Daily fantasy sports (DFS) operator DraftKings has raised US$150m in new funding after closing a round led by Revolution Growth, the venture capital firm co-founded by AOL founder Steve Case and Ted Leonsis, owner of the Washington Capitals and Wizards sports teams.

Revolution has tapped into its $525m Revolution Growth III fund to invest in DraftKings, with other participants in the round yet to be named.

Premium subscribers continue here to the full article.

Related