Boston fantasy sports company DraftKings achieved its target fund raising of $41 million with most of the contributions coming from media and technology focused merchant bank, the Raine Group.
“DraftKings has established the optimal mix of cutting edge technology, broad industry knowledge and a deeply loyal user base to further push its leadership in this space, and we are delighted to partner with them as they continue to expand,” said John Salter, partner at Raine Group.
The funds will go toward new products and development and Raine Group said DraftKings will be on the lookout for acquisition opportunities.
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