Dallas Mavericks owner Mark Cuban has made an investment in daily fantasy sports company Fantasy Labs, reports Darren Heitner of Forbes.
“The explosive growth of fantasy sports, and its involvement with new categories of competition like eSports increase the need for high-end resources like the platform offered by Fantasy Labs,” Cuban said. “I'm excited to be involved with a company that is working to advance an industry that is poised for huge growth.”
Although the specifics of Cuban’s investment are not known, Fantasy Labs co-founder Jonathan Bales said it is a “significant enough amount of money to bring on a bunch of talented people so we really scale our product development to create new tools and expand to new verticals, as well as ramp up marketing efforts.”
Despite the hot water daily fantasy sports providers such as FanDuel and DraftKings have recently come under, Cuban appears to support these types of companies. The Shark Tank investor is set to be the keynote speaker at the Fantasy Sports Trade Association Winter Conference on Jan. 20 in Dallas.