FanDuel was launched by Hubdub, a web-based prediction market game company, on July 21, 2009, after taking in $1.2 million in venture capital funding from Pentech Ventures and Scottish Enterprise.
In July 2015, FanDuel announced a Series E funding round of $275 million leading the company to be valued at over a billion dollars. Shortly after announcing the fundraise, FanDuel acquired sports analytics company numberFire.
In September 2015, FanDuel acquired the e-sports focused DFS service AlphaDraft.
As of April 2016, the company employs 400 people, with offices in New York, Edinburgh, Glasgow, Orlando, and Los Angeles
FanDuel is also a partner of the National Basketball Association (NBA).