# Underdog Fantasy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/underdog-fantasy

- Industry: Software
- Headquarters: Brooklyn, US
- Website: www.underdogfantasy.com
- Total disclosed funding: $146M
- Latest round: Series C (Jan 28, 2025)
- Investors on record: 16

## About

Based in New York, US, and founded in 2020, Underdog Sports Holdings, Inc., doing business as Underdog Fantasy, is a developer of mobile fantasy sports games. The company was founded by its CEO, Brandon Stakenborg, president, Jeremy Levine, and CTO, Trevor John. In January 2025, Underdog Fantasy raised USD 50.8 million in series C funding led by Spark Capital, with participation from an unspecified investor. Underdog Fantasy Sports offers a daily fantasy sports (DFS) platform that allows users to play a variety of games, including best ball, and pick'em. The company’s product line includes Underdog Fantasy Sports, a mobile application that can be downloaded from both the Android and iOS stores, where users can play with friends in various tournaments and earn prizes. The company plans to utilize the January 2025 funding to further invest in its product development and enhance its customer experience.

## Funding rounds

- Series C, Jan 28, 2025, $51M — Spark Capital
- Series B, Jul 22, 2022, $35M — SV Angel, BlackRock, LionTree, The Chainsmokers, Acies Investments, Eilers & Krejcik Gaming, LLC
- Series B, Jan 1, 2022, $50M — Corner Ventures
- Series A, May 3, 2021, $10M — SV Angel, Fantasy Labs Inc., HBSE Ventures, Thirty5 Ventures, Action Network, Inc., Palm Tree Crew Investments, RotoGrinders, Football Guys, FTN Network L.L.C, Eilers & Krejcik Gaming, LLC
- Seed, Oct 14, 2020 — SV Angel

## Investors

- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed, Series A, Series B
- Fantasy Labs Inc. — Series A
- HBSE Ventures (https://capitalatlas.ai/funds/hbse-ventures) — Series A
- Thirty5 Ventures (https://capitalatlas.ai/funds/thirty5-ventures) — Series A
- Action Network, Inc. — Series A
- Palm Tree Crew Investments (https://capitalatlas.ai/funds/palm-tree-crew-investments) — Series A
- RotoGrinders — Series A
- Football Guys — Series A
- FTN Network L.L.C — Series A
- Eilers & Krejcik Gaming, LLC — Series A, Series B
- Corner Ventures (https://capitalatlas.ai/funds/corner-ventures) — Series B
- BlackRock (https://capitalatlas.ai/funds/blackrock) — Series B
- LionTree (https://capitalatlas.ai/funds/liontree) — Series B
- The Chainsmokers — Series B
- Acies Investments (https://capitalatlas.ai/funds/acies-investments) — Series B
- Spark Capital — Series C