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The Raine Group helps DraftKings raise $41m

26 Aug 2014

baseballFantasy sports website DraftKings has raised $41m in a Series C round led by The Raine Group.

Existing investors Redpoint Ventures, GGV Capital and Atlas Venture also participated in the round.

The round follows the Boston-based company’s $24m Series B raised in 2012 and led by Redpoint Ventures. It brings DraftKings’ fundraising total to $75m.

Over the past six months, the company has made two bolt-on acquisitions and saw record-bearking contests in multiple sports.

Raine partner John Salter said, “Daily fantasy sports represents a tremendous area for growth in the multi-billion dollar world of fantasy sports, and Raine is pleased to lead this investment round for DraftKings.

“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.”

Last week AltAssets reported that Raine had raised nearly $80m for its first venture capital fund.

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