RotoUnderworld completes $1.5m pre-seed funding round to finance new DFS platform
Future seed funding round in the pipeline after FastDraft app gains 1,000 new users in its first month
RotoUnderworld has raised $1.5m through a pre-seed funding round to finance its FastDraft DFS platform.
The funding round was led by “igaming mavens and technology investors” who, RotoUnderworld said, recognized the company’s “hyperactive user base and mobile development capabilities.”
FastDraft is a DFS app which aims to significantly reduce the time taken for players to complete fantasy football drafts.
The platform’s USP is that drafts can be completed in less than five minutes, with RotoUnderworld noting this is up to “10 times faster than traditional best ball formats.”
After the app acquired more than 1,000 users in its first month, RotoUnderworld is planning a further future seed funding round to help scale the platform.
Any potential capital raised from that round will be used to help the company introduce more contest formats and promote the brand to a larger, global audience.
RotoUnderworld has claimed FastDraft’s initial launch “demonstrated the market’s appetite for a new generation of mobile fantasy sports products.”
The business is currently live in 33 US states, including Texas, California, and Florida, as well as Washington DC.
RotoUnderworld was founded by Matthew Kelley in September 2023. Kelley is also the founder and CEO of PlayerProfiler, a site dedicated to individual player stats.
Speaking following the $1.5m raise, Kelley said: “RotoUnderworld is on a mission to bring knowledge and joy to sports.
“Soon after our sports data business ramped up, we were inundated by fantasy sports consumers eager for more mobile fantasy gaming options, especially in the rapidly growing best ball vertical. We listened and delivered.”
He added that FastDraft’s USP will appeal to a large audience of DFS players.
“Our drafts finish in under five minutes, which is 10 times faster than traditional best ball formats,” Kelley explained.
“By simplifying the scoring and reducing the time to draft, FastDraft appeals to over 50 million fantasy gamers worldwide who love drafting but often feel overwhelmed by the complexity, competition, and time commitment.
“FastDraft’s streamlined format makes it easy to engage with the app and significantly increases user spend per session.”