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Underdog Sports raises $35m to fund sports betting expansion

27th July 2022 2:05 pm GMT

New York-based daily fantasy sports operator Underdog Sports has raised $35m in a Series B round of fundraising as it looks to expand into sports betting.

The round includes funds and accounts managed by BlackRock, as well as Acies Investment, and values the company at $485m.

The funding will enable Underdog to enter the licensed US sports betting sector in the next year, hire over one hundred new employees, and expand its growing presence in daily fantasy [...]

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