The Raine Group leads $41 mln round for fantasy sports site DraftKings

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The Raine Group has led a $41 million Series C funding round for Boston-based fantasy sports site DraftKings.

Other backers included Redpoint Ventures, GGV Capital and Atlas Venture.

The current capital infusion brings DraftKings’ total funding to over $75 million.

In addition to the funding, DraftKings has also acquired the principal assets of Cambridge, Mass.-based daily fantasy site StarStreet. This acquisition comes a month after DraftKings bought New York-based fantasy sports site DraftStreet. No financial terms were disclosed for either deal.

Previously, DraftKings, which was launched in 2012, raised $24 million in Series B funding. Redpoint Ventures led the round with participation from GGV Capital, Jordan Mendell, Atlas Venture and BDS Ventures. A year ago, DraftKings raised $3 million from unidentified investors. And, in May 2013, the company snagged $7 million in Series A funding from Jordan Mendell and Atlas Venture.

Photo courtesy of Shutterstock. 

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