Spark Capital Leads Underdog Series C, Pushing Valuation Over $1.2 Billion
In a landmark moment for the online sports gaming industry, Spark Capital is leading Underdog's Series C funding round, with a $70 million first close on a round expected to exceed $100 million. The raise values Underdog – the fastest-growing sports gaming company in the U.S. – at $1.225 billion pre-money, nearly tripling its Series B valuation from 2022.
Spark's investment underscores market confidence in Underdog's continued growth and potential. It marks the sports gaming industry's largest investment from a top-tier Silicon Valley venture capital firm.
Underdog's focus is creating the best experience for American sports fans, which has driven the company's rapid growth. In an industry dominated by third-party software and platforms originally designed for international markets, Underdog is the only top operator in sports gaming built on its own technology, providing a unique ability to create innovative products and the best customer experience.
As Underdog continues its rapid growth, the funding will primarily allow the company to further invest in creating the best products for sports fans in the U.S. and continuing to bring top-tier talent into the company.
'Spark's investment is a real accelerator,' said Jeremy Levine, CEO and founder of Underdog. 'We're going to continue to invest in people and product – and as fast as we can. There is so much more to build, and we're going to keep building.'
Founded in 2020, Underdog has become a dominant player in sports gaming with nearly four million customers nationwide and is now the fourth most downloaded sports gaming app in the U.S., measured by including all sports betting and fantasy sports apps.
Underdog's comprehensive offering combines original fantasy sports games and sports betting options with breaking news coverage and a growing roster of original sports programming, including shows like Gil's Arena, which is now the fifth-largest daily sports show in the country, measured across all mediums.
'This investment fits Spark's philosophy of backing products we love from creators we admire,' said Will Reed, General Partner at Spark Capital. 'Underdog has proven they can win where it matters most: product. They've also shown they can attract top talent from gaming, tech, and sports. Their unwavering focus on product and customer experience is why they've emerged as the most innovative player in sports gaming. We see massive opportunity ahead and are thrilled to be on the journey with them to make sports more fun.'
About Underdog
Underdog, the fastest-growing sports gaming company in the U.S., was founded in 2020 with a simple objective to make sports more fun. The company's core operating principle: There's so much more to be built for sports fans in America. As the only top-tier sports gaming operator in the country built on its own proprietary technology, Underdog has a unique ability to create new, engaging products for the U.S. consumer. Underdog's products provide the best way to enjoy fun, approachable sports games. The company offers fantasy sports games, licensed sports betting, and a growing media network featuring former professional athletes, coaches, analysts, and the fastest breaking news. Underdog is built for and by sports fans to make sports more fun. For more information, visit underdogfantasy.com
SOURCE: Underdog
Copyright Business Wire 2025.
PUB: 03/26/2025 10:30 AM/DISC: 03/26/2025 10:29 AM
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USA Today
3 hours ago
- USA Today
US Open leaderboard updates: Scores, highlights as Sam Burns leads before final round
US Open leaderboard updates: Scores, highlights as Sam Burns leads before final round Show Caption Hide Caption J.J. Spaun calls it his best putting day of the year J.J. Spaun navigated Oakmont's tough setup with sharp putting and gritty play in round one of the U.S. Open. USGA The dust has settled after moving day at the 2025 U.S. Open. American Sam Burns (-3) sits atop the leaderboard following the third round of play on Saturday at Oakmont Country Club, which has proven to be a challenge as only four golfers are currently under par. Adam Scott (-2), J.J. Spaun (-2), Viktor Hovland (-1) and Carols Ortiz (E) rounds out the top five. Bryson DeChambeau will not defend his 2024 U.S. Open crown as he was one of golf's stars to miss the cut. DeChambeau, Dustin Johnson and Akshay Bhatia all finished 10-over-par. Justin Thomas, Patrick Cantlay and Shane Lowry are among the other big names who missed the cut (which was 7-over). USA TODAY Sports provided complete coverage of Saturday's third round: 1. Sam Burns: -4 (F) (F) T2. J.J. Spaun: -3 (F) (F) T2. Adam Scott: -3 (F) (F) 4. Viktor Hovland: -1 (F) (F) 5. Carlos Ortiz: E (F) (F) T6. Thriston Lawrence: +1 (F) (F) T6. Tyrrell Hatton: +1 (F) (F) 8. Rasmus Neergaard-Petersen: +2 (F) (F) T9. Robert MacIntyre: +3 (F) (F) T9. Cameron Young: +3 (F) ➤ Complete U.S. Open leaderboard Adam Scott is climbing up the leaderboard. The Australian golfer birdied three of the past five holes to move into the co-lead at 3-under on the day. He's carded four total birdes in the third round and one bogey. Scott, who turns age 45 next month, looks to become one of the oldest players to win the U.S. Open. Hale Irwin became the oldest champion when he won the 1990 U.S. Open while aged 45 years and 15 days. Sam Burns is alone at the top. Burns took sole possession of the lead at the 2025 U.S. Open after sinking a birdie on hole No. 13, marking his second birdie of the third round. He saved par on hole No. 14 to maintain his one-stroke lead over J.J. Spaun through 14 holes. After scoring two-over on the front nine, Ben Griffin notched birdied on two of three holes to get his score back to even and into a tie for fourth place. A bogey on No. 18 was Carlos Ortiz's only blemish to an otherwise splendid third round at the U.S. Open. Ortiz finished the day with a 3-under, which puts him at even heading into Sunday's final round. In addition to the bogey, Ortiz had four birdies and pars on the other 13 holes. He enters the clubhouse three strokes behind J.J. Spaun and Sam Burns, who currently share the lead. Tyrell Hatton is back to even at the U.S. Open after putting up three birdies over his past four holes. Hatton is 3-under for the day. Carlos Ortiz went into the clubhouse after Friday's second round at 3 over par, but he's in the thick of contention after a sizzling third round at Oakmont. Ortiz has made four birdies and 10 pars to move to 1-under after 14 holes. He's in third place, just two strokes behind co-leaders J.J. Spaun and Sam Burns. J.J. Spaun drained the first birdie on No. 1 of the day and got himself into a tie for the lead with Sam Burns. Sam Burns (-3) and J.J. Spaun (-2) took their tee shots for the third round, as two of three golfers who are currently under par. Viktor Hovland began the day two shots back and bogeyed his first hole of the day, while J.J. Spaun took a share of the lead with a birdie on his first hole. Brooks Koepka, the 2017 and 2018 U.S. Open champion, began his third round at 2-over tied for ninth as the final five groups get set for their rounds with the last group starting at 3:35 p.m. Koepka started off on the par 4, 487-yard first hole and missed for a 10-foot par putt to start his day to push him back to 3-over. The $21.5 million total purse is the same as it was last year, and the winner will also take home the same amount that Bryson DeChambeau did when he won at Pinehurst No. 2 in 2024. 1st: $4,300,000 2nd: $2,322,000 3rd: $1,459,284 4th: $1,023,014 5th: $852,073 6th: $755,520 7th: $681,131 8th: $610,034 9th: $552,103 10th: $507,118 11th: $462,792 12th: $427,901 13th: $398,716 14th: $367,995 15th: $341,663 16th: $319,719 17th: $302,164 18th: $284,609 19th: $267,054 20th: $249,499 21st: $234,358 22nd: $219,217 23rd: $204,515 24th: $190,910 25th: $179,060 26th: $168,966 27th: $161,286 28th: $154,483 29th: $147,900 30th: $141,317 31st: $134,734 32nd: $128,151 33rd: $121,567 34th: $115,643 35th: $110,815 36th: $105,987 37th: $101,379 38th: $96,991 39th: $92,602 40th: $88,213 41st: $83,824 42nd: $79,436 43rd: $75,047 44th: $70,658 45th: $66,269 46th: $62,320 47th: $58,370 48th: $54,639 49th: $52,445 50th: $50,251 51st: $48,934 52nd: $47,837 53rd: $46,959 54th: $46,520 55th: $46,081 56th: $45,642 57th: $45,203 58th: $44,765 59th: $44,326 60th: $43,887 61st: $43,448 62nd: $43,009 63rd: $42,570 64th: $42,131 65th: $41,692 66th: $41,254 If golfers are expecting to get off to a fast start in the third round, the first two holes haven't been cooperative. The first two holes have produced only three birdies for the more-than-30 golfers that have taken the course on Saturday, and the first hole, a par 4, 487-yard hole, hasn't recorded a single birdie. The back nine isn't much better with one birdie carded on the 10th hole. 2026: Shinnecock Hills Golf Club - Southampton, New York (June 18-21) 2027: Pebble Beach Golf Links - Pebble Beach, California (June 17-20) 2028: Winged Foot Golf Club - Mamaroneck, New York (June 15-18) 2029: Pinehurst Resort & C.C. (Course No. 2) - Village of Pinehurst, North Carolina (June 14-17) 2030: Merion Golf Club - Ardmore, Pennsylvania (June 13-16) 2031: Riviera Country Club- Pacific Palisades, California (June 12-15) 2032: Pebble Beach Golf Links - Pebble Beach, California (June 17-20) 2033: Oakmont Country Club - Oakmont, Pennsylvania (June 16-19) 2034: Oakland Hills Country Club (South Course) - Bloomfield Hills, Michigan (June 15-18) 2035: Pinehurst Resort & C.C. (Course No. 2) - Village of Pinehurst, North Carolina (June 14-17) As the third round commences, those who are already on the golf course are having a tough time posting positive scores, with a light rain soaking the course. Almost two hours into the round, only two golfers are under par, with very few birdies. Brian Harmon got a birdie at the par-five four to improve to 6-over and Matthew Fitzpatrick has the same score after his 31-foot birdie putt on 600-yard par-five fourth hole. Rory McIlroy, who won this tournament in 2011 and finished second in 2023 and 2024, has begun his third round and sits at 6-over through 36 holes. Sam Burns is the 36-hole leader at the U.S. Open after the second round was completed early Saturday morning and is only one of five players who are above par heading into the weekend. The third round is underway with golfers who barely made the cut line at 7-over par, starting with Philip Barbaree, Jr. and Cam Davis being among nine golfers set to tee off before 10 a.m. ET. U.S. Open 2025 live leaderboard 1. Sam Burns: -3 (F) (F) 2. J.J. Spaun: -2 (F) (F) 3. Viktor Hovland: -1 (F) (F) T4. Adam Scott: E (F) (F) T4. Ben Griffin: E (F) (F) T6. Victor Perez: +1 (F) (F) T6. Thriston Lawrence: +1 (through 17) (through 17) T8. Russell Henley +2 (F) (F) T8. Brooks Koepka +2 (F) (F) T8. Si Woo Kim: +2 (F) (F) T8. Thomas Detry: +2 (F) Click here to see the complete U.S. Open leaderboard When will U.S. Open second round finish today? Thirteen golfers were still on the course when the second round was suspended for inclement weather. All 13 had completed at least 16 holes, and each will pick up exactly where they left off on Saturday, June 14, beginning at 7:30 a.m. ET. South Africa's Thriston Lawrence, who is tied for sixth on the leaderboard at +1, is among the golfers that still need to complete the second round. Two other golfers – Chris Gotterup (+5 through 17) and Philip Barbaree Jr. (+6 through 16) are hovering around the projected cut line of +7. Where to watch the U.S. Open: TV channel, streaming Saturday The 2025 U.S. Open is being broadcast by NBC and USA Network, with the two networks splitting coverage for the third and final rounds. All rounds of the U.S. Open will be live streamed on Peacock, the USGA app and Fubo, which offers a free trial. Peacock will also broadcast U.S. Open All-Access, its whip-around style offering, for every round. Third round: Saturday, June 14 10 a.m.-Noon ET on USA Network, Fubo Noon-8 p.m. ET on NBC, Fubo Watch the U.S. Open on Fubo (free trial) Tee times for the third round have been set. Here's the complete schedule, pairings, with all players teeing off from the No. 1 tee: All times Eastern; (a) amateur 9:12 a.m. – Philip Barbaree, Jr. Philip Barbaree, Jr. 9:23 a.m. – Cam Davis, Brian Harman Cam Davis, Brian Harman 9:34 a.m. – Matt Fitzpatrick, Andrew Novak Matt Fitzpatrick, Andrew Novak 9:45 a.m. – Harris English, Hideki Matsuyama Harris English, Hideki Matsuyama 9:56 a.m. – James Nicholas, Laurie Canter James Nicholas, Laurie Canter 10:07 a.m. – Ryan McCormick, Patrick Reed Ryan McCormick, Patrick Reed 10:18 a.m. – Ryan Gerard, Niklas Norgaard Ryan Gerard, Niklas Norgaard 10:34 a.m. – Rory McIlroy, Xander Schauffele Rory McIlroy, Xander Schauffele 10:45 a.m. – Jordan Smith, Justin Hastings (a) Jordan Smith, Justin Hastings (a) 10:56 a.m. – Tony Finau, Marc Leishman Tony Finau, Marc Leishman 11:07 a.m. – Michael Kim, Corey Conners Michael Kim, Corey Conners 11:18 a.m. – J.T. Poston, Matt Wallace J.T. Poston, Matt Wallace 11:29 a.m. – Chris Gotterup, Johnny Keefer Chris Gotterup, Johnny Keefer 11:40 a.m. – Maverick McNealy, Tom Kim Maverick McNealy, Tom Kim 11:56 a.m. – Mackenzie Hughes, Matthieu Pavon Mackenzie Hughes, Matthieu Pavon 12:07 p.m. – Sungjae Im, Jordan Spieth Sungjae Im, Jordan Spieth 12:18 p.m. – Ryan Fox, Robert MacIntyre Ryan Fox, Robert MacIntyre 12:29 p.m. – Taylor Pendrith, Trevor Cone Taylor Pendrith, Trevor Cone 12:40 p.m. – Rasmus Højgaard, Aaron Rai Rasmus Højgaard, Aaron Rai 12:51 p.m. – Daniel Berger, Jhonattan Vegas Daniel Berger, Jhonattan Vegas 1:02 p.m. – Cameron Young, Scottie Scheffler Cameron Young, Scottie Scheffler 1:18 p.m. – Collin Morikawa, Denny McCarthy Collin Morikawa, Denny McCarthy 1:29 p.m. – Jon Rahm, Nick Taylor Jon Rahm, Nick Taylor 1:40 p.m. – Sam Stevens, Keegan Bradley Sam Stevens, Keegan Bradley 1:51 p.m. – Rasmus Neergaard-Petersen, Carlos Ortiz Rasmus Neergaard-Petersen, Carlos Ortiz 2:02 p.m. – Chris Kirk, Jason Day Chris Kirk, Jason Day 2:13 p.m. – Tyrrell Hatton, Christiaan Bezuidenhout Tyrrell Hatton, Christiaan Bezuidenhout 2:24 p.m. – Adam Schenk, Max Greyserman Adam Schenk, Max Greyserman 2:40 p.m. – Emiliano Grillo, Thomas Detry Emiliano Grillo, Thomas Detry 2:51 p.m. – Si Woo Kim, Brooks Koepka Si Woo Kim, Brooks Koepka 3:02 p.m. – Russell Henley, Thriston Lawrence Russell Henley, Thriston Lawrence 3:13 p.m. – Victor Perez, Ben Griffin Victor Perez, Ben Griffin 3:24 p.m. – Adam Scott, Viktor Hovland Adam Scott, Viktor Hovland 3:35 p.m. – J.J. Spaun, Sam Burns It could be a frustrating day for both competitors and fans if the weather forecast holds, which calls for a 100% chance of precipitation. The Weather Channel is projecting rain in the morning at Oakmont then scattered thunderstorms in the afternoon. The day will begin with temperatures in the high 60s before reaching a high of 75 degrees. Humidity is expected to be around 90%. All odds via BetMGM as of evening of Friday, June 13
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Hamilton Spectator
5 hours ago
- Hamilton Spectator
Sam Burns holds steady on soggy Oakmont to lead US Open
OAKMONT, Pa. (AP) — The closest Sam Burns has come to a major championship is sharing a house with a close friend who already has three of them. He has been inspired by Scottie Scheffler the last few years. The next step is to join him as a major champion. Burns held steady after missing a short par putt late Saturday in the U.S. Open, responding with a beautiful pitch for a tap-in birdie and two scary putts down the hill from inside 60 feet to save par on the 18th hole at rain-soaked Oakmont for a 1-under 69. That gave him a one-shot lead over major-tested Adam Scott and J.J. Spaun, with Viktor Hovland not far behind as the only four players to survive par. Burns was at 4-under 206. He has five PGA Tour titles, the last one more than two years ago, and is coming off a playoff loss last week in the Canadian Open. At stake for Burns is a chance for the 28-year-old from Louisiana to become the sixth American at 30 or under to capture his first major since 2020. Scheffler has won 19 times worldwide the last three years, including three majors, most recently last month at the PGA Championship. 'Scottie's obviously an incredible player. I don't think I need to say that,' Burns said with a laugh. 'We obviously spend a lot of time together and being able to talk to him and just kind of learn from him and ask him questions, it's been really cool.' Scheffler has won his three majors in what turned out to be blowouts. Sunday at Oakmont was shaping up to be anything but that. Scott, who only climbed back into the top 50 in the world less than a year ago and hasn't seriously challenge in a major in nearly seven years, became only the third player at par or better for the opening three rounds in a U.S. Open at Oakmont. He birdied three of his last six holes for a 67, getting into the final group when J.J. Spaun made bogey from the bunker on the 18th hole and shot 69. Scott is the only player among the top 10 who has won a major. That was 12 years ago at the Masters. No one has ever gone more than 11 years between their first and second major titles. 'Putting ourselves in these positions doesn't just happen by fluke,' Scott said. 'I really haven't been in this kind of position for five or six years, or feeling like I'm that player. But that's what I'm always working towards. It's not that easy to figure it all out. 'But if I were to come away with it tomorrow, it would be a hell of a round of golf and an exclamation point on my career.' Spaun, who lost in a playoff at The Players Championship in March, kept pace with Burns throughout the back nine until the end. He looked comfortable under the pressure, making only two bogeys while matching pars with Burns over seven straight holes. 'It seemed like we were kind of back and forth,' Spaun said. 'He would take the lead, I would take the lead, I would fall back, whatever. But it was fun. You can't really play against your opponent; you got to play this course. There's just so much on demand with every shot.' The other survivor to par was Hovland, who has been smiling as much as anyone on a course that has been exasperating to so many all week. Hovland salvaged a bogey from an opening tee shot into the bushes and an exquisite shot off the muddied cart path. But he hit the pin on the uphill ninth hole for birdie and hit an amazing wedge from the cabbage left of the 17th green for a tap-in birdie. He closed with a bogey from the rain-soaked rough on the 18th for a 70 and was three behind 'I'm well aware that I've got a chance tomorrow, and if I shoot a low round of golf tomorrow then anything can happen,' Hovland said. 'But there's a lot of good players around me. Adam Scott played a brilliant round today, just didn't really miss a shot. That forces me to play some really good golf tomorrow.' Carlos Ortiz turned in one of the most remarkable performances by going bogey-free for 30 consecutive holes. The streak ended on the 18th, but the Mexican still had a 67 and was very much in range at even-par 210. Missing from the mix was Scheffler, the world's No. 1 player who had won three of his last four tournaments coming into the U.S. Open. Scheffler never found any momentum, with one critical stretch coming right before the turn. After holing a 20-foot birdie putt on the sixth, Scheffler saved par after driving into the rough on No. 7 and hitting wedge to 3 feet. But then what looked like a tap-in par on the long par-3 eighth turned into a shocking miss. He wound up with a 70, moving him from a tie for 23rd to just outside the top 10. But he was eight shots behind Burns. 'I put myself in this position,' Scheffler said. 'It's not the position I want to be in, but I've done a good job of hanging in there and staying in the tournament.' The best news for this U.S. Open was that it finished the third round without weather getting in the way. Oakmont received an inch of rain from when played ended on Friday evening. The USGA offered to refund tickets to spectators who didn't want to traipse through the muck. Divots taken from the fairways looked like pelts, and the greens were noticeable softer and more receptive. There was one spell midway through the round when umbrellas were out and the sun was shining. Burns picked up birdies with a wedge from the fairway to a back pin on No. 5 and a tee shot to 7 feet on the accessible par-3 13th. Equally important were the three times he saved par from the fairway after getting out of position off the tee. 'I didn't drive the ball as well as I would have liked to. But when I got out of position I feel like I did a good job of getting myself back in the fairway, having a wedge or short iron in my hand and giving myself a chance for par,' he said. 'I was able to convert some of those and kind of kept the momentum going.' Now it's a night back at the house with Scheffler, where the conversation is more about kids than about golf. 'The conversation in the morning, we just hang out,' Scheffler said. 'There will be two little kids running around. There's nothing crazy, there's not much to say. Sam's been preparing for moments like this for a long time, and he's put himself in position to win the golf tournament.' ___ AP golf:
