FTN Network has successfully concluded its seed funding round, surpassing its $3 million target within just two months. The funding, led by investor Perry Gershon and a TechStars investment fund, has propelled FTN’s growth, notably achieving over $1.05 million in total revenue during Q3 2023—a remarkable 52% increase compared to Q3 2022.
Throughout the year, FTN has undergone significant expansion initiatives, including the addition of football data expert Aaron Schatz, the mind behind the leading DVOA analysis. The acquisition of new fantasy business tools has contributed to the broadening of FTN’s customer base.
Furthermore, the launch of The FTN Fantasy Show on SiriusXM Radio, complementing FTN President Jeff Ratcliffe’s prominent presence on CBS television and SiriusXM Radio, has further enhanced the company’s visibility.
FTN’s consumer subscription businesses are on track to exceed $1 million in annual revenue for 2023, reflecting nearly 60% growth compared to 2022. In a strategic move, Kevin Adams, FTN’s Founder and CEO, has sold a majority of his equity to Perry Gershon, assuming an advisory role with new responsibilities. Perry Gershon now steps into the role of FTN’s Chief Executive Officer, leveraging his extensive experience in commercial real estate finance.
Gershon expressed his commitment to building on FTN’s success in 2023, aiming to solidify its position as an industry standard for those seeking an advantage in sports betting or fantasy sports. Former FTN CEO Kevin Adams will continue to contribute to the company’s strategic direction as Chief Strategy Officer, occupying a seat on the expanded Board of Directors.
