View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Software
July 14, 2015

UK fantasy sports FanDuel raises $275 million

Company behind one-day fantasy league games has experienced great success in the U.S.

By James Nunns

FanDuel, a one-day fantasy sports games site, has closed its Series E financing raising $275 million.

The company has experienced fast growth in the U.S and this recent financing round places its valuation at $1bn.

Contributors included KKR, Google Capital and Time Warner as a number of NFL and NBA team owners also participated.

The company’s product is solely marketed in the U.S and Canada and offers one-day game options for major North American sports such as the NFL, NBA, MLB the NHL and college football and basketball.

FanDuel was originally a spin-out from Edinburgh University and employs 90 people in Scotland and a further 150 in the U.S. Although it is now based in New York City, it has a UK office in Edinburgh which houses most of its engineering, development and design teams.

The fantasy sports market can often be exciting at first for users, but participation levels drop off as a season drags on and your team starts to perform badly.

The idea behind FanDuel is that fans can participate in one-day leagues for a fee and win prizes, removing the delayed satisfaction of entering at the start of a season and hoping your team and players perform.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

The company has said that it will use the financing to increase customer acquisition efforts and to accelerate new products and features.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.