Draftkings Completes Venture Funding Round

Reaches target of $41 Million

Boston-situated fantasy sports start-up DraftKings has closed its latest venture funding round having reached its target of $41 million, the majority contributed by media and technology focused merchant bank, the Raine Group.

“DraftKings has established the optimal mix of cutting edge technology, broad industry knowledge and a deeply loyal user base to further push its leadership in this space, and we are delighted to partner with them as they continue to expand,” commented John Salter, partner at Raine Group.

The company will use the injection to expand its product offer, further develop its mobile channel, step up its marketing drive and hire developer talent.

Raine Group said DraftKings will continue to have its eye on competitor acquisition opportunities within the sector, the latest of which is the acquisition of daily fantasy sport operator StarStreet’s assets. StarStreet’s founders are reportedly moving on to other opportunities.

Online Casino News Courtesy of Infopowa

 

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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