Fan-tastic: Fantasy sports developer DraftKings raises $7 million
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| May 6, 2013 | investment | Atlas Venture DraftKings | $7m |
Fantasy sport outfit DraftKings has closed a $7 million Series A funding round.
The Boston-based developer runs games covering baseball, football, basketball and hockey across web and mobile.
The round was lead by Atlas Venture, with DraftKings explaining it plans to use the money to further market its games and optimise the user experience.
Play to win
During its 12 months of operations, DraftKings, which will award more than $20 million in prizes during 2013, has gained more than one million users.
"DraftKings' average user spends over three hours per week on the site and plays 2.6 different sports," said CEO Jason Robins.
"We were amazed to see how popular fantasy basketball became with our fantasy football customers, and we are now seeing similar conversion from fantasy basketball to fantasy baseball. Our products provide a true second screen complement to the sports viewing experience, and we see our highest levels of engagement during the actual games themselves," he added.
"We remain bullish on the daily fantasy sports market and believe DraftKings is poised to become the leader in this exciting segment of the sports market," said Atlas Venture partner, Ryan Moore.
[source: BusinessWire]
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