Entertainment Software | San Francisco, CA | Late Stage
Fantasy sports startup FanDuel is raising somewhere between $30 million and $40 million in a new round structured as a convertible note, per Axios. The company is backed by Bullpen Capital, Comcast Ventures and Pentech Ventures, among others. The news comes two months after the US Federal Trade Commission blocked a merger of FanDuel and fellow daily fantasy company DraftKings, claiming unfair competition. Founded in 2009, FanDuel previously raised $55 million in May 2016 at a $1.1 billion valuation.