Novig, a peer-to-peer (P2P) sports prediction market based in the United States, has raised $18 million in a Series A funding round led by Forerunner, with participation from existing investors Y Combinator, NFX, Perceptive Ventures, and Gaingels.
Founded by Jacob Fortinsky and Kelechi Ukah, Novig offers a community-driven marketplace. Unlike traditional sportsbooks, Novig enables users to trade directly with one another, eliminating hidden fees, biased odds, and penalties for winning. Since its public launch in September 2024, Novig reports a 50x increase in monthly trading volume and over $2 billion in annualized volume in Novig Cash.
With the new funding, Novig plans to expand its sports coverage, enhance its presence in existing markets, and introduce features like leaderboards, group contests, and head-to-head trading. The company will also add fiat on-ramps, such as debit and credit card payments, launch a comprehensive web app, and grow its engineering, product, and growth teams.
“Novig isn’t just about sports predictions—it’s about creating a true peer-to-peer market that empowers users,” said Jacob Fortinsky, CEO and co-founder of Novig. “Our platform rewards skill, reflects real supply and demand, and gives every fan a fair opportunity. Becoming the #1 sports prediction market in the US, driven by organic growth, shows the strength of our product and the passion of our community. With the support of world-class investors who share our vision to democratize sports betting, we’re poised to scale our platform to more sports, more features, and more users.”
Novig’s platform boasts over 90% peer-to-peer trades, reflecting strong product-market fit. Users are three times more likely to stay active compared to traditional betting platforms. Every new user receives a starting balance of Novig Coins and Novig Cash, allowing them to trade without upfront deposits or risk.
“Novig is uniquely positioned at the intersection of gaming, entertainment, and financial innovation,” said Fawzi Itani, Principal at Forerunner. “The team’s deep understanding of their audience and commitment to building a fair, engaging, and community-driven platform sets them apart. Novig is redefining the sports prediction experience, making it more rewarding and enjoyable for users.”