Based in New York, Novig announced that Forerunner Ventures led the recent funding effort, with participation from existing backers including Gaingels, NFX, Perceptive Ventures, and Y Combinator. The fresh capital infusion is set to accelerate the company’s plans to diversify its sports offerings and strengthen its position across current markets.

According to a company statement, “With this new funding, Novig aims to broaden its coverage to additional sports, deepen engagement within existing regions, and introduce innovative features such as leaderboards, group contests, and direct head-to-head trading. We also plan to enhance user experience by enabling fiat on-ramps like credit and debit card payments, launching a comprehensive web application, and expanding our teams in engineering, product development, and growth.”

Founded by Jacob Fortinsky and Kelechi Ukah, Novig currently operates in over 40 states, including California and Texas—markets where traditional sports betting remains illegal. The company’s investor roster includes 11 stakeholders, as listed on its website.

The influx of capital into Novig exemplifies a broader trend: major venture capital and institutional investors are increasingly eyeing the iGaming and sports wagering sectors. Recent funding rounds for related companies—such as social casino operator MyPrize, which raised $21 million at a $250 million valuation, and fantasy sports innovator Fantasy Life, which secured $7 million—highlight this momentum.

Notably, investor enthusiasm extends to prediction market platforms. In June, Kalshi raised $185 million, catapulting its valuation to $2 billion, while Polymarket is rumored to be nearing a $200 million raise, valuing it at around $1 billion and cementing its status as a unicorn.

Fawzi Itani, Principal at Forerunner, commented, “Novig is positioned at the nexus of several key trends in entertainment—namely, that consumers are increasingly engaging with financial products for leisure. The Novig team offers a sophisticated approach to sports prediction markets, emphasizing fairness, community, and entertainment value.”

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Unlike some controversial prediction platforms, Novig operates with a distinct approach. It is not available in all 50 states, partly due to regulatory nuances. Its peer-to-peer model allows users to compete directly against each other rather than against a house, differentiating it from traditional sports betting platforms—though regulation remains a consideration. Novig Series A funding

The company reports that over 90% of trades are now conducted peer-to-peer, a strong indicator of product-market fit. Additionally, Novig claims its users are three times more likely to stay active compared to conventional betting platforms. New users receive a starting balance of Novig Coins and Cash, enabling risk-free trading experiences.

Offering both free-to-play and paid options with real money and prize redemptions, Novig continues to evolve its platform, blending fun, community, and innovative financial engagement in the sports prediction space.

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