Daily Fantasy Sports
GridRival Raises $3M in Seed Funding
GridRival, a sports betting startup dedicated exclusively to motorsports, has raised $3M in Seed funding.
The round was led by KB Partners, the Chicago-based sports-tech fund, with participation from Sharp Alpha Advisors, ESPT Ventures, and other sports betting investors and executives including Lloyd Danzig and Benjie Cherniak.
Over 500 million consumers around the globe tune into some form of auto racing every year. Together with motorsports, sports betting and fantasy sports have been experiencing explosive growth. Armed with 120,000 users and $3M in new capital, GridRival is poised to take advantage of this “trifecta” of perfect timing.
“As a lifelong motorsports fan that’s been watching the DFS and sports betting craze from the sidelines, I knew one thing was clear – if any brand was going to engage the racing audience in a meaningful way at significant scale, it must be done with a platform exclusive to motorsports. We plan to be the authentic, real-money gaming platform that race fans will actually resonate with,” Ross Fruin, CEO and Co-Founder of GridRival, said.
The motorsports app got its start as a “free-to-play” season-long fantasy sports platform and plans to use the new funding to launch its first real-money games in the US and UK in 2022 while simultaneously adding additional racing series to its apps.
“The number of global racing fans is huge but they are currently underserved by existing platforms that focus almost exclusively on traditional sports. We are thrilled to partner with the GridRival team as they build the first truly authentic fantasy sports and sports betting experience for this audience,” Steven Ahern of KB Partners said.
In an industry known for high user acquisition costs, the team at GridRival has found a formula for building a loyal audience. Their active players grew by 2000% YoY at the start of the 2021 season – with 60% of new users for 2021 stemming from viral growth. Their growth and engagement figures caught the eye of prominent sports betting thought leader and investor, Lloyd Danzig.
“Sports betting operators are currently amidst a customer acquisition gold rush in which the focus is increasingly being directed toward finding large, untapped audiences. GridRival has proven itself capable of targeting and engaging the Motorsports fan base at scale with an authentic, full-featured app,” Danzig said.
GridRival’s ambitions go beyond betting. “Our vision is to be â€the home screen’ for the fans that use our platform. In addition to real money gaming, we want GridRival to be the hub that our users come to for motorsports-related content and community,” Fruin said.
PrizePicks, the largest daily fantasy sports operator in North America, announced it has secured gaming licenses in both Puerto Rico and Maine, marking a major milestone in the operator’s continued growth. With this expansion, PrizePicks becomes the first daily fantasy sports operator to obtain a gaming license in Puerto Rico.
PrizePicks players can now access Arena in Maine, with Puerto Rico set to go live in the coming months. Following the launch, PrizePicks will be operational with its fantasy contests in 47 jurisdictions across the US.
“We’re grateful to the Puerto Rico Gaming Commission and the Maine Gambling Control Unit for their partnership and support throughout the licensure process. We’ve seen tremendous engagement with Arena across the country, and we’re confident that momentum will carry into these new jurisdictions,” said Adam Packer, Senior Vice President of Legal & Compliance at PrizePicks.
PrizePicks, the largest daily fantasy sports operator in North America, announced that KLUTCH Sports Group has been enlisted as a strategic brand advisor. As part of the collaboration, KLUTCH — along with its Brand Consulting and Sports and Brand Insights divisions — will advise PrizePicks on talent strategy, brand development, and relationship building across the sports and entertainment landscape.
“As sports fandom continues to evolve, PrizePicks is focused on meeting fans where culture, community, and entertainment converge. KLUTCH brings an unmatched cultural influence that will help us elevate our brand and connect more deeply with fans nationwide,” said Mike Quigley, Chief Marketing Officer at PrizePicks.
KLUTCH will support PrizePicks through a slate of bold, upcoming marketing campaigns, tapping into the agency’s expertise across sports, music, entertainment, and creators. Powered by KLUTCH’s data and valuation insights and strategic guidance, the agency will bring fresh energy and star power to the brand to unlock opportunities in both culture and fandom.
“PrizePicks is a brand that understands where sports fandom is headed – blending community, culture, and entertainment. We’re thrilled to support in their journey as they build deeper connections with fans and athletes alike,” said Maria DeRuccio, SVP of Brand Consulting at KLUTCH Sports Group.
KLUTCH and its strategic partner, UTA, represent the world’s top athletes, artists, brands, and creators, delivering opportunities across sports, entertainment, media, and business. Brand advisory remains a cornerstone of KLUTCH and UTA’s growth strategy. This collaboration with KLUTCH marks a pivotal step in PrizePicks’ mission to grow beyond the traditional boundaries of fantasy sports and become a cultural force in sports and entertainment.
PrizePicks, the largest daily fantasy sports operator in North America, announced that it has partnered with the Los Angeles Dodgers as the team’s Official Daily Fantasy Sports Partner. The partnership features several digital and in-stadium activations at Dodger Stadium as PrizePicks continues to strengthen its brand presence in baseball.
“Partnering with the Dodgers is an incredible opportunity to align with one of the most respected organizations in sports. As the Dodgers chase another championship title, we’re looking forward to delivering unique moments that bring fans even closer to the action,” said Mike Quigley, Chief Marketing Officer at PrizePicks.
As part of the multi-year partnership, PrizePicks will receive prominent in-venue branding at Dodger Stadium, including banner displays throughout the stadium’s concourses and LED signage in the outfield pavilion. The partnership will also include promotion across Dodgers social media, digital platforms, and radio.
“We are pleased to welcome PrizePicks to our family of partners. Their innovative approach to fan engagement aligns well with our commitment to delivering world-class experiences, and we look forward to a winning collaboration,” said Lon Rosen, Executive Vice President & Chief Marketing Officer at Los Angeles Dodgers.
Throughout the 2025 season, PrizePicks will also introduce an exclusive in-game promotion for Dodgers fans. Anytime the team scores 10 or more runs at home, the Dodgers will launch a PrizePicks branded social media contest for a chance to score a free PrizePicks lineup and tickets to a future game at Dodger Stadium to watch their picks play out live.
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