Klay Thompson, the basketball legend, just made history in the tech sector.

The National Basketball Association (NBA) star’s Thompson Family Foundation invested in fantasy sports startup Sleeper in a $40 million fundraising round headed by venture capital firm Andreessen Horowitz, reportedly quadrupling its value to more than $400 million.


The money will go into “product development and hiring in areas including engineering, design, customer support, finance, and marketing,” according to Bloomberg.

According to Bloomberg, current sponsors General Catalyst and Birchmere Ventures, along with angel investors that included former NBA player Shane Battier and Miami Dolphins player Byron Jones, joined Andreessen Horowitz and Thompson.

Although Sleeper’s initial focus was on the NBA and the NFL, the pandemic’s effects forced them to expand into esports as well. This year, the startup also included college basketball.

Sleeper’s Chief Executive Officer Nan Wang told TechCrunch, “At first, the goal was to do arena sports and then strategically select esports that we thought would be big market opportunities.” “It is easier for us to push something that was further out on the roadmap when there are no sports involved.”

Wang is investigating “featuring soccer’s English Premier League, Major League Baseball, and Ultimate Fighting Championship,” according to Bloomberg.


“We believe we are a small but powerful team making games that unite friends, families, and coworkers. Sleeper historically refers to an underdog in sports that outperforms,” Wang told Bloomberg.

The Golden State Warriors player made a wise investment because the firm is situated in San Francisco. The software provides a platform for user interaction and networking in the sports world.

“Assisting sports enthusiasts in connecting with their friends is the core purpose of Sleeper’s multiplayer experience,” Andreessen Horowitz General Partner Andrew Chen stated to Bloomberg.

According to TechCrunc, Sleeper secured a $20 million Series B investment round in May 2020, led once more by Andreessen Horowitz. Other investors included NFL record breaker JuJu Smith-Schuster, NBA stars Kevin Durant and Baron Davis, and Twitch CEO Kevin Lin.