FanDuel operates a fantasy sports platform offering one-day game options for NFL, NBA, MLB, NHL and college football and basketball, targeting customers in the U.S. and Canada. The company was founded in 2010 as a spinout from HubDub in Edinburgh and is now headquartered in New York City. FanDuel announced a $275M Series E that it says was oversubscribed, bringing total capital raised to $363M and valuing the company at over $1 billion. The new capital will be used to boost customer acquisition across the U.S. and Canada and to accelerate new products, features and growth initiatives. FanDuel also plans to continue building out its management team and suggested the funding could be a step toward a future IPO. FanDuel operates a one-day fantasy sports platform that runs daily and weekly contests across desktop, mobile and tablet. The company highlights industry partnerships with media and sports brands including Yahoo, ESPN, CBS, NBC and the Orlando Magic. FanDuel says it represents 65% of the daily and weekly fantasy sports market and expects to pay out more than $400 million to users in 2014. The business supports fantasy football, baseball, hockey, basketball and college contests and serves players in head-to-head and multi-player formats. FanDuel currently staffs 106 employees with offices in New York and Edinburgh and plans to expand those teams. The company intends to continue introducing new products and features to reach a wider North American audience and deepen relationships with leagues and media partners. FanDuel is a New York-based daily fantasy sports game operator offering one-day fantasy football, baseball, hockey and basketball contests. Launched in 2009 by Lesley Eccles and CEO Nigel Eccles, the company enables consumers to draft teams for head-to-head or multi-player contests and compete for cash payouts. Over the past 12 months it developed mobile offerings and signed partnerships with Sports Illustrated and Sporting News. FanDuel has offices in Edinburgh as well as New York and employs 40 people. The company plans to use the funds to expand its teams in New York and Edinburgh and to continue introducing new features to players across North America. FanDuel runs daily and short-duration fantasy sports contests that pay out prizes immediately after games finish, positioning itself as a game of skill rather than gambling. The company focuses solely on U.S. sports and has operated this model since 2009. FanDuel is based in New York and Scotland. Its revenues grew fourfold over a six-month period reported in the article, and the site paid out over $10 million in fantasy winnings in 2011. The company said it planned to pay out up to $4 million per month for the baseball season. Competitors mentioned include DraftStreet and DraftKings. FanDuel operates a daily fantasy sports site offering short-term fantasy contests. The company has shown rapid growth: its payouts rose from $1.5 million last season to over $10 million in league winnings. It recently opened a New York office alongside existing offices in Edinburgh and San Francisco. FanDuel closed a $4 million Series B to support product development and hiring. The timing of the raise coincided with the start of the new NFL season.

Total raised

$361M

Funding rounds

5

Latest round

Series E

Latest activity

Jul 2015