Summary
- Novig proudly announced the triumphant completion of an $18 million Series A funding round.
- Forerunner took the lead in the funding round, with unwavering support from our existing investors.
- Jacob Fortinsky, the CEO and co-founder of Novig, shares insights into the impactful expansion of the company.
Introducing the leading force in commission-free, peer-to-peer sports trading in the U.S., Novig proudly shares an exciting milestone. Founded by visionary leaders Jacob Fortinsky and Kelechi Ukah, Novig stands tall as America's premier Sports Prediction Market. They have triumphantly secured an $18 million Series A funding round, setting the stage for even greater achievements.
Novig plans to use the new capital for product development and expansion
Novig proudly announced that its Series A funding round was spearheaded by Forerunner, with enthusiastic participation from its existing supporters: NFX, Gaingels, Perceptive Ventures, and Y Combinator. With this new injection of capital, Novig is set to expand its footprint in its current markets and branch out into new ones by adding a diverse range of sports. The platform, known for its rapid growth in peer-to-peer sports trading, is also poised to introduce exciting new features for its loyal users. Expect innovations like head-to-head trading, group contests, and leaderboards, among a suite of other engaging functionalities. As Novig prepares to scale, plans are underway to strengthen its product and engineering teams. A comprehensive web app launch is on the horizon, along with the introduction of new payment methods to enhance overall user experience. Fawzi Itani, a Principal at Forerunner, expressed his enthusiasm about this fresh wave of investment. “Novig is at the crossroads of booming trends in gaming and entertainment. In a world where consumers are increasingly channeling their focus on financial products, Novig is carving out a niche that captivates.” He further emphasized, “The Novig team possesses an unparalleled understanding of sports prediction markets. They are creating a system that is not just fair and community-driven, but also rewarding and, simply put, fun.” In June, Novig strengthened its leadership by welcoming Chris Staszak as Senior Legal Counsel and Alex Wolf as Chief Legal Officer. Their expertise marks an exciting new chapter for Novig as it continues to thrive in its dynamic journey.
Growing organically, Novig is the #1 sports prediction market in the US
Jacob Fortinsky, the CEO and driving force behind Novig, proudly shared insights into how the company is revolutionizing the sports industry. At Novig, it's about creating a genuine peer-to-peer marketplace, moving beyond just making sports predictions. He passionately highlighted one of Novig's core values: building a system that truly supports its users, rewarding their skills and giving every sports fan a fair chance. Reflecting on their journey, Fortinsky mentioned, We've swiftly claimed the top spot as the leading sports prediction market in the U.S. Our organic growth is a testament to the robustness of our product and the dedication of our community. He also emphasized the remarkable support from top-tier tech investors, who are deeply aligned with Novig’s mission to permanently transform sports betting. Their backing is not just recognition of what has been built, but it fuels the vision of the future they aim to craft, scaling their mission across more sports and reaching a broader audience. One of Novig's biggest advantages is its peer-to-peer trading model, which empowers users to trade directly with each other. This approach eliminates hidden fees and biased odds while removing the fear of penalties for winning, allowing sports bettors to engage in fair and direct trading without the interference of a middleman.
