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DraftKings raises $150m ahead of new NFL season

2nd September 2016 7:51 am GMT

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.

As a result of the deal, Revolution partner Steve Murray will join DraftKing's board [...]

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