Underdog Fantasy Raises $10 Million From Kevin Durant, Mark Cuban, Jared Goff and Others
Fantasy sports app Underdog Fantasy has raised $10 million from a group of investors that includes Dallas Mavericks owner Mark Cuban, Brooklyn Nets star Kevin Durant, Detroit Lions quarterback Jared Goff, and ESPN’s Adam Schefter.
The round was led by angel investor Kevin Carter, who is an advisor at SV Angel, and included investments from music stars such as Future, Gunna, Nas, Kygo, The Chainsmokers, and Steve Aoki. Schefter and The Chainsmokers are among several special guests slated to appear during Underdog Fantasy’s livestream on YouTube being hosted today from noon until midnight; fantasy football analysis will be shared throughout the stream.
Underdog Fantasy was founded by Jeremy Levine, who previously co-founded daily fantasy sports startup DRAFT that sold to Paddy Power Betfair for $48 million in 2017. Underdog also announced that its season-long NFL Best Ball fantasy tournament is now open for entry and will award $3.5 million in prizes.
Additional investors in the round included Dapper Labs CEO Roham Gharegozlou, Cleveland Cavaliers guard Matthew Dellavedova, and Harris Blitzer Sports & Entertainment, which owns the New Jersey Devils and Philadelphia 76ers. Underdog has also received investment from notable figures in the sports gaming space such as gaming research firm Eilers & Krejcik, Bleacher Report’s Adam Lefkoe, the Action Network, FantasyLabs, RotoGrinders, and SimpleBet.