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Fantasy Sports Site DraftKings Nabs $41 Million Funding Round

DraftKings, a fantasy sports site that offers cash prizes to winners of its daily fantasy competitions, has raised $41 million in a funding round led by The Raine Group. The round, which brings DraftKing’s total funding to nearly $75 million since its launch in April 2012, included existing investors Redpoint Ventures, GGV Capital and Atlas Venture.

DraftKings also announced the acquisition of StarStreet on Monday, a similar fantasy sports site and the second such acquisition for DraftKings in as many months. The company acquired DraftStreet, another fantasy site, in July. Terms of the StarStreet acquisition were not disclosed.

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