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FanDuel fantasy sport app raises $275m in funding

Daily fantasy sport firm FanDuel has raised an impressive $275m series E funding, bringing the full total its brought in to $363m.

The firm, which was founded in Edinburgh in 2009 but has targeted the North America market, carries a valuation of over $1bn. Employing 90 people in Scotland and 150 in the US, FanDuel was bolstered by investments from Google Capital, Time Warner Investments and Turner Sports.

Using its partnerships in the NFL, NBA, MLB, NHL, the FanDuel provides sports fans the chance to draft and follow the performances of their idealised teams.

Nigel Eccles, co-founder and chief executive of FanDuel, said: "Having partners like KKR, Google Capital and Time Warner/Turner Sports invest in FanDuel underscores the way this company is transforming the sports entertainment industry.

"This roster of investors, with expertise across finance, technology, advertising and sports entertainment, is committed to the growth and success of FanDuel as a game-changer for the sports industry."

The firm is planning to open a Glasgow office in the coming weeks.

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