The round was led by Multicoin Capital with participation from North Island Ventures, Crosslink Capital, Brevan Howard Digital, and others. The funding will be used to expand Mercury's leadership team as it scales to support a growing pipeline of athletic programs reimagining the fan experience.

Mercury was founded in 2021 to create an exclusive digital experience for top collegiate brands to bring fans closer to their favorite athletes and teams. The company partners with leading collegiate brands across sports to build hyper-local platforms for a modern fan experience. Its communities encompass dynamic conversations with and between athletes, specialized team content, and digital collectibles and passes to unlock special access for fans.