Click here to close now.




















Welcome!

News Feed Item

Daily Fantasy Sports Leader, FanDuel, Closes $70M Series D From Shamrock Capital Advisors, NBC Sports Ventures and KKR

FanDuel Inc, (http://www.fanduel.com), the global leader in one-day fantasy sports, announced today that it has closed $70 million in Series D financing. That brings the company’s total capital raised to $88 million. The latest investment round was led by Shamrock Capital Advisors, LLC, with NBC Sports Ventures and KKR participating. Existing investors Comcast Ventures, Pentech Ventures, Bullpen Capital, Scottish Enterprise, and serial investor Richard Koch also participated. Shamrock Capital Advisors’ Partner, Mike LaSalle, and Principal, Alan Resnikoff, have joined FanDuel's board and Rick Cordella, Senior Vice President and General Manager, Digital Media, NBC Sports Group has joined as a board observer.

“This level of investment from Shamrock, NBC Sports, KKR and our existing investors is a testament to FanDuel’s leadership in the one-day fantasy sports industry and the growth potential within this space,” said Nigel Eccles, CEO of FanDuel. “We couldn’t be more pleased to be able to make this announcement at the start of football season, as more users begin to embrace the one-day fantasy experience.”

With 41 million people playing fantasy sports, FanDuel is transforming the industry with its innovative one-day format and industry-leading partnerships with brands such as Yahoo, ESPN, CBS, NBC and the Orlando Magic. FanDuel has seen rapid growth over the past 12 months, represents 65% of the daily and weekly fantasy sports market, and expects to pay out more than $400 million to users in 2014.

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

FanDuel will use the funds to expand its teams in New York and Edinburgh, which are currently 106 employees strong. FanDuel will continue to introduce innovative, new products and features to its players across North America. Additionally, with this fantasy football season poised to be the biggest yet, this funding will help FanDuel reach a wider audience than ever before.

FanDuel differs from traditional fantasy sports in which league winners are only declared after the entire multi-month season ends. With FanDuel, the leagues can last just one day and prizes are paid out immediately after the relevant games have finished.

Mesa Global served as FanDuel’s investment bank for this round of financing.

About FanDuel

FanDuel is the leader in one-day fantasy sports, providing fantasy sports leagues that last just one day. Players can draft fantasy sports teams at any time in a wide variety of contests in head-to-head or multi-player contests. Players pay an entry fee for each contest and vie for cash prizes awarded to the player whose team generates the most fantasy points. Headquartered in New York with offices in Edinburgh, Scotland, FanDuel hosts fantasy football, baseball, hockey and basketball contests as well as college football and basketball across desktop, mobile and tablet platforms. FanDuel investors include Shamrock Capital Advisors, NBC Sports Ventures, KKR, Bullpen Capital, Comcast Ventures, Pentech Ventures, Piton Capital, Scottish Enterprise and Richard Koch. For more information, please visit http://www.fanduel.com or download the app from the Apple App Store.

About Shamrock

Shamrock Capital Advisors, LLC is a Los Angeles-based private equity firm with over $700 million of capital under management. Investing exclusively in the media, entertainment, and communications sectors, Shamrock partners with strong management teams and takes an active, collaborative approach to creating value in each investment. Shamrock is currently investing out of Shamrock Capital Growth Fund III, a $400 million fund raised in 2011. Shamrock’s current investments include FanDuel, Giant Creative/Strategy, Isolation Network, MarketCast, Mobilitie, PGOA Media, Screenvision and T3 Media. For more information, visit www.shamrockcap.com.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.

ABOUT NBC SPORTS GROUP

When the Comcast-NBCUniversal transaction was completed in January 2011, the sports assets of the two companies combined to form NBC Sports Group, which serves sports fans 24/7 with premier live events, insightful studio shows, and compelling original programming. The sports media company consists of a unique array of broadcast television, cable television, radio and digital sports assets, including NBC Sports, NBC Olympics, NBCSN (NBC Sports Network), Golf Channel, 11 NBC Sports Regional Networks, NBC Sports Radio and NBC Sports Digital. NBC Sports Group possesses an unparalleled collection of television rights agreements, partnering with some of the most prestigious sports properties in the world: the International Olympic Committee and United States Olympic Committee, the NFL, NHL, NASCAR, PGA TOUR, PGA of America, USGA, Churchill Downs, Premier League, MLS, Tour de France, French Open, Formula One, IndyCar and many more.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with ...
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. The DevOps approach is a way to increase business agility through collaboration, communication, and integration across different teams in the IT organization. In his session at DevOps Summit, Chris Van Tuin, Chief Technologist for the Western US at Red Hat, will discuss: The acceleration of application delivery for the business with DevOps
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...