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

business development.

“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

co-founder.

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.

3. DraftKings

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

league.

About DraftKings:

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