Posted on September 9, 2016
Investors Are Betting on DraftKings; Fantasy Sports Startup Raises $1.4 Million in Seed Capital
Currently offering daily fantasy sports play options in
major league fantasy baseball, DraftKings will use the capital raised to
fund marketing and product development in anticipation of the 2012
fantasy football, fantasy basketball, and fantasy hockey seasons.
Angel Street, www.angelstreetcapital.com,
based in Providence, RI, provides equity capital to early stage digital
media companies. Daily payouts. DraftKings handles the transactions and
distribution of proceeds, freeing up precious administrative time.
With extensive backgrounds in marketing analytics, customer relationship
management, and technical development, the DraftKings start-up team is
poised to capitalize on the fast-growing daily fantasy sports market. Featuring daily fantasy sports
play and same-day settlement, DraftKings
makes playing fantasy sports simpler and faster for both seasoned and
casual players. “With a
deep understanding of successful gaming franchises, and expertise in
customer acquisition and retention, the team at DraftKings has the
potential to quickly achieve the top position in this market.”
About Hub Angels:
Fantasy sports games are considered games of skill in forty-four states,
making playing with financial stakes perfectly legal. For the casual player, daily play and the clean
and streamlined user interface demystify the fantasy sports experience,
removing common hurdles to adoption. Since inception in 1980, we
have helped build over 350 companies in more than 16 different
countries. For more information,
please visit www.atlasventure.com.
5. The firm works closely with
the CEO of its portfolio companies to leverage contacts and assist in
“While fantasy sports have been around for 50 years, online daily
fantasy sports is much younger and growing rapidly. The sector is ripe
for innovation via an analytical approach to marketing and customer
relationship management,” said Jason Robins, DraftKings CEO and
For the seasoned fantasy sports fan, DraftKings provides ready access to
their favorite games. For more information, please visit www.bostonseed.com.
“There’s an opportunity for a daily fantasy sports platform to dominate
the current field,” said Ryan Moore, partner at Atlas Venture. About Atlas Venture:
Boston Seed Capital provides seed stage funding for internet-enabled
businesses. No more going an entire season
with a poorly performing team. For those games involving financial stakes, players
can collect immediately.
The Hub Angel Group invests across industry sectors as part of its
diversification strategy. For those
playing with stakes, DraftKings offers the highest payout and deposit
match percentages in the sector.
1. A community at the ready to play. At the
same time, we are seeking to maximize data capture and test engine
flexibility for use in customizing future offerings,” said Paul
Liberman, co-founder and CTO. Onsite settlement. Players are never “out of contention”. On demand draft. “As sports fans, we understand that
the technology has to seamlessly support the way consumers intend to
play the games; our approach is overwhelmingly customer driven. For more information visit www.draftkings.com.
provides fans with comprehensive access to fantasy sports by stripping
away the most time intensive and obtrusive elements of conventional
play, distilling the game to players’ favorite aspects of fantasy sports:
4. Atlas Venture is currently investing from its eighth fund and
manages over $2 billion in committed capital. Founded in 2010, the firm’s current portfolio
represents over 15 investments in a number of areas including mobile,
marketing, data, and financial platforms. For more information, please visit www.hubangels.com.
To learn more about DraftKings, please visit www.draftkings.com.
6. No more hustling to round up a
Atlas Venture is a leading early-stage venture capital firm that invests
in technology and life sciences companies. Players can pick a new team whenever they choose,
which is much more fun than scrounging to substitute mid-season.
2. Our approach is
data-driven, but those themes underlay every customer-facing decision we
make,” said Matt Kalish, COO and co-founder.
. Daily fantasy sports games. Engagement remains high for the duration.
BOSTON–(BUSINESS WIRE)–DraftKings, an online fantasy sports startup, today announced that it
has closed a seed round of $1.4 million in a round led by Atlas Venture,
with participation from Boston Seed Capital, Hub Angels, Angel Street
Capital, and private angel investors. Thirty-two million
people play fantasy sports in the US and Canada, and two-thirds of all
fantasy sports leagues involve fees and payouts that are typically
managed offline by a designated member of the league. DraftKings
simplifies the process by handling financial transactions through its
site while collecting a commission on every stakes game.
DraftKings offers daily fantasy sports play with online settlement,
providing gamers with a low inertia, high reward way to play. Since 2000, Hub and its members have invested
more than $12 million in a broad range of sectors including financial
services, healthcare, water treatment, biotechnology, retail and
software as a service. Boston Seed Capital funds from Boston to anywhere, and
alongside exceptional entrepreneurs and teams with innovative
breakthroughs. No more season long commitments.
About Boston Seed Capital:
About Angel Street Capital:
DraftKings is the online gaming destination where players engage in
daily fantasy sports competition for cash. All players have the option of playing
daily fantasy sports games involving stakes or for free.
“Playing fantasy sports should be fun and easy