Novig Raises $18 Million Series A to Scale Peer-to-Peer Sports Prediction Market; Becomes Fastest-Growing Platform in Category

Round was led by Forerunner with participation from Y Combinator, NFX, Perceptive Ventures, and Gaingels.

NEW YORK, Aug. 11, 2025 /PRNewswire/ -- Novig, the leading peer-to-peer sports prediction market in the United States, today announced the successful close of an $18 million Series A funding round. The round was led by Forerunner, with participation from existing investors Y Combinator, NFX, Perceptive Ventures, and Gaingels.

Founded by Jacob Fortinsky and Kelechi Ukah, Novig is reimagining sports predictions as a transparent and fair marketplace. Unlike traditional sportsbooks, Novig allows users to trade directly with one another, rather than against the house, eliminating hidden fees, biased odds, and the risk of being penalized for winning.

Novig has experienced explosive growth since its public launch in September 2024, achieving a 50x increase in monthly trading volume and surpassing 2 billion worth in annualized volume in Novig Cash.

"What we're building isn't just sports predictions–it's a true peer-to-peer market," said Jacob Fortinsky, CEO and co-founder of Novig. "We believe users deserve a system that rewards skill, reflects true supply and demand, and gives every fan a fair shot. We've quickly become the #1 sports prediction market in the US, and our organic growth speaks to the strength of our product and the passion of our community. The support from some of the world's leading tech investors, who believe in our mission to democratize sports betting for good, is a powerful endorsement—not just of what we've built, but of the future we're creating. This funding will allow us to scale our mission across more sports, more formats, and ultimately, to more users."

More than 90% of trades on Novig are now fully peer-to-peer, a signal of strong product-market fit. Novig users are three times more likely to remain active on the platform compared to traditional betting platforms. Every new Novig user receives a starting balance of Novig Coins and Novig Cash, enabling them to experience the thrill of trading with no upfront deposit or risk.

With the new capital, Novig plans to expand coverage to additional sports and deepen its presence in existing markets. The company will also launch new features, including leaderboards, group contests, and head-to-head trading. Additionally, Novig aims to support fiat on-ramps such as debit and credit card payments, launch a full-featured web app, and scale hiring across its engineering, product, and growth teams.

"Novig sits at the center of several key secular trends in gaming and entertainment, namely that consumers increasingly are spending their time, energy, and attention with financial products," said Fawzi Itani, Principal at Forerunner. "The Novig team brings the most sophisticated and nuanced perspective to sports prediction markets. They not only deeply understand their target customer, but are building a system that is more fair, community-oriented, rewarding, and well, fun."

As Novig continues its mission to deliver the best sports prediction experience in the market, it is quickly becoming the go-to platform for fans who care about price, product, and performance.

About Novig:
Novig is America's #1 Sports Prediction Market, and the only platform to offer commission-free, peer-to-peer trading on sports. By eliminating the traditional sportsbook model, Novig delivers better pricing, full transparency, and a more efficient market structure for users.

For more information, visit novig.us or follow Novig on X or LinkedIn.

SOURCE Novig