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Shamrock Capital leads $70m Series D for fantasy sports website FanDuel

3 Sep 2014

footballPrivate equity firm Shamrock Capital Advisors has led a $70m Series D round for FanDuel, taking the fantasy sports website’s fundraising total to $88m.

NBC Sports Ventures and KKR also participated in the round alongside existing backers Comcast Ventures, Pentech Ventures, Bullpen Capital, Scottish Enterprise and Richard Koh.

FanDuel currently accounts for 65 per cent of the daily and weekly fantasy sports market, and expects to pay out more than $400m to users this year.

The company has partnerships with brands such as Yahoo, ESPN, CBS, NBC and the NBA’s Orlando Magic.

FanDuel said it will use the funds to expand its teams in New York and Edinburgh, which are currently 106 employees strong.

Shamrock Capital partner Mike LaSalle said, “We see FanDuel’s clear leadership in the one-day fantasy sports space and we wanted to help them accelerate their already explosive growth.

“We look forward to working closely with FanDuel as they build out their web and mobile platforms and develop closer relationships with the leagues and media partners.”

Last October Shamrock sold legendary basketball exhibition franchise the Harlem Globetrotters after owning the team for eight years.

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