Fantasy sports startup FanDuel wants to raise another round at a $1 billion valuation

52 fanduelFacebookThe FanDuel team with Jerry Rice

Fantasy sports website FanDuel is “seriously considering” another round of funding that would give the startup a $US1 billion valuation, Fortune reports.

The New York-based startup just raised a $US70 Million Series D round in September 2014 from Karlani Capital, Scottish Investment Bank, Bullpen Capital, Pentech Ventures, Comcast Ventures, KKR, Shamrock Capital Advisors, and NBC Sports Ventures.

Since its founding in 2009, FanDuel has raised $US86.2 million.

According to Fortune’s Dan Primack, “FanDuel’s board of directors has not yet approved a new stock sale, but is talking about a round that likely would add at least another $US100 million to the company’s coffers. The goal would be to accelerate customer acquisition and pro sports partnership efforts, with an eye toward going public in 2016.”

FanDuel is a fantasy sports website for busy or casual fans. It lets users participate in one-day leagues, as opposed to having to commit to season-long leagues. The company says it pays out over $US10 million in cash payouts weekly, and has paid out $US600 million to date.

We’ve reached out to FanDuel for comment and will update this story when we hear back.

NOW WATCH: 14 things you didn’t know your iPhone headphones could do

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

fanduel sai-us