CollegeFanz Closes First Round Funding; More Than $2 Million

This story was written by David Kaplan.
Collegiate sports social net CollegeFanz has raised $2 to $5 million for its first round, according to the company. The company was founded by Bill Rasmussen, who was also behind the creation of *ESPN*. As we reported in September, the company's launch was backed by PE firm The Musser Group with an investment that ranged from $500,000-$1 million. The company did not specify how much Musser ultimately contributed this time out, nor did it identify any other backer who participated in the current round.

Aside from the usual social net features, CollegeFanz also has video streaming and other college sports related content. The network has nearly 5,000 communities in place for student and alumni participation. Every NCAA Division I, II, and III and NAIA college or university is included in the network. Release


By David Kaplan
  • CBSNews

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