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 [...]
