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From Forbes.Com
SPORTSMONEY 11/26/2013 @ 11:59AM
$24 Million Investment In DraftKings Should Shake Up The Daily Fantasy Sports Space

“The biggest news in the daily fantasy sports space to date was the $11 million in Series C financing received by market leader FanDuel in January. It demonstrated that despite lingering concerns regarding the legality of such offerings, major venture capital firms including Comcast Ventures are willing to invest hefty dollars into these start-ups in order to capture the continual growth in the world of fantasy sports. Today’s announcement by FanDuel competitor DraftKings reiterates the implied security that venture capital companies must maintain, because the money keeps pouring in.”

“Boston-based DraftKings, Inc. has just declared that it closed a $24 million Series B round of funding led by Redpoint Ventures, with participation by GGV Capital, Atlas Venture, and BDS Ventures. This great source of financing comes only 6 months after DraftKings closed a $7 million Series A round led by Atlas Venture (also involved in the new round). Combined with the $1.4 million in seed capital DraftKings received in April 2012, the company has secured a total of $35 million from outside sources (DraftKings’ Series A remained open and ended at more than $10 million in funding). A very impressive number for a company that has been in existence for less than 2 years.” read more…

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