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


shutterstock_47797855

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. 

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now

Sign up to our Newsletter

Receive updates from our PE HUB Wire and Top Stories of the Week newsletters:

We will not send you spam, and we don't share your email address with 3rd parties.