WILLIAMSBURG — UNDERDOG, a Brooklyn-based fantasy sports and betting app, secured $70 million in Series C funding from Spark Capital, valuing it at $1.23 billion. The story was originally reported in Axios on March 26. Launched in 2020 by CEO Jeremy Levine, the company’s eyeing a $100 million round total, bolstered by backers like BlackRock and Kevin Durant. With $140 million raised to date, Underdog’s homegrown tech sets it apart from rivals like DraftKings, offering a user-friendly edge for U.S. players.
The company is already big in fantasy sports, and is expanding to sportsbooks in North Carolina and Missouri. Levine, who sold past ventures to industry giants, aims to top the market.
