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
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...