Novig Raises $18 Million in Series A to Enhance Sports Prediction Platform

Novig Secures Significant Investment to Drive Growth

Novig, a US-based peer-to-peer sports prediction platform, recently completed its Series A funding round, successfully raising $18 million. This financing round attracted numerous longtime supporters of the company, highlighting strong investor confidence in Novig’s vision and business model.

Key Investors and Growth Plans

The funding round was led by Forerunner, with continued backing from existing investors including Gaingels, NFX, Perceptive Ventures, and Y Combinator. The newly raised funds are intended to help Novig expand its offerings and scale its operations across a wider range of sports and prediction formats.

Novig plans to use the capital to develop several new features designed to enhance user engagement, such as leaderboards, group competitions, and head-to-head trading options. Additionally, the company is exploring payment enhancements, including debit and credit card support, alongside launching a comprehensive web application.

Beyond product improvements, the funding will also enable Novig to grow its team and broaden its customer base to reach more sports prediction enthusiasts.

Innovating the Sports Prediction Experience

Founded by Jacob Fortinsky and Kelechi Ukah, Novig offers a unique approach to sports predictions by facilitating direct peer-to-peer trading among users. The platform emphasizes fairness, transparency, and user empowerment by eliminating hidden fees, questionable odds, and restrictions on repeat winners.

Jacob Fortinsky, Novig’s CEO, credits this commitment to openness and fairness with helping the company become the leading sports prediction market in the United States. Reflecting on the recent investment, Fortinsky expressed that the support from prominent technology investors signals strong belief in the company’s mission to democratize sports betting.

“The backing from some of the world’s top tech investors is not just recognition of what we’ve achieved, but a vote of confidence in the future we are building,” said Fortinsky.

Fawzi Itani, principal at Forerunner, praised Novig for bringing a sophisticated and insightful approach to sports prediction markets. Forerunner’s decision to lead the funding round was driven by confidence in Novig’s ability to tap into evolving gaming trends and deliver compelling experiences to users.