Dapper Labs, the company behind NBA Top Shot and Flow, has announced $250M in new funding

Led by Coatue, the new round brings together existing investors a16z, GV (formerly Google Ventures) and Version One Ventures with new investors including BOND and GIC. Dapper Labs’ marquee titles include NBA Top Shot, which is one of the world’s fastest growing marketplaces, as well as the consumer-facing Flow blockchain. According to a source familiar with the deal, Dapper Labs received a $7.6 billion valuation.

According to the announcement on Sept 22, Roham Gharegozlou, CEO Dapper Labs said: “Dapper Labs is growing quickly but we’re just scratching the surface of what this new technology can do for people. We’re excited to partner with our incredible investors to scale NBA Top Shot and launch our upcoming titles as well as unlock the potential of the open ecosystem building on Flow.”

Roham Gharegozlou, CEO of Dapper Labs

This latest round follows a year of exponential growth for Dapper Labs. While still in open Beta, its flagship NBA Top Shot grew by 30x in 2021, with more than US$780M in collectibles bought and sold, more than 1.1M registered accounts of which over 48% own at least one moment, and over 13 million transactions.

“Coatue has been investing in technology trends for over 20 years and web 3.0 is one of the most exciting trends we’ve seen. We think Dapper Labs is a leader in the space at the infrastructure level with Flow blockchain and in the application layer with NBA TopShot. We continue to be impressed by Roham’s strong leadership and vision and we could not be more proud to partner with him and the entire team at Dapper.” said Dan Rose, Chairman, Coatue Ventures.

As AZCoin News reported recently, Google Cloud was unveiled as Flow’s cloud provider, and came on board to drive the next wave of mainstream NFT adoption on Flow. In addition to supporting soon to hit experiences from UFC, Genies, Warner Music Group and more, Flow will be the home of fan and league driven experiences from Dapper Labs later this year and early next, including LaLiga.

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