Novig, the peer-to-peer prediction market, declared a funding spherical that closed at $18 million.
The principle contributors to this spherical of funding included Forerunner, Y Combinator, NFX, Perceptive Ventures, and Gaingels.
Novig declares $18 million funding spherical
The prediction market in America is heating up with an inventory of suitors that enable bettors to stake on markets similar to election outcomes, climate patterns, and a bunch of novelty bets. We reported on the success that Kalshi and Polymarket have had throughout this yr and their authorized battles to function throughout America.
Novig is a sportsbook change that’s permitted to function in forty US states and is gaining traction amongst prediction gamblers. The format is just like British and EU sportsbook exchanges similar to Betfair Alternate that supply occasions that pit gamers’ predictions in opposition to one another.
The platform, based by Jacob Fortinsky and Kelechi Ukah, posted on social media in regards to the landmark funding spherical.
@Novig simply raised an $18M Sequence A spherical led by @forerunner.
Right here’s how we grew to become the fastest-growing sports activities prediction market in America
pic.twitter.com/NsHsRwB8Ec
— Jacob Fortinsky (@j__fort) August 11, 2025
How does Novig work?
Novig makes use of a format that entails two branded on-line currencies, Novig Money and Novig Cash, used to partake in “freemium” video games, and may also be bought for sweepstakes and the buying and selling factor of the location. In response to the Novig web site, the 2 currencies are color-coded.
Novig Money, the blue foreign money, is “redeemable for actual money prizes (USD) in case your trades win; topic to playthrough necessities.” Novig Cash, the yellow foreign money, is “used completely for apply buying and selling and can’t be redeemed for actual foreign money,” based on the articles posted on Novig.
The long run appears optimistic for the sports activities prediction platform
Since its public launch in September 2024, it has achieved a reported fifty occasions its unique month-to-month buying and selling quantity, which has quickly elevated, and the net foreign money is now at 2 billion Novig money.
One of many traders, Fawzi Itani, Principal at Forerunner, stated, “The Novig group brings essentially the most refined and nuanced perspective to sports activities prediction markets. They not solely deeply perceive their goal buyer, however are constructing a system that’s extra honest, community-oriented, rewarding, and properly, enjoyable.”
Novig intends to increase with the brand new spherical of funding from Itani and the opposite traders. The corporate has plans, based on the discharge, so as to add extra sports activities to the buying and selling factor of the platform.
“With the brand new capital, Novig plans to increase protection to extra sports activities and deepen its presence in current markets. The corporate can even launch new options, together with leaderboards, group contests, and head-to-head buying and selling,” stated the Novig launch.
Additionally it is trying to help debit and bank card funds, an online app, and rent extra our bodies throughout its engineering, product, and development groups.
Along with being the co-founder, Fortinsky operates because the prediction supplier’s CEO. He spoke in regards to the platform’s success, saying, “We imagine customers deserve a system that rewards talent, displays true provide and demand, and offers each fan a good shot. We’ve shortly turn out to be the #1 sports activities prediction market within the US, and our natural development speaks to the power of our product and the eagerness of our group.”
Featured picture credit score: Novig official.
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