DraftKings treasury expands with $153m in funding

Sep 2, 2016 • Robert Lavine

The daily fantasy sports platform, which counts Fox Sports and sports leagues MLB, NHL and MLS as investors, raised the money in a down round led by Revolution Growth.

DraftKings, a US-based daily fantasy sports platform backed by a host of corporate investors, has raised $153m in new funding, Fortune reported yesterday.

Growth equity firm Revolution Growth led the round, according to TechCrunch, and Steve Murray, a partner at the firm, will take a board seat at the company.

Multiple sources told Fortune that DraftKings closed the funding at a “substantially lower” valuation than the reported $2bn post-money valuation at which it raised $300m in July 2015.

DraftKings…

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