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FanDuel has successfully closed a $70 million Series D funding round
Friday September 5,2014 : FANTASY SPORTS FIRM RAISES MORE CAPITAL
FanDuel has successfully closed a $70 million Series D funding round.
Investor confidence in both fantasy sports and FanDuel is high following the company's announcement this week that it has successfully closed a $70 million Series D funding round led by Shamrock Capital Advisors, with NBC Sports Ventures and investment firm KKR participating.
The round was also well supported by existing investors Comcast Ventures, Pentech Ventures, Bullpen Capital, Scottish Enterprise and Richard Koch.
Fanduel has now raised a total of $88 million and is well placed to continue its success and growth in the one-day fantasy sports industry. The company already has solid partnership ties with popular brands including Yahoo, ESPN, CBS, NBC and the Orlando Magic basketball team.
Nigel Eccles, CEO of the company said Thursday: “We couldn’t be more pleased to be able to make this announcement at the start of the football season, as more users begin to embrace the one-day fantasy experience.”
Eccles revealed that Mike LaSalle and Alan Resnikoff, partner and principal of private equity firm Shamrock Capital Advisors, have joined FanDuel's board, and Rick Cordella, NBC Sports Group’s senior vice president and general manager, digital media, has joined as a board observer.
“We see FanDuel’s clear leadership in the one-day fantasy sports space and we wanted to help them accelerate their already explosive growth,” said LaSalle. “We look forward to working closely with FanDuel as they build out their web and mobile platforms and develop closer relationships with the leagues and media partners.”
Eccles says that FanDuel will use the funds to expand operations in New York and Edinburgh, which currently have staffs of 106 employees, and continue to introduce innovative, new products and features to its players across North America.
The company has reported strong growth over the past year, and boasts that it holds 65 percent of the daily and weekly fantasy sports market. Eccles estimates that the enterprise will pay users over $400 million in prizes and rewards this year.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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