Novig, the peer-to-peer prediction market, declared a funding spherical that closed at $18 million.
The primary contributors to this spherical of funding included Forerunner, Y Combinator, NFX, Perceptive Ventures, and Gaingels.
Novig publicizes $18 million funding spherical
The prediction market in America is heating up with a listing of suitors that permit bettors to stake on markets comparable 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 trade that’s permitted to function in forty US states and is gaining traction amongst prediction gamblers. The format is much like British and EU sportsbook exchanges comparable 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 concerning the landmark funding spherical.
@Novig simply raised an $18M Collection A spherical led by @forerunner.
Right here’s how we turned 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 can be bought for sweepstakes and the buying and selling factor of the positioning. In keeping with the Novig web site, the 2 currencies are color-coded.
Novig Money, the blue forex, is “redeemable for actual money prizes (USD) in case your trades win; topic to playthrough necessities.” Novig Cash, the yellow forex, is “used solely for observe buying and selling and can’t be redeemed for actual forex,” in line with the articles posted on Novig.
The long run seems to be optimistic for the sports activities prediction platform
Since its public launch in September 2024, it has achieved a reported fifty instances its unique month-to-month buying and selling quantity, which has quickly elevated, and the web forex is now at 2 billion Novig money.
One of many buyers, Fawzi Itani, Principal at Forerunner, mentioned, “The Novig group brings probably the most subtle 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 nicely, enjoyable.”
Novig intends to broaden with the brand new spherical of funding from Itani and the opposite buyers. The corporate has plans, in line with the release, so as to add further sports activities to the buying and selling factor of the platform.
“With the brand new capital, Novig plans to broaden protection to further sports activities and deepen its presence in present markets. The corporate may also launch new options, together with leaderboards, group contests, and head-to-head buying and selling,” mentioned the Novig launch.
It is usually trying to assist debit and bank card funds, an online app, and rent extra our bodies throughout its engineering, product, and progress groups.
Along with being the co-founder, Fortinsky operates because the prediction provider’s CEO. He spoke concerning the platform’s success, saying, “We consider customers deserve a system that rewards talent, displays true provide and demand, and offers each fan a good shot. We’ve rapidly turn out to be the #1 sports activities prediction market within the US, and our natural progress speaks to the power of our product and the eagerness of our neighborhood.”
Featured picture credit score: Novig official.
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