Underdog Fantasy
Underdog Fantasy is a sports gaming company offering innovative fantasy contests, like Best Ball and Pick’em games, via its app.
Secondary Market Price
Secondary Market Price
How Underdog Fantasy Measures Up
To help you manage your Underdog Fantasy equity, Prospect has run the company through our machine learning model.
Prospect Rating
2X
Our rating indicates that Underdog Fantasy has the potential to be worth at least twice its current value. For an employee with stock options, this suggests their equity could be worth two times its initial value in a successful exit.
Exit Risk
Moderate Risk
Our moderate risk rating for Underdog Fantasy reflects its successful fundraising during a market downturn, which is balanced by potential regulatory hurdles and product risks that could affect a future liquidity event for employees.
Funding Stage
Series C
For a potential employee, a company at the Series C stage is typically well-established and focused on scaling up its business. This can mean you're joining a company with more stability than an early-stage startup but still with plenty of opportunities for growth and impact.
Secondary Market Price Chart
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Prospect Projected Future Underdog Fantasy Prices
Prospect’s machine learning model has been trained on the same data top-tier investors use to project the likely range of outcomes for Underdog Fantasy's equity. Create a free account to view 10th-90th percentile projections over 2, 4, and 6 years.
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Company Description
Underdog Fantasy is a sports gaming company that develops fantasy sports contests. Its current offerings include unique formats like Best Ball, where users draft a team for an entire season without weekly management, and Pick’em games. Founded in 2020 by Jeremy Levine, the company has grown rapidly, reportedly surpassing competitors like FanDuel and DraftKings in fantasy sports revenue and active customers. Since its inception, Underdog has achieved several milestones, including a $35 million Series B funding round in July 2022 and a subsequent $70 million Series C round in March 2025. It also launched one of the largest contests in fantasy sports history, a $15 million NFL Best Ball tournament.
Looking forward, Underdog is expanding from fantasy sports into the licensed sports betting market. The company is launching its own sportsbook, beginning with North Carolina in March 2024, with the stated goal of focusing on product quality, gamification, and social features. Recent company developments include the appointment of a new Chief Financial Officer and Chief Marketing Officer to help scale the business. Underdog also became the first U.S. operator to integrate Sportradar's AI-powered responsible gaming technology, Bettor Sense, into its app and has launched prediction markets for sporting events.
- BlackRock
- Spark
- SV Angel
- Future Ventures
- Mark Cuban
- Kevin Durant
- Steve Aoki
- Co-Founder, Co-CEO Jeremy Levine
- Co-Founder, Co-CEO Brandon Stakenborg
- Co-Founder, CTO Trevor John
Peer Group Comparison
Vs Peer Group of >$4B Startups
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Underdog Fantasy worth joining?
Underdog Fantasy is a fast-growing sports gaming company that has surpassed major competitors and is expanding into the licensed sports betting market. However, the company carries risks, and using a platform like Prospect can help you evaluate the opportunity with data-driven insights.
What should I do with my Underdog Fantasy stock?
Managing equity in a private company involves complex decisions around tax implications, exercising options, and timing potential sales. Platforms like Prospect offer tools for scenario modeling and tax optimization to help you maximize the value of your startup stock.
Can you sell Underdog Fantasy stock?
As a private company, Underdog Fantasy stock is not traded on public exchanges and is therefore considered illiquid. Selling shares typically requires a company-approved liquidity event or finding a buyer on a secondary market, a process that can be complex and restricted.
How can I find the value of my Underdog Fantasy stock?
The value of private stock is often estimated based on the price per share set during the company's most recent funding round or its 409A valuation. You can find more detailed projections on platforms like Prospect, which analyze fundraising data, growth metrics, and secondary market prices to determine what your equity is likely worth.
What is Underdog Fantasy's equity worth?
According to its company profile, Underdog Fantasy has a valuation of $500 million. This valuation follows a $35 million Series B funding round in July 2022, which valued the company at $485 million.
What is Underdog Fantasy's stock ticker symbol?
Underdog Fantasy does not have a stock ticker symbol because it is a private company. Ticker symbols are only assigned to companies when they become publicly traded on a stock exchange.
Can I buy or sell Underdog Fantasy stock?
Since Underdog Fantasy is a private company, its stock is not available for purchase or sale on public stock markets. Transactions are limited to private sales, which are often restricted to accredited investors and subject to company approval.
What is the criteria to buy or invest in Underdog Fantasy stock?
Investing in a private company like Underdog Fantasy is typically limited to institutional or accredited investors during organized funding rounds. The company does not publicly list investment criteria, as these opportunities are not available to the general public.
