Novig operates an order-book–based, commission-free sports trading platform that matches bettors directly against one another, eliminating the traditional sportsbook ‘vig.’ The exchange targets serious sports traders by providing transparent, market-driven odds and advanced trading tools. In 2025 the company posted a 10× surge in trading volume, and its annualized volume now exceeds $4 billion. Novig is seeking a Commodity Futures Trading Commission Designated Contract Market (DCM) license to make the platform accessible in all 50 U.S. states. The fresh capital will fund product expansion into additional markets, deeper liquidity, and first-of-its-kind functionality that blends financial-market innovation with live sports. Management is also onboarding institutional liquidity providers and has grown the team to over 50 employees to support these initiatives.

Total raised

$99M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2026