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DRAFTKINGS COMPLETES $300M SERIES D FUNDING
Monday July 27,2015 : DRAFTKINGS COMPLETES $300M SERIES D FUNDING (Update)
Brings total third party funding to $426 Million.
Daily fantasy sports operator DraftKings, Inc. has secured a $300 Million Series D round of funding led by FOX Sports.
Other key investors were major North American sports leagues; Major League Baseball, the National Hockey League and Major League Soccer; leading sports organizations: The Madison Square Garden Company and Legends; as well as existing investors Atlas Venture, DST Global, GGV Capital, The Kraft Group, The Raine Group and Wellington Management Company LLP.
As the lead investor, FOX Sports will hold an approximate 11 percent in equity, the New York Times reports.
DraftKings indicated it will use the additional funding to expand its web and mobile products in current markets, expand into international markets and explore new opportunities for vertical expansion.
Since its launch in 2012, third party investment in DraftKings now amounts to an impressive $426 million.
"To receive this type of support from such an outstanding group of organizations, including three major sports leagues, is an incredible milestone for us and reaffirms our leadership position in Daily Fantasy Sports," said Jason Robins, chief executive officer of DraftKings, in a press release. "We intend to leverage these resources to develop even more innovative daily fantasy sports contests and provide new exclusive once-in-a-lifetime experiences for our players."
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