FanDuel Inc., a New York-based operator of a platform for one-day fantasy sports, closed $70m in Series D financing.
The round was led by Shamrock Capital Advisors, LLC, with participation from NBC Sports Ventures and KKR existing investors Comcast Ventures, Pentech Ventures, Bullpen Capital, Scottish Enterprise, and serial investor Richard Koch. In cojunction with the Shamrock Capital Advisors’ Partner, Mike LaSalle, and Principal, Alan Resnikoff, joined FanDuel’s board. Rick Cordella, Senior Vice President and General Manager, Digital Media, NBC Sports Group joined as a board observer.
The company, which has raised $88m in total, intends to use the funds to expand its teams in New York and Edinburgh, which are currently 106 employees strong, reach a wider audience, as well as to introduce new products and features to its players across North America.
Led by Nigel Eccles, CEO, FanDuel provides fantasy sports leagues that last one day. Players can draft fantasy sports teams at any time in a wide variety of contests in head-to-head or multi-player contests. They pay an entry fee for each contest and vie for cash prizes awarded to the player whose team generates the most fantasy points.
The platform hosts fantasy football, baseball, hockey and basketball contests as well as college football and basketball across desktop, mobile and tablet platforms.
The company features partnerships with brands such as Yahoo, ESPN, CBS, NBC and the Orlando Magic.