Update (3/17/17): A new Form D filing revealed that the total amount for DraftKings' latest round was $118 million.
Original story: DraftKings has raised a new round of funding worth more than $100 million — the first round of financing it has raised since its planned merger with FanDuel was announced last fall.
While DraftKings confirmed to Bloomberg that it had closed on a Series E1 round, it didn't say for how much. However, sources told both Bloomberg, Dan Primack of Axios and Yahoo Finance that the round was over $100 million.
The lead investor on the round was Eldridge Industries LLC, a part owner of the Los Angeles Dodgers baseball team. The company also Dick Clark Productions, Billboard magazine and The Hollywood Reporter.
Jason Robins, DraftKings' CEO, said in an emailed statement provided to BostInno that the company was "looking for a funding partner who could bring additional depth to the table."
"The exceptional team at Eldridge does that through their incredible knowledge and success with media properties, providing a deep bench of experts to help fuel DraftKings’ continuing growth as a sports entertainment company," he said.
