Sep

09

Investors Are Betting on DraftKings; Fantasy Sports Startup Raises $1.4 Million in Seed Capital


Thirty-two million

people play fantasy sports in the US and Canada, and two-thirds of all

fantasy sports leagues involve fees and payouts that are typically

managed offline by a designated member of the league. Engagement remains high for the duration.

Angel Street, www.angelstreetcapital.com,

based in Providence, RI, provides equity capital to early stage digital

media companies. Boston Seed Capital funds from Boston to anywhere, and

alongside exceptional entrepreneurs and teams with innovative

breakthroughs. Daily fantasy sports games. For more information visit www.draftkings.com.

3. DraftKings

provides fans with comprehensive access to fantasy sports by stripping

away the most time intensive and obtrusive elements of conventional

play, distilling the game to players’ favorite aspects of fantasy sports:

DraftKings is the online gaming destination where players engage in

daily fantasy sports competition for cash. Since 2000, Hub and its members have invested

more than $12 million in a broad range of sectors including financial

services, healthcare, water treatment, biotechnology, retail and

software as a service. On demand draft. No more going an entire season

with a poorly performing team. DraftKings

simplifies the process by handling financial transactions through its

site while collecting a commission on every stakes game.

6. No more hustling to round up a

league.

About Boston Seed Capital:

DraftKings offers daily fantasy sports play with online settlement,

providing gamers with a low inertia, high reward way to play. The firm works closely with

the CEO of its portfolio companies to leverage contacts and assist in

business development.

. A community at the ready to play.

About DraftKings:

For the seasoned fantasy sports fan, DraftKings provides ready access to

their favorite games. Players can pick a new team whenever they choose,

which is much more fun than scrounging to substitute mid-season.

5. For more information,

please visit www.atlasventure.com.

The Hub Angel Group invests across industry sectors as part of its

diversification strategy. Daily payouts. For more information, please visit www.bostonseed.com.

“There’s an opportunity for a daily fantasy sports platform to dominate

the current field,” said Ryan Moore, partner at Atlas Venture. “With a

deep understanding of successful gaming franchises, and expertise in

customer acquisition and retention, the team at DraftKings has the

potential to quickly achieve the top position in this market.”

Atlas Venture is a leading early-stage venture capital firm that invests

in technology and life sciences companies. For the casual player, daily play and the clean

and streamlined user interface demystify the fantasy sports experience,

removing common hurdles to adoption. The sector is ripe

for innovation via an analytical approach to marketing and customer

relationship management,” said Jason Robins, DraftKings CEO and

co-founder.

4.

“Playing fantasy sports should be fun and easy. Our approach is

data-driven, but those themes underlay every customer-facing decision we

make,” said Matt Kalish, COO and co-founder.

2. Currently offering daily fantasy sports play options in

major league fantasy baseball, DraftKings will use the capital raised to

fund marketing and product development in anticipation of the 2012

fantasy football, fantasy basketball, and fantasy hockey seasons.

About Hub Angels:

“While fantasy sports have been around for 50 years, online daily

fantasy sports is much younger and growing rapidly. Players are never “out of contention”. For more information, please visit www.hubangels.com.

Fantasy sports games are considered games of skill in forty-four states,

making playing with financial stakes perfectly legal. Since inception in 1980, we

have helped build over 350 companies in more than 16 different

countries. “As sports fans, we understand that

the technology has to seamlessly support the way consumers intend to

play the games; our approach is overwhelmingly customer driven. Onsite settlement. DraftKings handles the transactions and

distribution of proceeds, freeing up precious administrative time.

With extensive backgrounds in marketing analytics, customer relationship

management, and technical development, the DraftKings start-up team is

poised to capitalize on the fast-growing daily fantasy sports market. No more season long commitments.

BOSTON–(BUSINESS WIRE)–DraftKings, an online fantasy sports startup, today announced that it

has closed a seed round of $1.4 million in a round led by Atlas Venture,

with participation from Boston Seed Capital, Hub Angels, Angel Street

Capital, and private angel investors. For those games involving financial stakes, players

can collect immediately.

To learn more about DraftKings, please visit www.draftkings.com.

About Atlas Venture:

About Angel Street Capital:

1. For those

playing with stakes, DraftKings offers the highest payout and deposit

match percentages in the sector.

Boston Seed Capital provides seed stage funding for internet-enabled

businesses. Atlas Venture is currently investing from its eighth fund and

manages over $2 billion in committed capital. At the

same time, we are seeking to maximize data capture and test engine

flexibility for use in customizing future offerings,” said Paul

Liberman, co-founder and CTO. All players have the option of playing

daily fantasy sports games involving stakes or for free. Featuring daily fantasy sports

play and same-day settlement, DraftKings

makes playing fantasy sports simpler and faster for both seasoned and

casual players. Founded in 2010, the firm’s current portfolio

represents over 15 investments in a number of areas including mobile,

marketing, data, and financial platforms

Liam Carroll

Liam Carroll

Liam Carroll is the creator of Sportsbook Investing, the premier website for making money with Understanding Sports Betting Odds. He has successfully been beating sportsbooks for years using his proven system and top sports picks based on lines, trends, angles, and years of experience. Learn about his system for FREE at http://markettenola.com
Liam Carroll

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