mike’s Fantasy Scoreboard: an all-in-one command center with side-by-side views of all matchups, allowing users to track multiple teams and leagues simultaneously.
DFS Crackdowns Loom: Why Timing Matters for Fantasy Life
Fantasy Life’s announcement comes at a time when the fantasy industry’s attention is focused on California, the largest market in the US.
Last week, California Attorney General Rob Bonta issued a legal opinion that daily fantasy sports (DFS) are illegal under state law.
Bonta argued that DFS contests are not skill games, a topic raised by Underdog Fantasy in a failed lawsuit against the Attorney General.
Bonta also emphasized that the decisive factor in the outcome of DFS contests is the athletes’ on-field performance, which resembles wagering on horse racing or sports betting.
Furthermore, the Attorney General notes that operators collect fees and establish prize structures that are not contingent upon the number of entrants. This, therefore, makes the contests more similar to traditional gambling products than to recreational competitions.
It’s essential to clarify that Bonta’s opinion does not render DFS illegal in California, as the courts or the legislature can ultimately decide. He also did not state his opinion on traditional season-long fantasy contests.
Still, his opinion can trigger similar responses from other states, a trend already seen with pick ‘em contests. In these formats, users predict whether an athlete will exceed or fall short of a specific performance benchmark. That has drawn criticism, with some arguing it closely resembles player prop betting in traditional sports betting.
In response, several gambling regulars, including those from Arkansas, Florida, Illinois, Michigan, Kansas, New York, and Wyoming, have taken action against these contests.
Fantasy Life does not offer these DFS bets. However, it provides expert insights, projections, and recommendation tools for Pick ’Em contests hosted by partners like Underdog Fantasy.
The heightened scrutiny of DFS in California and elsewhere underscores the shifting regulatory landscape and the importance of diversified fantasy gaming offerings such as Fantasy Life’s Guillotine Leagues and Fantasy HQ.
