Nearly 60 million people play fantasy sports in the U.S. and Canada. Likely the same number want to improve their odds of selecting top-performing athletes.
The aptly named Fantasy Sports Co. promises to help players do just that.
Started around two years ago, the company makes three different web and mobile apps: LineStar for DraftKings, LineStar for FanDeal and LineStar for Yahoo Sports-Daily Fantasy. All do the same thing, albeit tailored for the individual fantasy sports network in question; the apps help you make better picks.
Specifically, Fantasy Sports Co. has developed a patented algorithm that considers more than 100 different data sources to make detailed projections on how athletes will perform in each game, race or match. The formula considers obvious factors such as weather, venue and opponent. It also delves into more nuanced aspects that might affect game-day outcomes, including historical performance, opinions from doctors and Twitter chatter.
"(Our projections) are similar to how people speculate on stocks and securities," said Erik Groset, CEO of Fantasy Sports Co. "We're presenting data in ways that people can understand and digest the information."
The company's detailed projections, which are tracked over time, are designed to set it apart from competitors in the space.
"I thought it was very interesting," said Tim Rout, a member of Tech Coast Angels, an angel investor group. "I'm not a fantasy sports guy so it's hard to judge, but if I were playing ... I would want all the information possible."
Fantasy Sports already has a money-making plan in place. The company charges for its LineStar apps, with subscriptions costing $4 per week or $10 per month. But Groset believes subscribers get what they pay for.
"A lot of people will make projections, and then you won't ever see that projection again. You won't know that they predicted Rivers would do great this season and he had a huge flop," he said, referring to San Diego Chargers quarterback Philip Rivers. "For us, we display all of our projections, so you can see if we're spot on for a player or dead wrong on a player."
Fantasy Sports Co. apps also cover unexpected sports for the fantasy realm. That means users can track PGA golfers, follow NASCAR races and get projections on WNBA athletes.
Already, the startup, which has raised $400,000 in seed funding, attracts between 20,000 and 50,000 monthly users, depending of which sports are in season. And with football now in season, those numbers should go up.
