DraftKings joined the Unicorn Club after raising multiple rounds, including a $154M Series E in Sep 2016, a $119M Series E in Mar 2017, and post-IPO strategic participation in Sep 2020, totaling $719M in funding. Headquartered in Boston, United States, DraftKings provides online fantasy sports, sports betting, iGaming products, and related media and analytics services. Funding supported product development, licensing, marketing, regulatory compliance, and technology scale to manage seasonal peaks.
Keep reading to see how DraftKings leverages technology and partnerships to grow its sports-tech ecosystem.
What Is DraftKings and What Does It Do?
Founded in 2012 by Jason Robins, Paul Liberman, and Matt Kalish, DraftKings is a Boston–based (United States) sports-tech and gaming company. The firm employs approximately 1,974 people and operates fantasy sports contests, regulated sports betting, iGaming products, and data analytics for user engagement.
DraftKings focuses on mobile-first experiences, real-time data, personalized promotions, and partnerships with sports leagues, teams, and media to broaden distribution and brand engagement.
How Much Funding Has DraftKings Raised?
1. Post IPO
- Amount Raised: Undisclosed
- Date: Sep 02, 2020
- Lead Investors: Michael Jordan (strategic participation), others
- Purpose: Support platform growth, licensing, and market expansion
2. Series E
- Amount Raised: $119M
- Date: Mar 09, 2017
- Lead Investors: Eldridge Industries
- Purpose: Accelerate product scale and distribution partnerships
3. Series E (Earlier)
- Amount Raised: $154M
- Date: Sep 01, 2016
- Lead Investors: Revolution
- Purpose: Market expansion and product enhancement
Total Funding Raised: $719M Latest Funding Date: Sep 2020 Current Valuation: Public market valuation varies
Key Investors
- Eldridge Industries
- Details: Private investment firm focused on media, insurance, and tech
- Focus Areas: Sports, media, fintech, consumer brands
- Notable Investments: DraftKings, The Street, MMA rights, Dad’s Garage
- Revolution
- Details: VC/PE firm backing early-growth consumer and tech companies
- Focus Areas: Consumer internet, marketplaces, sports tech
- Notable Investments: DraftKings, Zipcar, LivingSocial, Optoro
- Michael Jordan (Strategic Investor)
- Details: High-profile strategic participant boosting brand and distribution
- Focus Areas: Sports and entertainment partnerships
- Notable Investments: DraftKings, other selective sports investments
- Atlas Venture
- Details: Early-stage investor active in consumer and biotech
- Focus Areas: Consumer platforms, enterprise tech
- Notable Investments: DraftKings, Moderna, Indigo
- Redpoint Ventures
- Details: Venture firm investing across consumer and infrastructure companies
- Focus Areas: Consumer internet, mobile products
- Notable Investments: DraftKings, Twilio, Stripe, Netflix
Where Is DraftKings’ Headquarters?
DraftKings is headquartered in Boston, Massachusetts, United States, near major sports franchises, media partners, and technology talent.
What’s Next for DraftKings?
DraftKings will focus on expanding regulated market entry, deepening content and media partnerships, diversifying monetization via iGaming, and optimizing user lifetime value with data-driven offers.
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