Novig, a US-focused peer-to-peer sports prediction market, has announced the completion of its latest Series A funding round. The round saw participation from a variety of longtime Novig allies and netted the company some $18 million.
Supporters Fueled Novig’s Future Growth
Per Novig’s official announcement, the latest funding round was led by Forerunner and saw participation from existing investors Gaingels, NFX, Perceptive Ventures, and Y Combinator.
As mentioned, the company secured $18 million in funding, which was described as a “powerful endorsement” of its business. According to Novig, this money will help it to scale its business and enhance its platform with more sports and formats.
In addition to that, Novig noted that the support will allow it to enhance its model with new features, such as leaderboards, group contests, and head-to-head trading. Additional enhancements could include options for debit and credit card payments and a full-featured web app.
To top it all off, the extra capital will ensure that the company can expand its team and reach new customers.
Novig Seeks to Revolutionize Sports Predictions
The brainchild of Jacob Fortinsky and Kelechi Ukah, Novig is an innovator that turns sports predictions into a peer-to-peer experience where players can trade directly with one another. With promises of no hidden fees, questionable odds and restrictions for repeat winners, Novig has cemented itself as a player-friendly platform that puts fairness before anything else.
According to CEO Fortinsky, this commitment to transparency and fairness has cemented Novig as the number 1 sports prediction market in the US. Commenting on the recent investment round, he said:
The support from some of the world’s leading tech investors, who believe in our mission to democratize sports betting for good, is a powerful endorsement—not just of what we’ve built, but of the future we’re creating.
Jacob Fortinsky, co-founder & CEO, Novig
Forerunner’s principal, Fawzi Itani, lauded Novig as the bringer of the “most sophisticated and nuanced perspective to sports prediction markets.” Because of that, Forerunner was happy to lead the round, trusting in Novig’s ability to capitalize on gaming trends and deliver experiences that appeal to the customers.