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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.
Oink Country Love Slot Launches -
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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3 New Betsoft Slots -
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2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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